Research On Marketing Strategy Of Smart Home Products In YS Company

Smart home devices entered China around 2000.Benefiting from scientific and technological improvement as well as economic development,people’s cognition and willingness to use smart home devices have been greatly enhanced after about 20 years of market cultivation.With the improvement of 5G,artificial intelligence and the Internet of Things technology,the smart home industry is attracting more and more enterprises to the field to compete fiercely.YS company is the research object of the thesis.On the basis of factual marketing situation of the company,the thesis utilizes theoretical knowledge of marketing management to study and analyze its market strategy in depth,in order to provide effective and feasible suggestions to YS company,and also provide reference and help to the peer enterprises.YS is a R&D and manufacturing company specializing in security and protection systems before entering smart home industry.Different from its strong competitors such as telecom suppliers(China Telecom,China Mobile),famous Internet companies(Alibaba,Baidu)and traditional home appliance manufacturers(Haier,Media),both its advantages and disadvantages are obvious.After studying the external marketing such as economic and political environment along with competition situation of YS company through the theory of PEST and Five-Force Model,the thesis borrows STP theory to do marketing segmentation and positioning,as well as analyze company’s current marketing behavior including products,sales prices,communication and channels for the sake of discovering insufficiencies of its marketing strategy and advancing proposals to improve.Based on above analysis,YS company need to attach more importance on the huge-populated elderly market,supply a product portfolio suitable for the elderly and make greater efforts on advertising to arouse market demand;strengthen the cooperation with peer companies to achieve mutual control and connection of different systems,breaking down the barriers among them and lowering the threshold for consumers to buy;re-conduct market research on several product lines with low sales and slow development to discover real market requirement and make adjustments;increase the quantity of retail shops in more domestic cities and strengthen management to establish a unified brand image;increase advertising budge,integrate various promotion and communication methods with the aim at enhancing market competitiveness and brand awareness.