Research On Marketing Strategy Of The T Company

As a state-owned non-ferrous metal casting enterprise,T Company is affiliated to China Shipbuilding Industry Corporation.Its main business is the processing and manufacturing of marine copper alloy propellers.As one of the earliest companies to enter the domestic propeller market.Relying on its own resource advantages as well as coinciding with the rapid development of the industry,T Company has achieved its leap-forward development and has become the largest professional marine propeller manufacturer in China.Since the financial turmoil triggered by the US subprime mortgage crisis swept the world in 2007,the shipbuilding industry has suffered an unprecedented fatal blow.With the continuous deterioration of the market environment and the intensification of competition in the industry,the problems emerged in the marketing and insufficient product strength in the high value-added monopoly market have become more prominent.Followed with the adjustment of national policies,the monopoly situation is now being gradually broken,which will directly shake the foundation of the company's survival and development.Moreover,facing the severe competition of the homogenized market,large-scale and super-large-scale marine propeller lack core competitiveness,thus price war has become the only means of competition,profit space has been gradually squeezed.The expansion of emerging markets was insufficient,which leads to a weakness in subsequent development.In view of the main problems in the marketing work of T Company,the author analyzes both the external and internal marketing environment of T Company in order to find out the primary causes of the problem.Based on T's own resources,capabilities and its own problems,this research tries to find out the final marketing direction of T Company through ways of segmenting domestic propeller market,selecting target markets and market positioning.This paper uses the marketing 4P theory to select three target markets for T company: high value-added propeller market,large super large propeller market and international pitch paddle parts market,studying from the product,price,channel,promotion,service and CRM to T company Marketing Strategy respectively,combining with their own work experience to propose practical marketing strategies and safeguard measures.