A Research On Company M's Functional Sofa Marketing Strategy

Furniture is one of the most important materials to ensure the basic living needs and reflect the quality of lives of residents.Along with the continuous growing of China's economy,and steady improvement in living standards of residents,also the accelerated development of urbanization process,there is a growing demand for the quantity and quality of furniture,in which case China's furniture industry is also experiencing unprecedented development.Sofa serves as the main seat of work and recreation,which has already become an extremely important part of the furniture industry.Functional sofa,also known as Multi-functional sofa,it refers to the high position and comfortable sofa with certain functions,which originates from the United States,the current functional sofa market in U.S.has been well developed.Along with the growing of China's economy,the domestic function sofa market has arisen,but it still belongs to niche product.Although China's functional sofa market starts late,but its growth rate is higher than the overall sofa market.Company M is the biggest manufacturer of functional sofa in China and the third largest functional sofa supplier in U.S.,who owns the leading brand in China-"CHEERS",which is also one of the leaders of the global sofa industry.Facing with the broad prospect of functional sofa market in China,many competitors have flocked to it,among which there are some outstanding enterprises.In the face of opportunities and challenges,how company M plays its own advantages and improves its disadvantages so as to maintain the leading position of China's functional sofa is what this article focuses on and discusses.It also hopes to provide references for the marketing strategy of Chinese functional sofa manufacturers.Firstly,this article introduces the research background,research purpose and structure of the thesis.Secondly,it states the current market situations of functional sofa market in China,and analyzes the function sofa market environment of company M.Thirdly,it introduces the market segmentation of functional sofa and the target market selection and market positioning of company M.Fourthly,it studies the 4P marketing strategy of company M's functional sofa market.Finally,it summarizes the conclusion of studies.