Traditional financial application in China

With the globalization of financial market, the integration of global capital and the modernization of communication technology, the opening of financial industry, as an important part of service trade, will inevitably make traditional financial marketing suffer a great impact. The competition among financial entities is becoming increasingly fierce, which is not only manifested in the competition of financial enterprises in improving service facilities, improving service quality and enriching service means, but also in the deep-seated competition of innovating financial instruments and developing targeted financial services. How to innovate China's financial marketing concept, develop and combine new financial products, and implement various marketing strategy innovations is the need for financial enterprises to obtain good development space after joining w to. This paper intends to make a preliminary discussion on financial marketing.

First, the development and characteristics of financial marketing

1, the development of financial marketing

1. The embryonic stage of financial marketing-from the late 1950s to the 1960s. 1958 first mentioned the application of marketing in banks at the national joint meeting of banks. In Britain, it was not until the early 1960s that a few banks realized that marketing research was very important for their future development and current business activities, and introduced marketing ideas into the financial field. At this time, financial marketing is still in its infancy. Throughout the 1960s, the development of marketing in the field of financial services was very slow. Although some banks began to adopt advertising and other marketing methods, they did not fully realize the important role of marketing in the whole enterprise operation.

2. The development stages of financial marketing-1970s and 1980s. Since the mid-1970s, many financial enterprises have begun to realize that their business is essentially to meet the growing financial needs of customers, and marketing innovation has become the mainstream of financial marketing development in this period. During this period, the characteristics of western financial marketing are the change from simple marketing methods to the extensive use of marketing ideas, and market segmentation and enterprise positioning are the focus of financial enterprise research. In 1980s, the financial service industry in western countries developed rapidly and became one of the fastest growing industries in the whole economic activities. As an organizational function, marketing has undoubtedly established its position in the field of financial services. The function of marketing as a business idea needs further study.

3. The mature stage of financial marketing-since 1990s. Since 1990s, some new features have appeared in financial marketing in western countries. The focus of financial marketing research began to shift from banks to other financial institutions, and the core of financial marketing research shifted from strategy to relationship. International marketing and network marketing have become new research hotspots: marketing innovation has reached a new climax; Financial enterprises put more emphasis on face-to-face service; Due to the increase in income of white-collar workers and the new generation, retail banking has begun to be re-valued. At the same time, their financial marketing is also facing new challenges, and the following problems must be solved: how to better adapt to the rapid changes in the environment and maintain their core competitiveness; How to carry out strategic cooperation between financial industries; How to better meet the personalized needs of customers and provide value-added services; How to carry out internal marketing; How to face financial globalization and prepare for interest rate marketization?

2, the main characteristics of financial marketing

1. From the perspective of the positioning of financial institutions as the main body of financial marketing, financial enterprises, as providers of financial services, should not only develop different financial products and services according to the needs of different investors in fund-raising activities; It is also necessary to develop and provide different financial products and services for different customers in capital utilization activities to meet the requirements of capital demanders and ensure the efficiency and quality of capital utilization. In addition, it is necessary to give full play to its position and role as a trading intermediary and actively provide various intermediary services for customers.

2. From the point of view of consumers of financial services, the object of financial marketing, with the development of economic integration and financial liberalization, the financial market is becoming more and more mature, and all-round, multi-functional and multi-channel financing and transaction settlement are possible, which also makes the number of financial consumers participating in financial activities increase day by day, the composition is more and more complicated, and the requirements for the quality of financial services are getting higher and higher.

3. From the purpose and requirements of financial marketing, it is the main purpose for enterprises to provide financial services to maximize profits. In order to achieve this goal, enterprises must provide consumers with all kinds of high-quality and efficient financial services, because the provision of financial services and the consumption process of services are often synchronized. The two are inseparable in time and space. The synchronization of the provision and consumption of financial services requires financial enterprises to constantly improve their professional quality, establish a good corporate image and win more customers by providing standardized services.

4. From the perspective of various financial products as financial marketing objects, they are carriers associated with specific financing forms in financial activities, tools for fundraisers and investors, objects for financial managers to buy and sell in the financial market, and labor achievements of financial engineers and technicians. Its characteristics are mainly as follows:

(1) is invisible in form. It does not take any specific material form to display, but usually takes the form of account book registration, contract documents and so on. When people buy a financial product, they don't have to hold a specific financial asset, but only need to keep a certificate representing the asset.

