Marketing Strategy Study On Novelty Products Of Company M

Company M is a start-up,initially started to sell its products through overseas crowdfunding platforms.After accumulating some successful experience in the operation of several products,Company M started to help small and medium-sized Chinese companies to presell their products in overseas crowdfunding platforms to raise funds and charge service fee.However,Kickstarter and Indiegogo,two of the world's largest crowdfunding platforms for presale,both declare that they are not responsible for projects that fail to deliver products on time.This means that if the successful fund-raising project manager absconded,investors' legitimate rights can not be effectively protected,which will certainly reduce the enthusiasm of investors.At present,the consumption of innovative products in the world is huge every year.Therefore,in 2017 Company M founded MicroNovelty brand of innovative products and built its own B2 C platform,based on the successful experience in the past.The goal is to collect innovative products together and upgrade them in either function or design,to meet the demands of overseas markets.However,as a start-up with a low brand awareness,it takes time to transfer from the existing crowdfunding platform to its own B2 C platform.Meanwhile,in the process of marketing development,Company M also encounters many problems,which need to be solved ASAP.This article analyzes the marketing environment of company M,including industry development status and trend analysis,industry competition environment analysis,consumer analysis on novelty products,internal environment analysis as well as SWOT analysis.Subsequently,taking the geographical location and demographic segmentation as segmentation standard to identify target customer.Their target customers are middle and high-income earners who like innovative products in the European and American markets,among which,men make up the majority.Aiming at some problems Company M is facing,combined with the current operating status of Company M,this paper formulates corresponding marketing combination strategies and supporting measures from five aspects of product,price,place,promotion and customer relationship.In terms of products strategy,product portfolio strategy and new product development strategy are suggested;in terms of pricing strategy,differential pricing,new products pricing,price adjustment strategy based on market demand and competition are suggested;in terms of place strategy,it is proposed to perfect the existing marketing channel,including direct marketing channel,indirect marketing channel,in terms of promotion strategy,social media,public relations,online promotion,advertisement & exhibition are combined;in terms of customer relationship strategy,it's divided into customer sticky strategy and customer retention strategy.