Research On Marketing Strategy Of M Department Store

Since the internet age started,e-commerce has been aggressively growing and establishing its market presence,draining sales from physical stores.Effected by the declining domestic consumptions,in-store retails have been suffering reduced sales and customers loss.Under the current challenging situation,it is crucial for physical businesses to closely observe market trends and create effective marketing strategies.M department store is a mid-high tier store affiliated with Group D,located at the business center in Qingniwaqiao,Zhongshan District,Dalian.The location is the landmark for fashion,shopping,and leisure.However,M department store has suffered reduced sales and loss of customers in recent years.By analyzing the internal and external marketing environment and implementing theories for marketing,internet,and e-commerce,this dissertation aims to create a marketing strategy to increase sales.The ultimate goal is to rescue M department store from the current difficult situation and regain market competitivity.First,this dissertation analyzes political,economical,social,technological aspects of the current marketing situation.Second,the dissertation takes a closer look at M department store’s business volume and customer resource,and therefore figures out why M department store suffers from its failing sales.After that,to facilitate M to regain its dominating role in the local market,this dissertation explores methods regarding to market segmentation,market targeting,and market positioning.In doing so,this dissertation reflects on the 4P marketing theory,and reconstructs M department store’s marketing strategy,including new selection of suppliers and brands,improved retail price,expanded places,redesigned promotions.In addition,in order to achieve optimistic result,the dissertation also surveys a variety of other supporting measures.For example,discovering potentially qualified employees,and upgrading the virtual shopping system.Through combining the theory models with the M department store marketing reality,this dissertation formulates marketing strategy,and hopefully provides helpful insights on how to improve M department store and other similar companies’ marketing competitiveness in the age of internet retailing.