Research On The Marketing Strategy Of Ping An Bank's Private Banking Business Under 7Ps Theory

With the development of economy and the accumulation of personal wealth,the number of high-net-worth individuals in China is increasing,and more and more commercial banks are running private banking services for high-net-worth clients.Facing the fierce competition,commercial banks must optimize the marketing strategy of private banking business,Ping An Bank,in especial,which started private banking business late and has a big gap with its peers.It needs to systematically analyze how to improve its marketing strategy and think about how to give full play to its unique advantages as a holding company of Ping An Group.This paper adopts the method of case analysis and comparative analysis to study how to improve the marketing strategies of Chinese commercial banks.Considering Ping An Bank's private banking business as the research object,this paper uses 7Ps to analyze its problems of marketing strategy in private banking business and discusses causes.Then,analyze competitive environment in private banking business,especially comprehensive financial advantages,this paper provides relevant suggestions for Ping An Bank to optimize the marketing strategy of private banking business after learning from the peers:in terms of product,add products and services basing customer needs and own advantages;in terms of price,use many pricing methods and improve pricing mechanism;in terms of place,use App marketing,database marketing and cross-selling to expand marketing channels;in terms of promotion,use many medias to improve the brand image and strictly implement standards of promotional activities;in terms of staff,train and motivate professional talents;in terms of physical evidence,through unified physical objects in every private banking center to improve customer experience;in terms of process,standardize service mechanisms.