Research On Marketing Strategy For Personal Financial Management Products Of Industrial And Commercial Bank Of China Henan Branch

This article takes the marketing strategy of personal finance product of Industrial and Commercial Bank of China under the effect of Internet finance as the main study direction.The business of personal finance product is a very important development opportunity for all the banks.Basically,all the bank operators regard how to improve the sales of personal finance product as a problem which needs to be solved eagerly.Under the background of strong development of Internet finance,the physical commercial banks absorb its advantages of compatibility for opening to the outside world and the shareability of the resources to carry out marketing reforger of finance product to make the provincial branches obtain new breakthroughs in the aspect of personal finance product and make the clients and banks obtain more benefits.So that the referential schemes can be provided to the commercial banks at the new age with quickly developed Internet financial economy to achieve stable,healthy and quick development.This is the meaning of this study.In Henan Province,there are many banks with the similar development of Industrial and Commercial Bank of China,such as Bank of China and China Construction Bank,etc.;of course,there are also many stock-holding banks,such as China Merchants Bank,etc.,which bring heavy development pressure to the development of Industrial and Commercial Bank of China Henan Branch.However,in other hand,the Internet finance which is popular now has the advantages of low doorsill,high flexibility and small risk,etc.,which caters to the psychology of many investors in small crowd.So that Internet finance attracts a large number of personal finance product investors,which is a huge impact for all physical banks.Therefore,via extensive data comparison and fusion,this article analyzed the relevant theoretical reviews of bank marketing,marketing situation and existing problems of Industrial and Commercial Bank of China Henan Branch in personal finance product,carried out macroscopic and microcosmic environment analysis to the marketing of personal finance product;via SWOT analysis of Industrial and Commercial Bank of China Henan Branch,analyzed the advantages,opportunities and threats faced by the marketing strategy of personal finance product of Industrial and Commercial Bank of China under Internet background to find out the direction of marketing strategy improvement.In the last,in accordance with market segmentation theory,4C+2R theory and 7PS theory,this article formulated effective combined strategy of marketing,and formulated corresponding measures which will guarantee the implementation of the strategy.The author hopes that the finance product marketing of Industrial and Commercial Bank of China Henan Branch can be further optimized and improved to make the banks and clients gain more benefits.In accordance with the study results,Industrial and Commercial Bank of China Henan Branch has to regard the mid-end and high-end finance products as the main market and regard the low-end finance products as the secondary marketing to formulate effective marketing strategies in accordance with the actual demand of different clients.On one hand,there should be a marketing strategy which is able to meet the demand of the clients,which is main rich product lines,satisfaction of client demands;reasonable control of client purchasing cost and redemption cost;optimization of client online and offline communication;convenient online and offline purchase for clients;and establishment of partner relationship with the clients.On the other hand,there should be a marketing strategy which is able to persuade the client,which is mainly proper determination of product proportion;vigorous development of Internet channels,integration of artificial sales channels;Improvement of finance product yield rate;enhancement of finance product publicity;strengthening of client-oriented business process design;strengthening of standardization and normalization construction of employee services;Establishment of good online and offline marketing environment.In addition,via active information collection,there should be enhancement on construction of network bank;establishment of complete risk prevention and control system;and strengthening of the implementation of enterprise cultural construction guarantee marketing strategy.So that the market competitiveness and marketing ability of Industrial and Commercial Bank of China Henan Branch finance product can be strengthened to achieve joint development with clients under fierce competition environment.