Research On The Marketing Strategy Of Retail Business Of Z Bank In Inner Mongolia

In recent years,the layout and ecology of China's financial industry have undergone tremendous changes.Private capital has entered the banking industry,and the ecology of the financial industry has undergone earth-shaking changes over the past few decades.For commercial banks,their main business has evolved from payment,deposit and withdrawal,to deposits,modern payments,insurance products,trusts,wealth management,funds,private equity products,visas,etc.in the past ten years.Commercial banks has formed a pattern of mixed operation,Internet finance is coming,and cross-border competition is unstoppable.Compared with other developed regions,the development of banking industry in Inner Mongolia is relatively lagging behind in terms of business model and service connotation.However,due to the development of the Internet,the competitive landscape of financial business,like the real economy,has transcended the scope of space and integrated into the cross-industry and cross-regional competition.Banks are facing a growing competitive landscape.This challenge comes from the competition of banks in the industry and the “cross-border” competition of traditional IT companies.Where is the “boundary” of the Internet industry and the financial industry? It seems that it is increasingly difficult to define it simply.As a national joint-stock commercial bank,Z Bank was born in Shekou,Shenzhen,the forefront of China's reform and opening up.Its genes and blood are born with innovative blood,creating a number of “firsts” in the history of Chinese banks.In terms of retail banking,with its strong retail banking value contribution,it has become the leader of the retail business in China's banking industry today.Faced with the strong rise of Internet finance,Z Bank's retail banking business in Inner Mongolia has been under adversely impact,but it has also ushered in new development opportunities.Based on the relevant theories of marketing and marketing management,this paper analyzes the development structure and business data of Z Bank's retail business,and clearly analyzes the macro environment,micro environment and internal environment that Z Bank faces in developing retail business in Inner Mongolia.In view of Z Bank's positioning in retail business,financial technology and Z Bank's current product and market conditions,it has carried out market segmentation,target market selection and market positioning,and developed a differentiated retail business marketing strategy.Based on the current background of financial technology development,combined with the actual experience of banking business,this paper makes recommendations on the problems,methods and improvement measures of retail banking in specific regions by applying theoretical knowledge related to marketing strategy.Through the guidance and test between theory and practice,it provides reference value for the expansion of commercial banks' retail business.