Research On Marketing Strategy Optimization Of Retail Banking Business Of Bank A

In recent years,China’s economic development has entered a period of new normal and has shifted from a stage of high-speed development to one of high-quality development,with people’s living conditions improving and their sense of well-being increasingly enhanced.In addition to basic living services,people also have higher requirements for the quality of financial services.Therefore,in the new development stage,commercial banks’ retail business also has new development opportunities as well as challenges.Prior to the new stage,macro trends such as the continuous deepening of financial disintermediation and the basic completion of interest rate market reform have already brought far-reaching impacts on the retail business operation and development thinking of commercial banks,especially on small and medium-sized urban commercial banks;meanwhile,from the perspective of mid-term,the rapid development of financial technology and the intensification of competition from peers and external rivals in recent years have also made small and medium-sized banks eager to carry out digital transformation,with a view to further standardizing and regularizing their retail business management.In the short term,since the outbreak of COVID-19,the circumstances,such as reduced customer flow and performance pressure,have urged small and medium-sized banks to accelerate the pace of retail business adjustment and optimization.In this context,Bank A,as a local small and medium-sized city commercial bank in Chongqing,has launched the "big retail" business transformation with its own advantages and characteristics,and has made certain achievements in recent years when the contribution of retail business to Bank A’s profit has gradually increased.However,compared with other competitors in the region,Bank A’s retail business is smaller in scale and has a weaker customer base,and there is a relatively obvious gap between it and its peers.Therefore,it is important for the long-term development of Bank A to study how to continue to optimize the retail business marketing strategy and create a high-quality and distinctive retail business system.This paper takes Bank A’s retail business marketing strategy as the research object,in which literature research,survey research method,questionnaire and other research methods are used to collect a large amount of information and relevant data.Utilizing STP theory,4P marketing theory,customer relationship management theory and other related theories as a guide to carry out the theoretical research,this paper uses PEST approaches and Porter Five Forces Model to analyze Bank A’s internal and external marketing environment,and finally,on the basis of optimizing market segmentation and target positioning,proposes optimization plans for four major aspects of Bank A’s current marketing strategy: product,price,place,and promotion,and gives corresponding suggestions for system protection,so as to provide reference opinions for optimizing Bank A’s retail business marketing strategy.