Multi-brand Marketing Strategy And Its Effect In The Overseas Expansion Of Midea Group

With the acceleration of the process of economic globalization,in order to improve international competitiveness and seek long-term development,enterprises have developed overseas expansion strategies suitable for their own development.Multi-brand marketing strategy is the common strategy that multinational companies open up new markets and occupy higher market share.Brands play an increasingly important role in corporate marketing and competitiveness.Enhancing brand value and increasing brand building have become an important task for many companies.The competition among enterprises has gradually turned to brand competition.Based on the relationship between multi-brand marketing strategy and market segmentation and brand extension,the paper summarizes the implementation and advantages and disadvantages of multi-brand marketing strategy.Then the paper takes the multi-brand marketing strategy practice of Midea Group's overseas expansion as the research object,summarizes the advantages and disadvantages of multi-brand marketing strategy,establish multi-brand marketing strategy effect evaluation indicators and select the analysis method of comprehensive evaluation by comparison.From the aspects of operation,management and finance,this paper expounds the mechanism of implementing the strategic effect of multi brand marketing in Midea Group's overseas expansion.Based on the development of Midea Group's the implementation process of multi-brand marketing strategy and the reasons for its implementation from 2007 to 2018,the financial indicators indicating the multi-brand marketing strategy effect were selected,and the multi-brand marketing strategic effect specific indicators was established through the correlation analysis between financial indicators.Based on the specific financial indicator data,the paper analyzes the changes number of brands to the Group's operational,management and financial impact.The results show that Midea Group's total asset growth rate and operating income growth rate have changed by a large margin.The total asset growth rate has experienced negative growth in 2012.The operating income growth rate has experienced negative growth in both 2012 and 2015,so enterprises need reasonable control cost and avoid international risks.And the performance in asset management is not ideal,but management and financial expenses are better controlled.Short-term solvency and long-term debt ability become stronger.From the effect analysis,according to the effect evaluation index system,the entropy method is used to obtain the scores of management,management,finance and comprehensive effects.The results show when a new brand is added to the Midea Group,the corporate comprehensive effect score will increase from the previous year.However,changes in national policies,the development characteristics of the home appliance industry,the negative impact of the global political economy and the cooling of the Chinese economy have had a major negative impact on the Group's operating,management,financial,and comprehensive effects.From the results of multiple regression analysis,from 2007 to 2018,the increasing number of brands of Midea Group year by year has a positive impact on the scores of operation,management,finance and comprehensive effects.The proportion of overseas operating revenue in operating revenue is significantly positively correlated with the scores of management and comprehensive effects.The growth rate of operating profit is significantly positively correlated with the scores of operation and comprehensive effects.While the free cash flow of Midea Group is positively correlated with the scores of management and comprehensive effects.There is a significant negative correlation between the score of comprehensive effect and the proportion of the largest shareholder and the financial and comprehensive effect.Finally,on the basis of comprehensive theory,current situation and empirical research,aiming at the problems existing in the multi-brand marketing strategy of Midea Group's overseas expansion,the paper provides suggestions for the choice of marketing strategies for Chinese enterprises: assessing its own development capabilities and formulating brand strategy development plans,defining target brands and entering the target brand market,promoting brands extension strategy and developing diversified products,integration of brand resources and avoiding the potential risks of the market.