Research On Marketing Strategy Of Foreign Exchange Derivatives For Z Bank Jinan Branch

Recently,affected by external events such as Sino-US trade friction and the global spread of the new crown epidemic,the volatility of the RMB exchange rate has gradually increased,the operating profit is likely to be swallowed up by the fluctuating wave of exchange rate fluctuations,and the foreign trade enterprises’ demand for exchange rate hedging continues to increase.At the same time,with the continuous reform of interest rate marketization,the deposit and loan interest spread of banks has gradually narrowed,and commercial banks cannot continue to rely on traditional business models to obtain stable operating income.Risk assets and other characteristics have gradually become the profit growth point of various commercial banks.It is particularly important for commercial banks to establish effective and scientific foreign exchange derivatives marketing strategies and continuously improve the sales capacity of foreign exchange derivatives.This thesis sorts out the literature on foreign exchange derivatives business and financial product marketing strategies,and analyzes the internal and external marketing environment of Z Bank Jinan Branch’s foreign exchange derivatives business.In order to solve the problems of product homogeneity,lack of price competitiveness,low utilization rate of online channels,single promotion means,loss of professional talents,poor service process experience,and insufficient tangible display in the bank’s foreign exchange derivatives marketing,this thesis uses STP theory to analyze the market segmentation,target market selection and market positioning of the foreign exchange derivatives business of Bank Z Jinan Branch,and based on the 7P theory,formulate seven aspects of marketing including product,price,channel,promotion,personnel,process,and display strategy.This thesis believes that in the marketing of foreign exchange derivatives,commercial banks should build a customer-centric marketing strategy;continue to vigorously develop digital products,maintain price flexibility,continue to play their advantages in emerging channels,continuously enrich promotion methods,and optimize personnel allocation,optimize the service process and improve the tangible display effect.In order to ensure the implementation of the marketing strategy,an effective back-end guarantee mechanism should be established from four aspects:improving human resources guarantee,strengthening financial technology innovation and improving risk management and control system,which can better cope with the intensified competition under the new situation of the forex derivatives market.Relying on the above marketing theory,this thesis hopes to help commercial banks better cope with the increasingly competitive foreign exchange derivatives market under the new situation.