China Construction Bank Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of China Construction Bank through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
China Construction Bank Product Strategy:
China Construction Bank provides a huge array of products and services. China Construction Bank mainly operate in three business segments namely treasury operations, corporate and national banking. Besides these 3 principal segments, they also have consumer banking, financial operations, investment banking and operations, global wealth management and services like residential mortgage, infrastructure loans and credit cards. This gives an insight on the China Construction Bank product strategy in their marketing mix.
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This concludes the product strategy in China Construction Bank marketing mix & strategy.
China Construction Bank Price/Pricing Strategy:
Below is the pricing strategy in China Construction Bank marketing mix strategy:
The interest rates and pricing in China Construction Bank is controlled by an central bank authority. However, their pricing strategy is different compared to its competitors.
They lower prices for their products and services over other banks or have flexible pricing policies based on competition or market conditions or the growing economy. Hence the marketing mix pricing strategy is government controlled like any other bank.
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China Construction Bank Place & Distribution Strategy:
Following is the distribution strategy in the China Construction Bank marketing mix:
China Construction Bank has 14,000+ branches and sub branches in Mainland China.
Besides these domestic branches, they are present overseas in London, Paris, Hong Kong, Singapore, Frankfurt, Johannesburg, New York, Seoul, Tokyo, Osaka, Sydney, Melbourne, Ho Chi Minh City, Macau, Toronto, Taipei, Luxembourg, Amsterdam, Brisbane, Milan, Barcelona, Zurich and Dubai.
China Construction Bank Promotion & Advertising Strategy:
The promotional and advertising strategy in the China Construction Bank marketing mix is as follows:
Promotion is a vital part of every brand and helps in increasing loyalty and awareness. Banks mainly work on word of mouth marketing as when new schemes are launched and they have extra benefits, the word automatically spreads around. Besides this, China Construction Bank also provides extra benefits with their loans and credit cards. They also have interest free and premium free investment plans as well as priority banking options.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of China Construction Bank.
People:
Zhang Jianguo is the President of China Construction Bank along with Zhu Xiaohuang, who is the Executive Vice President and Chief risk officer. Over 300,000+ employees are engaged with the organization worldwide. The company has more than 340 million personal customers and over 3 million corporate customers.
Process:
China Construction Bank being a bank has developed products which involve different sections of customers. They have a huge array of products that operate in different business segments. The various processes like banking, account opening, deposits, withdrawals, fund management, mutual funds etc are effectively managed and serviced by the bank.
Physical Evidence:
China Construction Bank has a presence in China and 25 countries worldwide. The services they provide are in three different business segments thus providing benefits to everyone. The physical evidence is evident from the bank branches and touch points spread across the world. Hence, this covers the marketing mix of China Construction Bank.
About China Construction Bank:
China has four major banks one of which is China Construction Bank which is headquartered in Beijing. Owing to a market capitalization of more than US$170 billion, China Construction Bank was ranked the among the largest bank in the world.
They have numerous branches in China and abroad. The bank offers several services like retail banking, commercial banking, wealth management etc.
Browse marketing strategy and 4Ps analysis of more brands similar to China Construction Bank. The Marketing Mix & Strategy section covers 4Ps and 7Ps of more than 800 brands in 2 categories.
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