Research On The Competitive Strategy Of Credit Card Business Of Bank Of China Inner Mongolia Branch

Chinese economic development has turned to the stage of high quality.Consumption has been the most important driving force for economic growth.The credit card business,with integrating consumer payment and credit function,has better development opportunities.In 2013,non-interest income,come from the credit card business,had accounted for 26% of non-interest income of the Bank of China Inner Mongolia branch.In 2016,it had reached 50%.It almost doubled in three years.While the business is developing at a high speed,the internal and external environment has changed.The traditional strategy has been unable to cope with the current intense market competition.In order to cope with new market competition,and take the initiative in the competition of credit card business in the future,the study of new competitive strategy is a task that the Bank of China Inner Mongolia branch must face.This thesis analyzes the external competitive environment and internal resources and capabilities of the Bank of China Inner Mongolia Branch using theory and practical methods,comparative analysis,PEST,Porter's five-force competition,SWOT matrix analysis methods and tools,and identifies the opportunities,threats,advantages and disadvantages that it faces.Based on the strategic positioning and objectives of the credit card business of the Bank of China Inner Mongolia Branch,with analyzing three universal competitive strategies proposed by Michael Porter,this thesis will conclude that the credit card business of the Bank of China Inner Mongolia Branch should implement differentiated competition strategy and achieve differentiation in customer group selection,product promotion,price formulation,channel construction,and marketing campaign development and put forward safeguard measures in the areas of organizational structure,human resources,risk management,and scientific and technological support in order to face changes in the competitive environment and obtain competitive advantages in a better way.