Research On Marketing Strategy Of YT Foreign Trading Company In Latin America Market

The outbreak of the COVID-19 in 2020 has brought changes to the global economy.International transportation costs,customs clearance costs,raw materials and labor costs have risen sharply,the consumption capacity of global buyers has declined.The traditional foreign trade enterprises have suffered heavy losses.YT is a small and medium-sized foreign trade enterprise,mainly engaged in the export business to the Latin American market with Cuba as its main market.With the implementation of Cuba’s "new normal"economic policy,many Cuban private enterprises have obtained import qualifications.Affected by changes in global consumption habits,they gradually import and purchase through new channels such as online platforms,the e-commerce industry in the entire Latin American market has a strong development momentum,which has a great impact on YT Company’s offline direct sales marketing mode of traditional export trade with Cuban state-owned import and export companies as its target customers.This paper analyzes the marketing situation and problems of YT Company firstly,and finds that its marketing problems are mainly manifested as too many types of operating products but lack of brand effect,low price competition,highly concentrated market but single marketing channel,and few promotion methods.Then,PEST analysis and Porter’s five forces model were used to analyze the macro marketing environment and industry environment,and the company’s resource and capability advantages were analyzed.It was concluded that YT company has a good market foundation,reliable supplier reserves,financing channels and excellent teams,can seize the opportunities of Cuba’s economic reform and the "the Belt and Road" policy,and make up for its channel weaknesses by improving the company’s marketing strategy,e-commerce,consignment and overseas warehouse,Expand the company’s export market in Latin America and make the company develop rapidly.According to the STP target market theory,YT Foreign Trade Company adopts a centralized marketing strategy,focusing on the organizational customer markets in Cuba,Mexico and Chile,and creating a market positioning of "affordable,high-quality and convenient".Design marketing plan through 4Ps marketing mix theory,select three kinds of products including food,hardware and building materials and auto parts,set up product mix and strengthen brand building;Adopt the value pricing method to make consumers "buy reasonably,buy at ease,and buy easily";Meanwhile,new e-commerce platforms and overseas warehouses are added to achieve online and offline integrated precision marketing and improve marketing channels;Finally,the company comprehensively uses personnel sales,sales promotion,advertising,direct reply and digital marketing to establish long-term and effective brand preferences in the organization of customers and consumer markets.In addition,YT Foreign Trade Company ensures the implementation of its marketing strategy by strengthening organizational construction,human resources,information management and risk control.This paper takes YT Foreign Trade Company as the research object,through the combination of theory and practice,analyzes and summarizes the current problems faced by the company and the industry,and proposes solutions.The research in this paper hopes to provide theoretical basis for YT Foreign Trade Company to reverse the current marketing situation,and provide reference for the transformation and development of small and medium-sized traditional foreign trade enterprises in the same industry.