Research On Improvement Of M Bank Credit Card Marketing Strategy

Credit card's industry has been gradually elaborated in China for over 30 developing years.Consumers' demands on personal credit products is also growing,hence,various banks have launched lots of credit card products with rich activities and consumers also can choose different functions.Moreover,mobile payment e-commerce is developing fast,as a kind of payment carrier,credit card can be linked with Internet better.Internet has given credit cards more consumption scenarios,and also continued to expand the income channels of credit cards.For the card issuing institutions,the business of credit cards has very broad development value.The Bank of M is an institution that has got the credit cards' issuing license recently.After seven year's continuing exploration,from scratch to successfully carried out various card issuing business,meaning that the improvement of the business line of the Bank of M has been all completed and it is also a key section for speeding up the adjustment of business structure and increasing the income of intermediary business.However,today,due to the fierce competition of credit cards' industry,we have to keep a watchful eye on the achievement,and also pay close attention to the insufficient of the development process.First of all,this article introduces the overall operation performance/status of the Bank of M,and secondly to clarify the present product strategies,price strategy,channel strategy,and promotion strategy.Thirdly is that the credit cards' business of the Bank of M has some problems,for instance,single products' varieties,insufficient customers' rights and to experience,and limited consumer scenarios,etc.,These problems are obviously not conductive to the stability and long-term development of the Bank of M credit cards' business,therefore,to start anything on the actual situation,Through analyzes the current internal and external environment in detailed through PEST analysis method,Michael Porter's Five Forces Model,and SWOT analysis method,as well as obtaining internal and external industrial data of credit card,and then to make strategic choice.It's believed that the Bank of M should combine its own advantages,grasp the development chances of Internet industry actively,improve promotion strategy,in order to boost its marketing competitiveness.On the basis of customer segmentation of existing customers,through the collection and comparison of detailed data of credit card and credit card staging products of other banks,this article explains the STP strategy of the credit cards of the Bank of M,and brings out the marketing mix strategy according to some literature research,interview research,comparative analysis and experience summary.It is suggested that we should introduce high-end credit cards,upgrade existing rights for consumers,strengthen the cooperation with Internet companies,and expand phased customer base;adopt exclusive rate for the group customers in terms of price;make good use of Internet advantages to deepen online and offline cooperation;innovate activities in promotion,and put forward the guarantee for the implementation of marketing plan of the Bank of M.We are looking forward to developing a local way with the characteristics of the Bank of M.