Research On Product Line Expansion Of MD Company

With the rapid development of China's marketing economy,globalization and intellectualization are intensifying,and traditional manufacturing industry in China is getting fiercer and fiercer,so that their advantage of low cost has been lost and the traditional mode has become invalid.Therefore,many enterprises are struggling or even facing bankruptcy.Now all enterprises are looking for a way out.MD Company is one of them.In view of the great challenges faced by China's traditional household appliance manufacturing industry,its downstream enterprises,i.e.compressor and motor industry,which are important accessories of household appliances,are all contending with each other.MD Company,based on this,proposes strategic adjustments that urgently need to be expanded and innovated in its product line and marketing mode,and tries to improve its product competitiveness and brand influence through changes so as to keep enterprises in the leading position in the industry.Combining theory with empirical evidence,according to the research steps from the theory-positive-measure application,a complete product line expansion plan and new marketing model for MD Company is built to improve its profit level and enhance its competitiveness and stand at the top of the industry.From the fierce competition market the company faces,product homogeneity and sharp decline in profitability,MD has conducted in-depth research and analyzed its product characteristics and market environment from the overall development status,then proposing product line expansion ideas and new marketing model.Using case study method,SWOT,differentiation theory and customer-oriented research method,the product line expansion and new marketing model are drawn: the product field is expanded from traditional household electric motors and compressors to new energy automobile motors and compressors,marketing strategy shifts from extensive marketing to precision marketing.Technical marketing replaces traditional marketing.Through product technology plus service platform,the sales model of service-driven products is launched,and differentiated value is obtained through differentiated operation.The establishment of the innovation department,MD pays attention to the intensity of research and development and the proportion of effective patents,MD finally succeeded in the transformation of the three strategic spindle strategies of “product leadership,efficiency drive and global operation”.Through product line expansion and marketing strategies,product technology and process update,MD has successfully transformed the company into a globally operating technology-based enterprise whose competitiveness is enhanced,standing at the top of manufacturing companies.The ideas in this case hope to provide new reference for other similar enterprises.