HX Company Marketing Strategy Research

In recent years, Chinese condiment industry has been growing rapidly at an annual rate of over 20%. The industry is now entering a period of great differentiation, transformation and adjustment, and the financial crisis has further accelerated the adjustment of industrial structure and improvement of brand concentration. Establ ished in 1996, HX is a modern private science and technology company specializing in the production of breadcrumbs, salad dressing, cherries, red kidney beans, chick peas, jam, peanut butter, evaporated milk, ketchup, flavoring powder and various kinds of sauces. Ever since its establishment, the company has been continuously developing new products and categories, and achieved good economic and social benefits. Meanwhile, the company is facing a lot of market challenges, and is in the process of starting a new undertaking. How to effectively seize current opportunities and establish competitive advantages in the next few years has become an important topic for HX.By combining Western strategic management theories and the reality of the condiment industry, and based on HX’s strategic guiding ideology and mission, this article has collected and organized a large amount of data and written materials by means of in-depth research, online search, etc. Based on these preliminary works, this article applies strategic management theories to systematically analyze and discuss HX’s development strategy. Firstly, it reviews domestic and international strategic management theories, corporate competition strategy theories, and the process of study on development strategy, so that such theoretical review can guide subsequent study; secondly, it uses the PEST and Michael Porter’s Five Forces Model to analyze the external environment to which HX is exposed, discusses HX’s internal environment from the perspectives of internal conditions and capabilities, and points out the problems in the development of the company. Thirdly, based on the strategic positioning of the company and by use of the SWOT method, this article proposes that HX should adopt a low-cost strategy and differentiation strategy as the competitive strategy for the company. Finally, the article suggests that in order to ensure the implementation of its competitive strategy, the company should strengthen brand building, improve human resource management, optimize its organizational structure, enhance corporate culture, and design and develop an executable strategic evaluation and control process to ensure successful implementation and execution of the competitive strategy.