Research On Marketing Strategy Of Personal Finance Business Of Nanchang Rural Commercial Bank

With the steady progress of high-quality economic development and the continuous increase of residents’ income,people’s investment needs are increasingly diversified.Due to central bank repeatedly cut down,the interest rate for the savings deposits,bonds and other traditional investment methods,decrease of higher revenues from the stock investment,although there is a possibility of it professional level have certain requirements for investors,and the corresponding investment risk is also higher,all is not suitable for ordinary investors,therefore,has the characteristics of low risk and stable income of personal finance products arises at the historic moment,personal finance business has become a widely attention of the new way of investment.Moreover,with the accelerating the process of liberalization of interest rate,commercial banks profit through spreads the traditional profit model is no longer suitable,under severe pressure of business transformation,as a result,most big commercial banks continue to strengthen financing business development efforts,as a new profit growth point,in order to improve the economic benefits of the bank.Therefore,the competition of commercial banks’ financial services is becoming increasingly fierce.The first wealth management product of China’s commercial Banks was issued by Everbright Bank in 2004.Since then,financial products of other commercial banks have been listed in succession,and the scale of bank financial services has been growing at a rate of 10% to 20% every year.In addition,in order to standardize the development of commercial banks’ personal finance services,the regulatory authorities have also introduced a series of rules and regulations and management methods,and made clear provisions on the development rules of personal finance services.New capital management regulations and new financial management regulations have been issued in 2018,requiring commercial banks to change the operation mode of financial products and carry out net worth transformation.By the end of 2020,capital preservation financial products should be completely withdrawn from the financial management market.Nanchang Rural Commercial Bank was restructured from Hongdu credit cooperative and issued financial products for the first time in 2012.It is the first rural commercial bank in Jiangxi province to issue personal financial products,and it has gained a certain market share by relying on the advantages of guaranteed financial products.However,in the development ofpersonal finance services,Nanchang Rural Commercial Bank has a late start,starting from a low congenital shortage.As a result,the tougher market more competitive,regulatory environment,Nanchang Rural Commercial Bank need to fundamentally change the wealth-management business marketing model,through business transformation and upgrading,development of new products,optimize the marketing strategy,to strengthen the financial services,to make up for congenital deficiency,realize "curve overtaking" through this transition,thereby expanding market share,improve the comprehensive competitiveness of personal finance business.This article takes the personal fiance business of Nanchang Rural Commercial Bank as the research object,and starts from the development status of its personal wealth management business.Through the methods of questionnaire and depth interview,found the Nanchang Rural Commercial Bank personal financing business in wealth management products,marketing channel,wealth management sales personnel,subdivide customer groups,customer satisfaction,the existing problems in this five aspects.Then,using PEST analysis method to analyze the macro environment,using the Porter five model analysis of industry competition environment,using the SWOT analysis tool comprehensive analysis on its internal resources and external environment,based on the theory of target market and the 4P and 4C marketing theory to analyze current situation and problems of marketing,and puts forward the "STP + 4P + 4C" with the combination of marketing strategy recommendations.Finally,combined with the actual work,it puts forward the guarantee measures for the implementation of the personal fiance business marketing strategy.