(2) essential consistency and substitutability. Financial products are different from general physical products, and the use value and value overlap, which is a manifestation of the value scale. The consistency of this product nature endows different financial products with substitutability, which is easy to be imitated by other financial enterprises and increases the difficulty of competition.

(3) the diversity of expression forms. Financial products are very different in form because of their different maturities, liquidity, risks and issuers. Fundraisers can use these differences of different financial products to attract different financial investors; Investors can also use these differences to make reasonable investment choices and realize their participation in financial activities.

5. From the way of financial marketing, in financial enterprises, employees become the main body of marketing activities, and the status of employees directly determines the degree of customer satisfaction. Therefore, when financial enterprises do a good job in external marketing between enterprises and customers, they must treat front-line employees as internal "customers" and do a good job in internal marketing of front-line employees, including job design, employee recruitment, employee training, mutual communication and encouragement. Successful internal marketing is the premise of successful external marketing.

(1) Scientific market positioning and product innovation. Strengthen the research on the customer market, divide enterprises and the public into several consumer groups according to the characteristics of homogeneous demand, and provide unique financial products, services and marketing combinations to the selected target customer groups according to the different needs of customers, so as to continuously extend and expand new markets while maintaining customer loyalty.

(2) Continuous innovation of financial products and services. The innovation of financial products and services is not only related to technological innovation, but also related to the innovation of financial market system. It is mainly achieved by adopting and using various financial products and services that change the structure of the financial market. On the basis of market segmentation and reasonable positioning, financial enterprises should innovate different products and services in time according to the different needs of consumers to meet these needs to the maximum extent.

Second, the status quo of financial marketing and countermeasures

1, Financial Marketing Status

1. The marketing concept is out of date. In the financial business activities, the business philosophy of most banks still stays in the promotion stage of financial products, especially some senior bank employees who are in charge of loans are condescending to customers who want him. This bank-centered management orientation obviously does not meet the competitive requirements of modern financial markets.

2. The understanding of marketing is not comprehensive. Although some use the ideas and techniques of marketing for reference in their business strategies, they often regard promotion as marketing, and only use advertising and publicity and public relations strategies sporadically when promoting their products. Publicity lacks integrity and consistency, fails to combine the image publicity of bank products with the bank's business philosophy, and even lacks overall marketing. Although some banks frequently adopt new tactics in marketing, their marketing mix strategies often conflict with the macro-environment in which enterprises are located, and illegal operations continue to appear in their business activities.

3. Marketing lacks strategic objectives. The blindness and randomness of marketing strategies are mainly manifested in: (1) generally lacking long-term analysis, positioning and control of the market, simply following the trend of financial market competition and passively using marketing means such as promotion and innovation; (2) The work in improving service attitude, optimizing service quality and improving service level is not linked with marketing strategic objectives and marketing strategies, and lacks pertinence, initiative and creativity; (3) In terms of marketing strategy, public relations and promotion are the basic ways of business development, and there is no scientific combination of diversified marketing strategies. (4) Although high technology is used in channel design, the expansion strategy of distribution channels is still to increase business outlets, which makes it difficult to form efficient marketing channels.

4. Lack of marketing professionals. The knowledge structure of employees is basically financial majors, few marketing professionals enter the enterprise, and most of the recruitment and training of enterprises pay attention to financial majors. The staff responsible for the marketing of financial products are mostly transferred from other departments to do simple advertising and promotion activities. At present, in the professional composition of personnel, professionals who are proficient in marketing theory, marketing strategy, planning and implementation are rare.

5. The financial market is immature. The price formation mechanism and trading mechanism of financial products are single, and the market operation has not yet been formed, which greatly reduces the price strategy and price combination of banks. The relationship between property rights is vague, the corporate governance structure is imperfect, and financial marketing lacks internal driving force. State-owned financial institutions have undertaken too many macro-control functions, and when they conduct market segmentation and target market selection, they will inevitably take policy factors as an important parameter in the final formulation and selection of marketing strategies. The proportion of non-performing assets in commercial banks is generally high.

