Research On Marketing Strategy For CITIC Bank Changchun Branch

In 2017,general secretary Xi Jinping mentioned in his speech at the financial conference that "finance should return to its source".On the one hand,finance should serve entities and avoid virtual reality.On the one hand,we should avoid systemic risks caused by over leveraging.In response to the "return of finance to its source",the people's Bank of China and the China Banking and Insurance Regulatory Commission and other regulatory agencies have successively issued corresponding regulatory policies.In 2017,China's Finance officially entered the era of "strong supervision".Finance is the lifeblood of national economy,and China's financial system is dominated by the banking industry.In the trend of financial return to the source,the competition for the deposit market of commercial banks will be further intensified,and the residential deposit market will become the top priority of the layout of commercial banks due to its characteristics of large capacity,high potential,low cost and high stability.From the development of personal savings business of commercial banks in Jilin Province,it mainly presents the following characteristics.First,due to the backward regional economy,the retail transformation work of all kinds of commercial banks in the region is relatively slow;second,the "big retail" strategy of major commercial banks generally ignores the marketing strategy layout of personal savings business.Third,the marketing strategy of personal savings deposit business still stays in the stage of focusing on the elderly customers and the price competition.By increasing the interest rate pricing to attract price sensitive customers,the loan interest rate keeps falling under the interest rate marketization,the interest payment cost rate of personal savings deposits keeps rising,and the interest margin keeps narrowing.In recent years,China CITIC Bank ChangChun Branch has increased investmentin the transformation and development of retail business,and the savings business has achieved rapid growth,mainly showing the following characteristics: first,the market share is low but rising rapidly;second,the market channel is highly dependent on the outlet channel;third,the price competition;fourth,the market share of innovative products is low.Under the background of rapid growth of savings scale,Changchun Branch of China CITIC Bank faces higher policy risk,market risk and unsustainable growth.At present,the development of savings business is faced with high regulatory pressure,the slowdown of macroeconomic growth,the lack of population growth in the region,the increasing aging,the rapid development of financial science and technology and other opportunities and challenges.The continuous development of savings business of China CITIC Bank needs to re position the savings business,optimize and adjust the marketing strategy of savings business of Changchun Branch of China CITIC Bank,and form a Set of marketing strategies for sustainable development.From the past single product guidance to customer-centered transformation,from single price competition to comprehensive competition,from a single elderly customer group to multi-core target customer group transformation,with financial technology enabling to build "Online + offline" scenario interaction,truly able to cope with the future sustainable development of marketing strategy.Based on STP model,this paper analyzes the market segmentation,target positioning and market positioning of personal savings deposits in Changchun Branch of China CITIC Bank.The savings business of China CITIC Bank should be a large base customer group,focusing on five target customer groups(overseas financial characteristic customers,middle and high-end customers,middle-aged and old customers,female customers and new middle-class groups).In combination with the actual development stage of the company,we should adhere to the corporate vision of "becoming the best financial comprehensive service enterprise with responsibility,temperature,characteristics and dignity",continue to strengthen the retail core brand proposition of "keeping the temperature",and constantly establish strategic products for different customers under the temperature system.At the same time,based on the4 P theory,the paper puts forward the marketing strategy combination of product,price,channel and promotion for the development of savings deposit business of China CITIC Bank.First,we should adhere to the product strategy of combining traditional products with innovative products,constantly expand the target customer base and realize the multi product strategy.Second,we should build a dynamic price adjustment system with customer as the center and value as the guide To get rid of the single price war and lead the competition actively by adjusting the price passively;to establish the "Online + offline" dual channel drive,expand the customer acquisition channels,realize the diversification of customer structure and reduce the customer acquisition cost;to enable the traditional promotion with science and technology,realize the precision marketing to improve the promotion efficiency,and build the brand image with the core products.Finally,in order to ensure the effective implementation of the marketing strategy of personal savings business,this paper puts forward three guarantees: strategy guarantee,organization guarantee and technology guarantee.