The Marketing Strategy Study For Retail Banking Of HF Bank

With the change of economic environment,commercial banks are facing a complex and severe business environment for public business,which promotes commercial banks to actively explore new markets.The rapid growth of Internet financial business directly squeezes the market of traditional commercial banks.At the same time,the consumption level of our country promotes the increasingly vigorous and diversified demand of retail business of commercial banks.Compared with public business,retail business has the characteristics of stable income source,less capital occupation and low risk.With the competitive pressure on public business and the narrowing of market space,retail business has become the focus of commercial banks for transformation and development.In this context,Hang Fung Bank Hangzhou branch is also actively expanding its retail business,but it still faces many problems and challenges in the marketing process.Based on the analysis of the problems faced by the bank in the retail business marketing,this paper puts forward targeted marketing countermeasures.In this context,this paper describes current development of commercial banks operating in retail business sector in general: this including retail banking current situation,retail banking transformation,and how to improve retail banking's competitive edge.In this paper,we study Hangzhou branch of Hengfeng Bank-its retail banking sector's marketing work,using literature research,qualitative and quantitative methods,brand theory,4P theory,STP theory,customer relationship management theory and other theoretical tools.By analysis Hengfeng Bank current situation,problems and causes,this paper puts forward the targeted marketing optimization strategies and safeguard measures.The main conclusions of this paper are as follows:(1)the marketing strategy of Hengfeng bank Hangzhou branch's retail business has some problems,such as the lag of new product development,the mismatch between pricing mechanism and business,the weakness of Internet host construction,the lack of innovation and characteristics in promotion work,etc.,which are caused by the lack of overall planning,the lack of attention of management,and the impact of Internet finance.(2)Hangzhou branch of Hengfeng bank should make clear the target market and market positioning,innovate products,improve price setting mechanism,strengthen channel construction and enrich promotion strategies.(3)Hangzhou branch of Hengfeng bank should formulate and refine the marketing plan,strengthen the management's attention and guarantee measures,improve the operation guarantee and other aspects to formulate the guarantee measures of optimization strategy,and promote the effective implementation of the optimization scheme of marketing strategy.Also this paper may provide insight reference for other commercial banks how to conduct their marketing strategy in retail business sector.