Second, the methods and strategies of financial marketing

1, integrated marketing strategy. The concept of financial marketing should be the idea of integrating marketing concepts, and all departments that play the marketing function should coordinate their actions in terms of products, prices, channels and promotions under the unified command to achieve comprehensive economic benefits. To this end, financial enterprises should first establish the concept of "big market", that is, break through the traditional time and space boundaries and establish all-round and full-time services. From the traditional homogenization and large-scale marketing concept to the personalized marketing concept.

2. New product development strategy. To develop new financial products, we should identify the "niche points" and try our best to increase the functions of the products to meet the interests of customers. We can adopt different methods such as imitation, combination and innovation. We can also learn from the successful experience of foreign banks in this regard. In order to meet the new needs of customers and the needs of banks' own development, we should pay attention to the combination development of products and the renewal of services.

3. Promotion strategy. After China's entry into WTO, in the face of strong competitors, China's financial enterprises should increase investment in the use of promotion strategies to form a scale; On the other hand, it is necessary to organically combine all kinds of good promotion methods and make a series of promotion methods, unified planning and organization, so as to achieve good overall results. The main strategies of promotion are advertising promotion and marketing promotion. The promotion tools commonly used in the financial industry at home and abroad include prize-winning sales, gifts, supporting concessions, free services, relationship marketing, joint promotion and so on. The third is the promotion of personnel. Fourth, public propaganda and public relations.

4. Product terminology strategy. When doing a good job in product strategy, we should make good use of the term strategy of wealth management products and formulate relevant promotion strategies according to the length of time from entering the market to the final listing of wealth management products. Firstly, according to the developed degree of financial market, the marketing strategy of financial products is determined. In developed financial markets, more financial products with longer marketing period can be appropriately promoted; Second, timely and flexibly adjust the term of wealth management products. Use some additional conditions to adjust the marketing period, disperse the burden of monetary payment, adjust the debt structure of enterprises, improve the competitiveness of enterprises' products and improve their reputation.

5. Knowledge marketing strategy. Under the customer-centered concept, financial enterprises should strive to develop new financial products and services with high knowledge content and actively guide customers to use them. This requires financial enterprises to adopt knowledge marketing, strengthen knowledge exchange with customers by providing knowledge services, let customers know how to use financial products and the convenience brought by using financial products, and become loyal customers of banks.

6, brand manager marketing strategy. On the premise of maintaining the overall image, values and corporate culture of financial enterprises, or under a common brand image, how to shape their own characteristics, form loyal consumer groups of their own brands, win a broader market and living space for financial enterprises, and avoid the embarrassing situation that one brand group of financial enterprises conflicts with another.

7. Network marketing strategy. The network has obvious advantages and can provide customers with more convenient and efficient services. The network breaks the time-space boundary and can provide services 24 hours a day, and it is not limited by geographical location. At the same time, both advertising and commercial transactions can save costs, which also creates conditions for further reducing customer costs.

8. Service marketing strategy. We must integrate the advantages of performance service while strengthening the innovation of core service and realize the differentiation strategy of service. Only by establishing the concept of "great service", strengthening the awareness of "great service" and actively improving and innovating service varieties, service means and service facilities can financial enterprises provide high-quality, efficient and high-level financial services for the society, win competitive advantages and establish a good image. The materialization of service products can be realized in three aspects: the materialization of financial service products, the materialization of service environment and the materialization of service providers.

9. The transformation strategy of marketing concept. First, set up an account manager in the enterprise organizational structure. The account manager embodies the requirements of marketing orientation, and its main responsibility is to develop customers; Provide customers with business consulting, financial support and new business varieties; Keep close contact with customers, find and solve problems in time, and feed back customers' voices and needs to enterprises; Establish a customer service center.

10, cooperative marketing strategy. Facing the new situation of all-round and multi-level competition after China's entry into WTO, cooperative marketing and vertical integration are more important and urgent than ever. It can be predicted that in the future financial market competition, there will be various new forms of cooperative marketing, which will undoubtedly enable financial enterprises to achieve the best comprehensive benefits in the competition, help promote the stability of the financial market and safeguard the interests of financial consumers and investors.

