Research On Development Strategy Of M Garment Trading Company

With the Economic Reform and Opening-up in China,the garment processing trade presents a tendency of fast growth.Relying on the advantage of China’s low labor costs and abundant resources,the garment OEM export industry has developed tremendously.However,With the global economic slowdown,political turmoil and heavy losses to international trade.Which rely on the development model of OEM production have declined.Production factor cost of domestic labor,land,resources continued to rise.As a traditional industry,the clothing trade industry is facing an increasingly fierce competitive environment,which urgently needs to formulate a new development strategy.So it’s necessary to study the development strategy of clothing trade enterprises.Based on the theory of enterprise development strategy,the analysis found that the development strategy of M Garment Trading Company was formulated too early to identify the company’s position,with a lack of long-term goals,and did not consider the huge fluctuations of international trade,which led to the necessity of reconstructing the development strategy of M Garment Trading Company.Starting from the analysis of the internal and external environment of M Garment Trading Company,this paper applied the SWOT analysis method to analyze the strengths,weaknesses,opportunities,and threats of the company.Overall,the strengths faced by the company are financial dividend,location,stable customers,have basic production machines.The weaknesses are the poor product competitiveness,single marketing channel,management problems and monotonous production mode.The opportunities are the promising domestic market,development of e-commerce and the company’s own brand.The threats are the challenges of policy changes,competition,and risk prevention.It is proposed that M Garment Trading Company should choose SO strategy,i.e.,through the accumulation of trade and domestic sales in the early stage,to create own brand and exploit the domestic market.At the same time,cooperating with ST strategy to diversify,consolidate the export market accumulation,grasp the opportunities,and achieve a breakthrough.Finally,combined with the current situation and problems of M Garment Trading Company,the development path for the future development of the company was formulated by ensuring stable business to provide a continuous source of capital while increasing market development to achieve a breakthrough,and striving to achieve the vision of being a well-known garment enterprise.To plan the short-term and long-term goals,by formulate business strategies in terms of products,customers,regions,and industries.Expand product differentiation from ensure product quality and multiple customer sources.Focus on the company’s brand,with completing human resources,finance,and technology.Extend marketing channels,meantime,employ talent staff,establish effective evaluation mechanism,and strengthen technological innovation.Finally,to ensure that the development strategy can be implemented sufficiently,safeguards are formulated from five aspects: organization,talent,system,informatization.