The Research On Combination Marketing Strategy For Credit Card Of Commercial Banks

Since the first credit card was introduced in China in 1985,the credit card industry in China has been continuously deepened and developed,which has become an important tool to stimulate and support the growth of residents' consumption.At the same time,it is also an important source of profits for commercial banks,and customers become the foundation to realize these profits.In this field,the competition between commercial banks is actually the competition between active credit card customers.Under the new situation of the Internet,innovative financial formats are constantly emerging.More and more commercial banks and third-party payment platforms are beginning to pour into the consumer financial ecosystem,which has posed threat to current credit card market on the several steps like scene,payment,financing and so on.For commercial banks,it is imminent to change their operation from the past extensive marketing models to fine management and formulate effective marketing strategies to seize the credit card market share.Regarding evolution of marketing theories,with continuous development of market economy,marketing theories also develop from 4P marketing theories with producers as the core to 4C marketing theories with consumers as the core.Then,the theories changed to the latest 4R marketing theories with customer stickiness as the core.At the same time,with the importance attached by commercial banks to data mining and the full use of big data strategies,it is possible to make credit card customers' portraits and accurate customer marketing.All of these have great guiding significance for commercial banks to formulate credit card combination marketing strategy in the new era.Through reviewing the development history,present situations,new opportunities and new challenges of the credit card and consuming credit industry at home and abroad,this paper has found the great potential of credit card and consuming credit industry.It has also found that the profits of credit card are closely related to the age,occupation,education and other factors.And people can sum up the portraits of targeted active credit card clients.At the same time,taking ICBC,the world's largest credit card issuer,as an example,this paper used data statistics to analyze the portraits and structures of its stock customers and 2.17 million credit card customers.Some deficiencies of customer structures and credit card development has been found through comparing analysis.On this basis,the paper further pointed out that development of ICBC credit card business should reposition the targeted group of marketing customers and make full use of combination marketing strategy to carry out accurate marketing and expand the scale of credit card business.The first is to make use of the four strategic elements in the 4R marketing theory: Relationship,Retrenchment and Relevancy,Reward and the eight core competencies under each combination(service,experience,technology,convenience,scene,product,taste,rights and interests)for developing new credit card marketing strategies.The second is to use MGM(Member Get Member),which is a new mode of credit card marketing.It can reduce the cost of the customer obtainment and improve the response rate of the customer marketing through customers' referral.The third is to strengthen cross-border cooperation and actively learn from third-party data to achieve order-of-magnitude expansion for further expanding the business scale with the help of external high-impact brands and platforms.At the same time,through further strengthening the channel construction,improving the service system,deepening the use of data,innovatively publicizing and some other ways,the implementation of marketing strategies should be ensured.The research and strategy application in this paper is useful for promoting ICBC credit card customer expansion,enhancing customers' satisfaction and contribution and consolidating the customer base of credit card business development in order to improve the profiting level of credit card business and the market share in the credit card industry and also to provide a reference on formulation of credit card marketing strategies for other commercial banks.