1 1, internal marketing strategy. "Internal marketing" means that the decision-making level and leadership of an enterprise must be good at managing people and helping subordinates do a good job. It is required to attach importance to and do a good job in the training and training of internal employees. At the same time, through the formulation of enterprise work standards, service standards, and a series of internal marketing publicity and education, employees can establish the concept of marketing services, be familiar with the characteristics of their services, and understand the important role of the communication and reaction process between employees and customers in the success or failure of their business operations.

12, fickle marketing and rapid marketing strategy. The future financial industry must cultivate employees' customer-oriented awareness, fully understand customers' constantly updated needs and seize new market opportunities. Timely launch new products and concepts to provide new services to customers. Secondly, in the market of products and services, "fast break" and "early arrival" are one step ahead of competitors. When other enterprises follow suit, fast-moving enterprises will create new hot spots. The market economy is like a competitive competition, and the winner is only the one who stands out first.

13, characteristic marketing strategy. On the basis of grasping the trend of financial demand through market research activities, financial enterprises should clearly understand their business environment and marketing priorities, establish business development goals in a timely and appropriate manner, provide different services according to different consumer needs, and adopt different marketing strategies. On the basis of market segmentation, financial enterprises should identify their own advantages, highlight their own characteristics, and choose target markets. In terms of service content, service channels, service image, etc., we will develop service projects in a targeted and creative way, adopt delivery means superior to others, and deliver them to consumers quickly and quickly to meet the needs of target customers.

14, cultural marketing strategy. We must constantly cultivate and expand our own brand, improve the knowledge content of the brand, produce financial products, and build well-known brands in the industry, so as to gain a firm foothold in the diversified international and domestic financial competition pattern and not be eliminated by the times. Meeting and exceeding customer needs is the cornerstone of the development of marketing culture. Especially, the unique cultural characteristics of "human feelings" in the social environment of China make the operation of China Commercial Bank have unique relationship characteristics. According to the traditional Chinese cultural concept, we should strengthen the spirit of corporate culture, enhance the cohesion, motivation, binding force, guidance, adjustment and radiation of bank employees, cultivate employees' values and codes of conduct, improve their sense of identity and stimulate their initiative and dedication.

15, distribution channel strategy. In order to further expand the market scope and increase the market capacity, the financial industry should establish various intermediate links as soon as possible, including various agency networks and brokerage networks. Use wide and smooth distribution channels, that is, tangible distribution outlets and intangible internet, to communicate information between financial enterprises and consumers, save more funds for financial enterprises, and make funds more effectively invested in technology development and expand service scale. It is necessary to rationally adjust the branches of direct sales channels, continue to merge some loss-making and unprofitable branches and outlets according to the principle of economies of scale, actively adjust the layout of outlets, optimize the structure of outlets, improve the operation efficiency of outlets, and change the situation of poor benefits. According to the economic strength and economic structure in the regional economy, distribution institutions are set up at different levels. At the same time, it is necessary to expand indirect distribution channels, accelerate the development of new distribution channels, improve their scientific and technological content, and make product sales convenient and smooth.

16, market positioning strategy. Market positioning includes product positioning and corporate image positioning. Marketing market positioning steps (1) for market analysis. Mainly to segment the financial market. Market segmentation can be carried out according to different standards. By subdividing the marketing market, we can understand the market scale, position and future development trend, and find out the basis for choosing the target market. (2) Evaluate internal conditions. When evaluating internal conditions, we should not only see our own advantages, but also find out our own disadvantages and predict the opportunities and challenges that the future market will bring to enterprises. (3) competitor analysis. Including analyzing the advantages and disadvantages of competitors and their current positioning, that is, the impression of deposit products accepted by customers, and comparing the current positioning of this enterprise with competitors, so as to know ourselves and ourselves.

17, corporate image strategy. Corporate image (CI for short) is the general and general understanding and evaluation of the enterprise by the public. It is a rational representation of the real state of the enterprise and a tool for the exchange of information and ideas between the enterprise and the public. Corporate identity system (CIS) has three subsystems: corporate spirit image (MI); Corporate behavior identification (BI); Enterprise visual identity (VI for short). Commercial banks should be good at publicizing and highlighting their own business characteristics when formulating CIS strategy. Specifically, it is required to set up a "CIS strategy leading group" to be responsible for the formulation and implementation of CIS strategy. The members of this group can be composed of the president or the president in charge, front-line marketers, marketing experts and CI planning experts.

