Research On The Marketing Strategy Of Dongying Bank’s Elderly Retail

China has the world’s largest absolute number of elderly population,not only that,the proportion of the elderly population in our country is increasing year by year,the aging of the population development speed is very fast.By the end of 2019,China’s population aged 60 or above was 253.88 million,accounting for 18.1 percent of the total population.With the accelerating process of aging in China,the degree of aging continues to deepen,the burden of old-age security is facing unprecedented pressure,the elderly medical and health consumption expenditure is increasing year by year,and the elderly social service needs to diversify and multi-level development.These factors make the elderly group in China,who are "old before they get rich",have a strong demand for investment and financial management,and are eager to achieve the goal of maintaining and increasing the value of assets through wealth management.Thus,a series of "blue ocean" market of commercial banks’ retail business for the elderly has been born.Based on the theory of marketing,Dongying Bank as the research object,choose the old retail market niche marketing strategy research,through the analysis of Dongying Bank senior retail market environment,develop accord with the actual development needs of Dongying Bank elderly retail marketing strategy,and speed up the transformation and upgrading of the retail business,and seek new profit growth point,promote the competitiveness of the market.This article first briefly introduces the basic situation of Dongying Bank,then uses PEST analysis to analyze the external macro environment of Dongying Bank’s senior retail business,and analyzes the industry competition structure with the help of Porter’s five forces model,and analyzes the internal assets owned by Dongying Bank.Resource conditions and capabilities,using SWOT analysis to sort out the advantages,disadvantages,opportunities and threats of Dongying Bank in the elderly retail marketing,conduct a comprehensive SWOT analysis,and analyze the problems in Dongying Bank’s elderly retail marketing.Finally,the STP strategy was formulated to conduct market segmentation,target market selection,and market positioning for the elderly retail market of Dongying Bank.Using the 4P marketing theory,the Dongying Bank’s senior retail marketing strategy was formulated from four aspects:product,price,channel,and promotion.In addition,it has innovatively formulated a relationship marketing strategy based on 5R theory.Finally,in order to ensure the effective implementation of marketing strategies,corresponding safeguard measures have been proposed from the four dimensions of human resource management,risk management,corporate culture construction,and information system platform construction.It is hoped that through the research in this article,it will provide guidance for Dongying Bank to optimize its retail market business structure,help the maintenance and development of the elderly retail market of Dongying Bank,and provide some reference for other commercial banks,especially small and medium-sized urban commercial banks,to develop the elderly retail market.