Research On The Optimization Of Marketing Strategies Of Bank A’s Wealth Management Business Under The New Regulations On Asset Management

With the rise of people’s economic level,the demand for wealth management is increasing,and therefore wealth management business has become the most concerned topic in the field of China’s financial industry at this stage.The superposition of multiple demands further enhances the growth and development of wealth management business.Currently,China has introduced new regulations on asset management,and the central bank has reiterated that the new regulations on assets will start at the end of 2021,which requires banks’ wealth management business to make a corresponding transition transformation.In this context,investors face the need to make changes and adapt during the transition period,and it is even more difficult for banks to carry out wealth management business.Therefore,major commercial banks must make the transition of wealth management products as soon as possible,and guide investors to change their investment philosophy and truly accept net worth products to better adapt to the future market development.This paper focuses on the actual situation of Bank A’s wealth management business under the new regulations of asset management,taking the actual situation of Bank A as an example.Under the guidance of STP theory,the market segmentation,target market and market positioning of Bank A are analyzed.Through questionnaire survey method and actual interviews,we analyze the problems in marketing Bank A’s wealth management business under the new asset management regulations,which are in the areas of insufficient product variety,weak market pricing power,narrow sales channels,single promotion means,low professionalism of personnel,long service process,and lack of tangible display.Further,the causes of the problems are analyzed,focusing on the lack of innovation in product development,products priced by the head office,imperfect channel construction,insufficient investment in capital and technology,insufficient training in staff professional skills,deviation in marketing concepts of managers,and difficulty in tangible display of financial products.Finally,based on the 7P theory,this paper analyzes the internal and external marketing environment of Bank A’s wealth management business and proposes business marketing optimization plans and safeguards from the perspectives of product,price,channel,promotion,personnel,service process and tangible display.In summary,this paper explores the current situation,problems and causes of Bank A’s wealth management business under the new asset regulations,and proposes corresponding optimization strategies and safeguards after analyzing the internal and external environment in which Bank A operates.This paper will help Bank A to optimize its existing marketing strategy,adapt to the environmental changes and achieve transformation and upgrading.