Research On Marketing Strategy Of Private Banking Business Of Bank Of China Liaoning Branch

In the past decades,Chinses Society have been progressing and the economy been developing rapidly.With the raise of family income,China’s middle class continues to grow,and the family fortune rapidly thrives,meanwhile,the need for financial services is increasingly getting complicated.The traditional services offered by commercial Banks could hardly satisfy the different demands of the people with a substantial sum of money.Since the 21st century,domestic commercial Banks have also established their own private banking business,and formed their own unique service system after more than ten years of exploration and running-in.The services of the Private banks concentrate on the fortune management for the wealthy clients,offering them customized financial products and financial services.Throughout the development history of private banking business,it has the advantages of low capital occupancy and high return,and has become an important part of the profits of commercial Banks.Therefore,it has become one of the main businesses of commercial Banks in the world.Against this background,Bank of China is committed to the development and improvement of private banking business,improving the stickiness of high-end customers and enhancing its core competitiveness.Private banking business has become an indispensable part of my country’s commercial banks,providing professional and personalized high-end financial services for high-net-worth customers,and also bringing higher profits to the banks themselves.In the context of my country’s rapid economic development,the number of the wealthy clients are growing fast with the rapid expanding of their financial eastate.In this context,Bank of China is committed to the development and improvement of private banking services,enhancing the stickiness of high-end customers,and enhancing its core competitivenes Based on relevant marketing theories,the Bank of China’s external and internal circumstances are analyzed in this paper,conducts SWOT analysis and formulates STP marketing strategies,and clarifies the advantages,drawbacks,opportunities and threats.Based on it,the Market segmentation,target market selection and positioning,and further formulate the marketing mix strategy of BOC Liaoning Branch’s private banking business.It includes product strategy,price strategy,place strategy,promotion strategy,human resources managing strategy,service procedure strategy and servicing environment strategy.At the same time,three measures—the implement strategy of the marketing plan,organization insurance,and inner controlling insurance—have been proposed to insure the marketing strategy to be executed smoothly and effectively.