Research On Watson’s Private Brand Products Marketing Strategy

Watson is a large retail chain enterprise in China.It has obtained the agency rights of 19 retail brands and 8400 offline sales stores.At present,the number of Watson offline retail stores in China has exceeded 1000,becoming the largest retail chain enterprise in China.With the increase of fierce competition in the retail industry,Watson reduces product costs and relieves the pressure on supply channels by introducing its own brands.Watson’s private brand products are processed on behalf of others,and its product quality is less competitive than that of major international brands.In order to attract more customers,Watson must solve the problem of how to become its private brand in the market.This thesis formulates Watson’s private brand marketing strategy from the perspective of marketing,which can provide a reference basis for the development of retail enterprises,which is of great significance.This thesis uses the methods of literature analysis and questionnaire survey,and uses the advanced marketing theory to analyze Watson’s marketing status and market environment,so as to provide reference for the selection of its target market and the formulation of marketing strategy.In the analysis process,the thesis first analyzes the development status of Watson’s private brand in the form of questionnaire,obtains the characteristics of Watson’s private brand products and the recognition of consumers,and summarizes the advantages and problems existing in the development of Watson’s private brand.Then it uses pest to analyze the macro marketing environment faced by Watson’s private brand,uses the five forces model to analyze the threats and bargaining power faced by Watson’s private brand,and uses SWOT analysis tool to analyze its advantages,disadvantages,threats and opportunities in its development.On this basis,it analyzes the market segmentation of Watson’s private brand,and gives the choice of its target market and the positioning of its product market.Finally,the optimization of Watson’s private brand marketing strategy is given,such as adding innovative products,product portfolio optimization,product packaging optimization and display adjustment;Skimming pricing method and penetration pricing strategy are adopted;Expand offline sales channels,strengthen channel monitoring,comprehensively layout e-commerce and cross-border cooperation;Strengthen advertising,free experience of new products,set up flash stores and carry out online comments.At the same time,it gives the marketing guarantee measures of Watson’s private brand,which effectively ensures the smooth implementation of Watson’s private brand marketing strategy.