Research On The Optimization Of Brand Marketing Strategy Of Domestic Medical Devices

With the improving of people’s life quality,China’s medical device market,as a new strategic industry related to life and health,has been rapidly increasing in recent years.Due to the COVID-19 pandemic,people began to pay close attention to medical devices regarding life information and supporting.In the past,the public always held stereotypes and prejudice over domestic medical devices,questioning their performance and safety.However,after years of learning and experience accumulation,the performance of most medical device products has become equivalent to that of imported products.It is undeniable that China’s medical device industry started late and developed slowly in the early stage.A few products,such as monitors,can be replaced by domestic products,but in terms of high-end products,we still rely on exporting on a large scale,and the localization rate of the industry needs to be improved.From 2011 to 2021,China’s foreign trade in medical devices has changed from deficit to surplus.According to the statistics of General Administration of Customs,in 2021,China’s foreign trade in medical devices reached $134.94 billion,with imports accounts for 40% and exports 60%.It can be predicted that the broad import substitution market will trigger a new round of fierce competition among domestic medical device companies.As a well-known medical company in China,Mindray continues to provide advanced medical solutions and equipment products.Rooted in China’s vast market,it has set up branches throughout China and other countries.Mindray started with inspection and monitoring equipment,and then expanded to the field of medical imaging.After arduous cutting-edge technological innovation,Mindray has developed more perfect product solutions.In 2020,because of the competitive advantages of emergency life information and support products and the rapid response to the epidemic,Mindray achieved revenue of 10.564 billion yuan,ranking first among domestic medical devices,and the only enterprise in China exceeding 10 billion yuan.As the bellwether of domestic medical devices,make more efforts need to be paid in marketing.Therefore,this paper analyzed the brand marketing strategy of domestic medical devices.This paper consists of seven parts.The first part focuses on the purposes and visions of Mindray medical marketing,analyzing the logics and methods of Mindray marketing strategies,so as to form the theoretical framework.The second part overviews the brand marketing theory and related literature,including 4P theories and SWOT analysis,etc.The third part depicts the marketing environment of Mindray medical brand from three aspects: overview,macro situations and competition environment.The fourth part analyzes the current situation of Mindray medical brand marketing through SWOT and 4P theory.The fifth part presents the problems existing in Mindray medical brand marketing through investigating its marketing strategy through interview application theory.The sixth part puts forward optimal suggestions based on the in-depth analysis of the current situation of Mindray medical brand marketing,including improving product pricing and improving brand image.The seventh presents the conclusion.This research intends to provide reference for the development of Mindray medical brand marketing,and can also show implications for the marketing strategies of other domestic medical device brands in the field,so as to achieve the long-term development of China’s medical device industry.