Research On Marketing Strategy For WuyaoTingche Company

Although the improvements in standard of living in China were demonstrated by many perspectives since beginning of 21 st century,there are many challenges brought by economic growth and development.One of the biggest challenges is the parking problem in urban area caused by rising car ownership rate.Fortunately,Parking problem can be solved creatively by taking advantage of mature Internet Technologies infrastructure in China.After more than a decade of rapid development of Internet technology,Parking management is an entry-oriented market that focuses on people's livelihood with greatest investment potential.The main idea of parking management with internet technology is to use the "Internet plus" model to re-examine the parking market and develop the "Internet plus" smart parking mode.The internet plus mode will change the parking behaviors of car owners,simplify the parking process and allocate parking resources in an efficient and reasonable way.51 Parking Technology(Suzhou)Co.,Ltd.(51 Parking)is an innovative startup company specializing in Internet parking industry.The company is very competitive by holding number of patents.51 Parking also has certain advantages in human resources and innovative technologies sectors.However,the current marketing strategy is imperfect and need to be improved if the company is eager to increase its market share.This paper examines the current marketing status of the company and found that the main problems of the company's marketing strategy are: Product line is not diversified yet.The products are OEM customized,the cost is high,the bargaining power is poor;the development of distribution channels is not ideal;the brand promotion is not enough and not established.Lack of in-depth discussion and research and corresponding strategies of countermeasures.This research analysis both macro environment and micro environment faced by the company.From macro perspective,with the political and legal support,“Internet plus” mode is still in its fast lane and mobile payment will keep leading the transformation of Chinese payment habit from cash to mobile.From micro perspective,there are several points that will demonstrate the potential growth of the company,the backwardness of informationization in the parking market,the urgent need for intelligent parking,the analysis of the advantages and disadvantages of current marketing strategies of competitive enterprises and the construction of internal processes and incentive systems.This research also conducted SWOT analysis to found the internal advantages and external opportunities that are suitable for future business expansion.The company is more suitable to choose SO strategy,which is to use the internal technological advantages and regional brand advantages to seize the opportunities of external O2 O development opportunities and enhance marketing strategies to promote brand more effectively.Finally,the company should diversified its product line to attract more potential consumers and gain more market share.After conducting the analysis of the value chain of the parking industry and clarifying the whole picture of the strategy,this research reach the conclusion that the parking lot operation market and the automotive after-service market are the company's target market.Then the company should develop a marketing mix strategy based on 4P theory.First of all,the company should distinguish product classes by hardware and accelerate the process of product launch.For middle-end products,the company should price them using competitive-oriented pricing method,which means pricing products according to market pricing mechanism.Meanwhile,the company will obtain the competitive advantage by taking product differentiation strategy.For high-end products,the company can adopt high-price strategy and launch high-end products to specific markets and users in order to obtain a reasonable high profit margin.For low-end products,the company should adopt multiple pricing methods,for instance,the products can be complimentary and the company can obtain revenue and profits through later recovery of parking fees and advertising revenues.The company can also develop agents for middle-end and low-end products.The Similarly,the company can also develop dealers to distribute high-end products;The company can also build services network to improve the company's service level and promote the company through traditional media or online media,expanding the company's popularity and brand.Finally,in order to ensure the implementation of the marketing strategy proposed in this paper,safeguard measures is provided from several perspectives: the internal system construction of the company,the cultivation of professional marketing talents and technical and material resources.