Research On The Marketing Strategy Of Personal Wealth Management Products In Zhengzhou Branch Of Minsheng Bank

With the rapid development of economy in recent years,the wealth of domestic residents has significantly increased,which leads to an increasingly diversified demand for personal financial products.Personal finance in China has developed rapidly and made a remarkable progress.After Minsheng Bank took the lead in introducing personal financial products,many commercial banks have followed the introduction of personal financial products,which promoted the rapid development of personal financial services.However,this situation has caused tremendous pressure on Minsheng Bank.At present,Zhengzhou Branch of Minsheng Bank has only adopted relatively primitive marketing methods in the distribution of personal financial products,and does not have an effective marketing strategy.Therefore,in order to enhance the core competitiveness of personal financial products of Zhengzhou Branch of Minsheng Bank,it is necessary to study its specific marketing strategies.In this paper,literature analysis and case study are used to analyze and study the optimization of personal financial products marketing strategy of Minsheng Bank Zhengzhou Branch.Through the analysis of the specific marketing strategies of personal financial products of Zhengzhou Branch of Minsheng Bank,problems were found in the aspects of the functions of financial products,poor customer convenience,single sales channels,confused choices of consumers,insufficient product promotion,unsystematic promotion schemes,insufficient brand building,image publicity,customer service quality and weak communication.This paper analyses the macro and micro environments of personal financial products of Minsheng Bank Zhengzhou Branch,clarifies the trend of market development faced by Minsheng Bank Zhengzhou Branch,investigates the strength of competitors and customer consumption demand,and lays a foundation for the suggestion of marketing strategy optimization of Minsheng Bank Zhengzhou Branch.Starting from STP strategy,this paper proposes suggestions for improving the personal financial products through various aspects such as 7Ps,optimizes the promotion strategy,and introduces the following measures: improving the product functions,meeting different customer needs,strengthening brand acceptance,creating professional image,implementing sub-channel management and operation,enhancing service quality,emphasizing network marketing,and improving the professional skills of staffs.Based on the classical marketing theory,this paper analyzes the development stage,the environment,the competition characteristics of the market,and the status of the personal financial products that Minsheng Bank Zhengzhou Branch has launched.This paper also conducts a systematic summary and innovation on the marketing strategy of personal financial products at Minsheng Bank Zhengzhou Branch,as well as optimizes the marketing strategy.Not only can it effectively enhance the core competitiveness of Minsheng Bank Zhengzhou Branch,but also provides reference for the marketing of other products in the same business.