Research On Marketing Strategy Of Faway Stamping Parts Branch Company’s Auto Parts

Stamping Branch Company of Changchun Faway Automobile Components Co.,Ltd.(referred as “the Branch Company”),a subsidiary of China FAW Group Co.,Ltd.(referred as “FAW”),has been established for 29 years and has been focusing on automobile component manufacturing.The Branch Company is the major component supplier of FAW and its subsidiaries.However,due to the rapid development of China’s automobile industry,FAW has gradually opened its arms to new suppliers.Facing fast changing market environment,the Branch Company which has long lived under low market competition pressure has to formulate marketing strategies that better suit its development,so as to survive the fiercer competition,steadily increase market occupancy ratio and keep a firm foothold in the market.This article studies on marketing strategies of the Branch Company and finds that the company lacks customer relationship management,making it unable to explore other customers except FAW.Besides,the Branch Company doesn’t have a clear market segmentation or target markets,making its products hard to differentiate from others and thus lacking competitiveness.This article first analyzes the macroenvironment and finds that China’s automobile industry has a promising future with abundant room for enterprises’ growth.Then it analyzes the microenvironment including corporate structure,business development and corporate culture,and forecasts opportunities and challenges the Branch Company is going to encounter.Based on SWOT Analysis,this article makes a detailed analysis about the environment the Branch Company is facing in terms of strengths,weaknesses,opportunities and threats.Considering the overall development direction,this article finally chooses SO strategy.This article designs marketing strategies meeting the development demands of the Branch Company based on marketing theories and leveraging its advantages in customer relationship,human resources and geographical location.In accordance with STP Theory and based on the enterprise size and predicted revenues,the marketing strategies segment the welded stamping component market,identify target customers and make tailor-made and differentiated products meeting different demands of major customers.This measure can help the company to accurately identify the target markets,broaden brand awareness,enhance core competitiveness and gain favorable conditions for its development.Finally,based on relevant marketing management theories including 4P Theory and Service Marketing Theory,this article sets up a new marketing system which could help the company to achieve sustainable development in the fiercer competition in the future and offer reference for other automobile component companies.