Title: Marketing Strategy of Bank of Qingdao
Author: Zhang Qinyu
Advisor: Prof. Dr. Li Chunyou
Degree: International Business Management
Major: Master of Business Administration
Faculty: บัณฑิตวิทยาลัย (Graduate School)
Academic year: 2566 (2023)
Published: The 15th National and International Academic Conference “Creating Shared-Value and innovation for sustainability” 18-20 January 2023 (pp.941-953) คลิก PDF
Abstract
In recent years, with the gradual improvement of the domestic market economic system, the increasing degree of openness and the increasing number of commercial banks, the market competition pattern of the financial industry has undergone significant changes, at the same time, due to the development of internet finance, interest rate marketization and financial disintermediation, the operation and development of commercial banks have been seriously impacted. For local commercial banks whose core business is public business, the innovation of marketing strategy would be the inevitable choice for the commercial banks to face the market challenge and achieve sustainable development.
This paper took Bank of Qingdao (BQD) as the research subject, applied the modern marketing theory, unified its internal and external marketing environment, objectively analyzed the present situation of the bank’s business and the existing problems in the marketing strategy. And through STP analysis, BQD customers market segmentation, clear target market selection and market positioning. On the basis of the 4Ps marketing strategy analysis, this paper puts forward the improvement measures of BQD business marketing strategy. The objectives of this study were: 1) To analyze the marketing strategy of Bank of Qingdao by applying the STP theory; 2) To analyze the marketing strategy of Bank of Qingdao by the 4Ps theory; 3) To analyze the marketing strategy of Bank of Qingdao based on SWOT analysis; 4) To propose the recommendations for the Bank of Qingdao marketing strategy.
From the four aspects of product, price, place and promotion, this paper analyzed the marketing mix of BQD’s business at present according to the actual situation of BQD’s business, put forward the corresponding marketing strategy optimization program. The paper found that: 1) BQD attaches importance to the value of key customers, at the same time, values the diversification of customers, so as to continuously expand its business. 2) BQD develops different financial products for different financial clients,constantly explores new channels, adopts a variety of marketing mix, and determines a reasonable product pricing. 3) BQD has a geographical advantage and a strong technical advantage, but this geographical advantage is limited to Qingdao. BQD can not expand beyond Qingdao, which becomes a disadvantage. Because of the influence of national policies, BQD attaches importance to the transformation of the business of enterprises in the region and makes full use of social media opportunities, but is still threatened by competition from other banks. 4) On the basis of STP theory, 4Ps theory and SWOT analysis, the paper puts forward the suggestion of BQD, and provides a reasonable design scheme for the marketing and development of BQD. The effective safeguard measures are put forward for the development of BQD. This paper analyzed the causes of marketing problems of BQD commercial banks, with a view to guiding the development of China’s local commercial banks.
Keywords: BQD business, 4Ps theory, STP theory, SWOT analysis, marketing strategy
Marketing Strategy of Bank of Qingdao
6317195484 Zhang Qinyu 2566 (2023) Marketing Strategy of Bank of Qingdao สารนิพนธ์ (Independent Study), Advisor: Prof. Dr. Li Chunyou, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, International Business Management, Bangkok: Siam University
Academic Year 2023, Graduate School 2023, IMBA, IMBA 2023, Independent Study, Independent Study 2023, Master of Business Administration, Master of Business Administration (International Program) 2023, Master of Business Administration 2023, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration,International Business Management