Research On Marketing Strategy Of Small Home Appliances Of P Company

After nearly 30 years of development,China’s small home appliance industry has entered a rapid growth period.The entry of foreign home appliance companies and the rise of domestic small home appliance brands have intensified competition in the small home appliance industry,and also accelerated the market-oriented development of the small home appliance industry.Compared with overseas markets,such as Japan,South Korea,Europe,the United States and other developed countries or regions,the penetration rate of other types of small appliances is still low in China except for kitchen small appliances.Low holdings and low penetration rates also mean that the market potential is huge.At present,the overall market of China’s small household appliances has exceeded 400 billion RMB,and it continues to grow.The online sales of small appliances have exceeded 50%.With the diversification of online sales channels,e-commerce platforms bring more convenience to consumers,and the amount of online sales will continue to increase.P Company is one of the leading companies in the small appliance market,but with the change of consumer groups,changes in consumption patterns,and continuous improvement of domestic small appliance R&D,the advantages of P Company in the past are not obvious any longer.The external cause is the enhancement of domestic small household appliance brand manufacturing capabilities,the quality gap between products from foreign brands is narrowing,and foreign brands are adjusting their marketing strategies to meet the needs of China’s huge market users.The internal reason is that the organization of P Company is huge and not sensitive enough to market response.Its market development strategies and marketing strategies are also obsolescence.In order to enable P Company to achieve sustainable development in the fierce competition,increase sales,and expand market share,This article focuses on the marketing strategy of P Company’s small home appliances,and uses PEST analysis and five-force model to analyze the company’s external environment.By analyzing the pros and cons of the company’s internal resources,it is concluded that small household appliances of P Company should redesign its marketing STP strategy,target middle and high-income people in high-tier cities through market segmentation.With reference to factor analysis,it is concluded that P Company’s small appliances should adopt differentiated market targeting strategies.Then it analyzes product differentiation and competitive advantages.According to the product characteristics and corporate positioning of rival brand,it is obvious that P Company has rich enterprise resources and strong strength.They should adopt a head-on positioning strategy to target the mid-to-high-end market and establish a clear High-end brand image.Combined that with the marketing mix of products,price,palace and promotion,it puts forward the specific marketing strategy that P Company should adopt.Among them,Promotion strategy is the focus,mainly using new media communication as the brand communication method,and at the same time,increasing brand share through e-commerce platform promotion activities.New media platforms such as Weibo and We Chat have profoundly affected all aspects of people’s lives.These platforms’ business value has also been continuously improved.In contrast with traditional media,new media platforms allow two-way communication with users.In the era of information overload,communication and interaction can deepen the brand’s impression and increase brand reputation.We Chat Official Account and Weibo provide good communication channels for brand promotion,event promotion and product display.With the development of the Internet and technology,new communication methods will play a greater role.In addition,through the online and offline integration strategy,online drainage and offline experience methods,create a new retail model.This article analyzes the current situation of China’s small household appliances market through a variety of research methods,proposes an optimization plan for P Company’s marketing strategy in China,and at the same time provides a reference for related companies competing with foreign peers.