ICBC Marketing Strategy & Marketing Mix (4Ps)

Published in Services category by MBA Skool Team

Marketing Strategy of ICBC analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on ICBC marketing mix, help the brand succeed in the market. Let us start the ICBC Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:

ICBC Product Strategy:

The product strategy and mix in ICBC marketing strategy can be explained as follows:

ICBC bank provides comprehensive financial products and services. Its marketing mix product strategy can be understood as below-

Personal Banking

1. Personal loan- ICBC offers a variety of loan offerings, over 20 personal loan products such as revolving loan, Card-Loan Link and e-Revolving Loan to meet financial needs.

2. ICBC also offers Bank-Hospital service, precious metal banking, RMB installment Fixed deposit, Personal credibility letter and ICBC money link card.

• Corporate Banking

1. International Banking- ICBC offers credit insurance facility for exporters and sells traveler's cheque and makes payment for all traveler's cheques that has been approved as an advance disbursement.

2. Loan Financing- ICBC grants Liquidity loans to customer for their immediate requirement of funds for business operations and grants Turnaround limited loans to borrowers directly related to capital demands and daily operation.

3. ICBC also offers Institutional Banking, Corporate Annuity Service, Assets Custody Business and Investment Banking.

• E-Banking

1. Mobile banking- Mobile banking services provides an access to all the financial services on your handset.

User can manage account, make or schedule a payment, schedule cash withdrawal, manage wealth, create fixed and time deposits etc.

2. Internet banking- Internet banking channel provides ICBC personal & corporate clients with online financial services, including account inquiry, online bank draft, investment and financing, transfer and remittance, online collection, online agency of payment and settlement, online letter of credit, and high-level account management.

Image: Wikimedia

ICBC Price/Pricing Strategy:

Below is the pricing strategy in ICBC marketing strategy:

ICBC creates its pricing strategy based on the market behaviour, focussing on providing quality services at competitive prices. However, its pricing is primarily based on its own holding and investments.

Moreover, banking services are priced based on the regulations set by Government of China.

Apart from these, ICBC also categorizes its interest rates based on its customer business volume. “High Privilege” customers are provided higher deposit rates and lower borrowing rates. Regular customers are charged government approved rates of borrowing and deposits. SME borrowing are treated with consideration for any waiver in borrowing rates by ICBC based on the nature/type of business.

ICBC Place & Distribution Strategy:

Following is the distribution strategy in the ICBC marketing mix:

ICBC has an extensive service reach across the globe as a part of its marketing mix place and distribution strategy. It also utilizes a high-end IT platform for all ICBC branches in China and overseas. Extensive Global service network: ICBC has China’s largest overseas branch network connecting 383 branches in around 40 countries/territories, spreading over the globe. ICBC also holds shares in Standard Bank of South Africa through which it has indirectly brought the global service network of ICBC to 18 African countries.

IT Support: ICBC has, over the years, developed and tested a software platform, FOVA, which enables it to serve multiple customers spread across various time zones and geographic boundaries.

The software is aimed at all overseas branches which carry out huge volume of transactions.


The promotional and advertising strategy in the ICBC marketing strategy is as follows:

ICBC being a market leader in the Chinese banking industry has extensive brand promotion across China. The brand promotes itself with TV advertisements, online ad campaigns, hoardings across the cities etc. Print media is also extensively used to promote the various product and service offerings. Since it is a big brand, it sponsors many events, conferences etc to reach out to its customers.

Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of ICBC.


ICBC puts a lot of focus on its people. People are the most important aspect of the banking sector whether it is customers or employees. The company has a strong workforce of over 300,000+ people worldwide. These are high qualified and trained bankers with expertise in the industry.


Being a part of the service industry, banks have to be utmost precise about the processes which are in place. For ICBC, which is a market leader in the industry, processes like account opening, banking transactions, deposits, withdrawals, ATM machines, internet banking, mobile banking etc are all flawless, despite the huge network covered by them.

Physical Evidence:

ICBC bank is one of the largest in China and in the world. The bank has thousands of branches spread across geographies and the bank outlets give the physical presence for the brand. Also, the online services through the websites, mob application for banking etc are a representation of the physical evidence of the brand. Hence, this covers the marketing mix of ICBC.

About ICBC:

Established in January 1984, the Industrial and Commercial Bank of China has its headquarters in Beijing, China. Over the years, to accommodate modern day organizational laws, ICBC bank restructured to being a joint stock limited company. Ahead of this, the bank reached greater financial heights with net incomes of USD 30 Billion, these led to the bank being listed at the Shanghai Stock Exchange and The Stock Exchange of Hong Kong. ICBC serves over 5000 corporate and 500 million personal customers across the globe.

Over the years, the bank has provided various services ranging from asset management, investment banking, internet banking amongst others. Owing to this, the bank has been ranked 1st on the Forbes list of Global 2000 companies for consecutive years.

This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

Browse marketing strategy and 4Ps analysis of more brands similar to ICBC. The Marketing Strategy & Mix section covers 4Ps and 7Ps of more than 800 brands in 2 categories.

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The names and other brand information used in the Marketing Strategy & Mix section are properties of their respective companies. The companies are not associated with MBA Skool in any way.

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