18, the big marketing concept of multiple thinking. Establish a big marketing concept, make full use of limited human and material resources, carry out marketing in an all-round way, form a new management system with marketing as the leading factor and internal management control as the guarantee, and effectively improve the responsiveness and competitiveness to changes in the market economy. Pay full attention to the strength matching between the relationship subjects, coordinate and optimize the relationship with peers and media, and create a good external environment for their own development. Insist on establishing the marketing strategy of high-quality products and famous brands. Customers can not only identify their own brands from many financial products, but also choose famous brand enterprises in terms of scale, quality, variety, quantity, service and reputation.

19, overall marketing strategy. That is to say, in marketing activities, we should take the end customers, competitors, allies, government departments, internal employees, mass media and other public as our marketing targets and carry out marketing activities in an all-round way. It requires actively improving all aspects of the micro-marketing environment and establishing and improving relations with all aspects through internal and external public relations activities. Reform the single property right structure and hierarchical authorization agency system, implement the shareholding system reform, improve the corporate governance structure, and solve the institutional problems of limited marketing strategy. Establish financial business marketing mechanism and financial product innovation mechanism, improve human resource utilization mechanism and restraint and incentive mechanism, and provide a perfect internal environment for banks to implement marketing strategy. Establish strategic and tactical alliances with peers and other financial institutions to complement each other's advantages, save transaction costs and improve service content.

20. Product pricing strategy. The basic factors to be considered in product pricing are demand and risk degree. At the same time, we should also consider the government's financial regulations and the degree of risk. The formulation of prices must be based on compliance with financial laws and regulations, and sometimes subject to national economic policies and macro-control requirements. The following three pricing strategies can be adopted according to the situation: First, different pricing methods are adopted according to different life cycles of financial products. In the stage of product innovation and the initial stage of entering the market, skimming pricing method is used to price in order to obtain the maximum profit in the shortest time; In the product development period, the price of products is adjusted by penetrating pricing method to form economies of scale and achieve the purpose of monopolizing the market. Second, pricing is based on the price elasticity of financial products. According to their own business objectives and marketing mix, different buyers can charge different prices for the same product, allowing salespeople to adjust the sales price of products according to different market conditions, so that salespeople can flexibly adjust the sales price of products to attract more customers. Third, pricing is based on price discounts and subsidies of financial products. According to the seasonal change of customers' capital demand, the price of financial products is flexibly adjusted in different seasons to adapt to the changes in the market; According to the analysis of their own marketing expenses and customers' credit rating, give payment grace to customers with large purchase transactions or good relationships; You can also give customers various discounts.

2 1, financial marketing mix management strategy. We can adopt the mode of formulating and modifying industrial investment policies under the regional distribution policy. Firstly, according to the proportion of output value (sales) and its growth rate, industry average profit rate, industry scale and other indicators, the industries are scored and ranked, and the industries are divided into mature industries, growth industries, declining industries and uncertain industries according to the scoring situation. Formulate investment policies according to the above four types of industries. The scale of credit can be maintained or expanded for mature industries; Growth industries expand credit scale under the condition of controlling risks; Declining industries gradually reduce the credit scale, and pay attention to the alternative industries of these industries, and transfer the credit scale reduced by declining industries to these industries; Pay close attention to investment opportunities in uncertain industries and prepare for the adjustment of credit investment in the future. Secondly, in order to study the industrial structure of different regions, all branches of commercial banks must pay attention to the similarity of industrial structure between regions in this respect. In particular, it should be noted that by then, the dominant industries and pillar industries in this region may become inferior industries nationwide and have to be eliminated or transferred. Studying the situation and trend of industrial transfer law between different regions is helpful to identify the industrial change mode in this region and choose the advantageous industries in change. In the regional scope, according to the regional distribution policy, different varieties and credit lending policies are implemented. Third, pay attention to the influence of international industrial structure changes and industrial transfer on domestic industrial transfer, so as to adjust the above-mentioned industrial classification, and then modify the regional distribution policy and credit investment policy. This is particularly important in the face of shocks. According to the possible changes in industrial structure after China's entry, we will adjust the regional distribution structure and industrial distribution structure of assets in advance and change industrial investment.

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