Research On International Marketing Strategy Of LS Auto Parts Company

With the continued increase of vehicle holdings,the automobile market has gradually expanded its demand for auto parts and raise its requirement in various aspects.The development of the domestic automotive factory-installed market and aftermarket can no longer meet the needs of auto parts manufacturing companies to maintain their benign growth and development.LS Company is one of the oldest manufacturers in auto parts for German car models in Chinese mainland.Owing to the increasingly fierce competition in the global market,the rapid development of domestic auto parts competitors,and its own drawback,LS Company has struck in the bottleneck in its international market expansion.What’s worse,the global outbreak of COVID-19 in 2020 makes LS Company more challenging to pave the way to the international market.This research focuses on how LS Company develops and implements an effective set of marketing strategies to expand its international market.First of all,it gives a detailed description of the LS Company,with its background research for its economic scales,business models and its general marketing policies.By mapping all details into SWOT analysis models,the finding clearly given the indication of future opportunities and the current strengthens,as well as its weakness and threads.It then moves on to the discussion and the analysis of the existing problems lying in LS Company’s international marketing management.This paper studies the macro marketing environment of LS Company in terms of policy,economy,society,and technology with the help of the PEST analysis method.Then,based on Porter’s Five Forces Model,it describes the competitive situation of the auto parts industry of LS Company,in order to suggest targeted solution strategies.It attempts to figure out the main problems existing in the LS Company’s international marketing positioning and corresponding strategies at the current stage.As for the international auto parts market,this study refines market segmentation under the guidance of STP theory to clarify the target market and product positioning of LS Company.In addition,it formulates a feasible and practical international marketing strategy for LS Company with the help of 4Ps marketing management theory.Finally,it proposes some suggestions for LS Company to improve its management and build an outstanding sales team in order to ensure the efficiency and feasibility of international strategy.In sum,this research can not only solve LS Company’s practical problems and help to expand the international market into developing its core competitiveness,but also supply new insights for domestic similar companies to develop foreign trade.