Research On Differentiated Competition Strategies Of Agricultural Bank Of China's Personal Finance Business

With the continuous development of society,the economy has also been effectively promoted,and people's income level has been greatly improved.Coupled with the current inflation pressure,people have greater demands on personal finance business.In order to meet the needs of the people,banks have launched personal finance business at the right time.At the same time,personal finance business have become the main field for the development of Banks.Personal finance brands emerge in endlessly and the competition in the personal finance market becomes increasingly fierce.In addition,some non-banking financial institutions and some Internet companies are also starting to get involved in the personal finance market.Agricultural Bank of China not only has many urban branches,but also many rural branches.The Rural Revitalization Strategy of The 19 th National Congress of the Communist Party of China and other policies has brought new opportunities for development of personal finance business,Agricultural Bank of China should make use of its advantages and seize opportunities,so as to make its personal finance business more competitive.Based on the analysis of the current situation of personal finance business of Agricultural Bank of China by literature research and comparative research,this paper conducts an empirical analysis through interviews between financial managers and customers,analyses the current situation of personal finance business of Agricultural Bank of China,and points out the main problems existing in the differential competition of personal finance business of Agricultural Bank of China.On this basis,SWOT matrix analysis is used to determine the necessity of the implementation of differentiated competition strategy by Agricultural Bank of China.Drawing lessons from domestic and foreign experience,the specific implementation measures of product differentiation,brand differentiation and service differentiation strategies are put forward respectively.Finally,from the four perspectives of improving management system,marketing system,human resource allocation system and product service allocation system,the paper puts forward the safeguard measures for the implementation of differentiation competition strategy of Agricultural Bank of China.Although the Agricultural Bank of China is one of the four major state-owned banks withold seniority and great ability,the development speed and profitability of the personal finance business of the Agricultural Bank of China are not particularly prominent in the same industry.If the Agricultural Bank of China no longer pays attention to personal finance business in such fierce competition,it will be very passive in the future.Agricultural Bank of China can occupy its own position in the fierce competition of personal finance market only if it finds out the differentiated competition strategy suitable for its personal finance business.