Research On Marketing Strategy Of Individual Housing Credit Business Of ICBC Sichuan Branch

In 2003,China proposed that the real estate industry had become the pillar industry of the national economy.In the past 10 years,commercial bank credit products,especially the personal housing loans,have provided a lot of credit support for the rapid development of the real estate industry.In addition,in recent years,the national economy has entered a new normal and the market-oriented reform of interest rates has been gradually pushed forward.As a result,the trend of financial disintermediation of corporate customers becomes increasingly obvious,the bargaining power of high-quality customers is growing,and the profit margin of wholesale business of commercial banks has been gradually reduced,the retail business becomes the backbone of profit contribution of commercial banks.Personal housing credit which has low substitutability,better comprehensive income as well as good asset quality are undoubtedly the key product in retail business.Like other commercial banks of China,ICBC has recognized the importance of retail business represented by personal housing loans for a long time.It formulated grand retail strategy and promoted the development transformation and service innovation continuously,it implemented the basic idea of an overall settlement of retail business so as to adapt to market changes actively.As a province branch of ICBC,the loan growth,profitability and asset quality of individual housing credit business has been in the upper middle level.However,since the central government introduced the policy of "inhibition of foam,deleveraging,destocking" and "housing residence instead of vicious speculation" in 2016,China's macro economy and real estate market have entered a cyclical adjustment.With the accelerated transformation of the market,the characteristics of a buyer-dominated market of housing finance are becoming increasingly obvious.Customers have more initiative and autonomy in choosing financial services,also paid more attention to the quality and efficiency of banking services.At the same time,the downturn of the external economic environment force commercial banks to show strong preferences for personal housing credit business.With the increasing participation of housing credit competitors,the differentiation and competition for market share among banks is becoming increasingly fierce.Under the influence of the complex environmental changes and fierce competition mentioned above,the personal credit market proportion of ICBC Sichuan Branch is declining slowly although it keeps ahead.In order to adapt to the current internal and external situation and promote the healthy and stable development of personal housing loan business,this dissertation combines the research methods of macro analysis,microanalysis and qualitative approach as well as data analysis among others.Firstly,it clarifies the business characteristics of large amount,long term and policy-oriented duties,and its marketing characteristics of strong channel affiliation and broad space of deferred service.Based on the marketing theories such as PEST,Five Forces Model and SWOT,this dissertation makes an in-depth study on the current macro-environment,industry environment,internal and external important situations of ICBC Sichuan Branch,and analyses the existing problems of the marketing strategies of individual housing loans one by one,such as unclear regional market positioning,lack of product brand building,ineffective channel construction and single approach of pricing and promotion.Finally,the next marketing strategies to promote the development of personal housing loan business are put forward: first,the bank should reconstruct the regional market segmentation and clarify the differentiated market positioning in the light of the current situation and the future development trend of real estate in Sichuan Province;second,the strategy should be based on customer needs,the bank should integrate and coordinate multiple marketing departments to achieve the target of common value between customers and the bank through penetration marketing of multi-dimensional,multi-product and multi-service,it will construct an integrated service mode which focus on individual housing loan business,and all kinds of deferred services will be put forward in the whole process.Thirdly,great importance should be attached to online marketing channels while strengthening traditional offline channels,and the bank should explore self-built channels to obtain mortgage customers.Fourthly,the bank should speed up product innovation according to characteristics of homebuyers and improvers,and improve service awareness and service level,cultivate and establish brand image of personal housing loans gradually.ICBC Sichuan Branch should pay close attention to the trend of policy changes,grasp the change of customer demands,strengthen the strategic thinking and enhance application of above strategies in order to hold the lead in the fierce market competition.