A Study Of The Marketing Strategy Of Luoyang Peony's Welding Flux In The Vietnamese Market

The purpose of this thesis is to provide some key recommendations for the business development of the case Luoyang Peony‘s welding flux in the Vietnamese market.These suggestions would be based on the analysis of Vietnamese welding material market and welding industry in Vietnam along with the study of Luoyang Peony‘s marketing strategy.The target area is welding product,specially welding flux – a new technological product in the welding industry while the case company is Luoyang Peony welding materials group.,Ltd which is located in Luoyang City,Henan,China.The theoretical background was comprised of main elements of marketing management.With regard to marketing strategy,the thesis mainly covered the knowledge of marketing mix four Ps(product,price,place,promotion)and together with segmentation,targeting and positioning strategy.Meanwhile,PEST defined as Political,Economic,Social and Technological factors were utilized to give the audiences a thorough analysis of the local market environment and welding industry in Vietnam.Background information and practical data for the market analysis and marketing strategy were gathered from both primary and secondary data.Those can be found not only from official websites,online articles and reliable books,but also through the interviews with the company‘s seniors and the author‘s observations during time have had great cooperation with the company as a working as a purchasing manager for the Vietnamese Domestic Company.The empirical part,first of all,the introduction overview of Luoyang Peony operation capacity followed by its business development strategy and its business situation analysis.In the second part,the existing marketing strategy of the case welding flux product aimed in Vietnamese market was researched and analyzed in details.Were the existing marketing strategy of Luoyang Peony and its capacities adequate to exploit the potentials of welding industry in the Vietnam.Thanks to above in-depth study and critical analysis,the author produced several recommendations for the company to make use of its resources and create efficient strategies high profitable in the Vietnamese market.