Research On Differentiation Competition Strategy Of HY Company

Hy Pharmaceutical was established in 2009 in Zibo,Shandong Province,for which the main business covers medical protection,rehabilitation nursing,health care and physiotherapy,medical supplies.The main products include disposable gloves,wheelchairs,cold and hot compress,electrodes and others.Nowadays,along with the aggravation of industry competition and the deepening of medical reform in China,the medical product market competition pressure of Hy Company increases and the business growth is weak.It is urgent to help the Company improve the competitiveness of medical products by formulating a scientific competition strategy,which could achieve the rapid business growth of the company.The HY Company’s choices involved the differentiated competitive strategies were studied deeply by literature research,survey research,qualitative and quantitative analysis in this article.First of all,the comprehensive study of background,significance,methods and content,and the competitive domestic and foreign strategy research literature were studied deeply to prepare for the study of the article.Secondly,the theory of competitive strategies were deeply analyzed in the article,which clarified the connotation and development of competitive strategies as well as the basic types of competitive strategies.Moreover,the PEST analysis,SWOT analysis and other related theoretical tools were studied for the further application in the article,which laid the theoretical foundation for the thesis research.Afterwards,the general situations of Hy Company were collected,then the social environment of HY Company was analyzed by PEST analysis,and then the industry environment of HY Company was analyzed by Porter’s Five Forces Model.Meanwhile,the internal resources of the company from the basic activities and support activities were analyzed by the value chain model,which could analyze the internal and external factors.Finally,SWOT analysis on HY company was conducted on the basis of clear development visions and goals of Hy Company,which figured out the main advantages and disadvantages,the opportunities and threats faced of the company.Therefore,a differentiated competitive strategy was settled by Hy Company based on the QSPM matrix.Finally,the strategy implementation recommendations of product differentiation,technology differentiation,service differentiation and marketing differentiation was purposed,as well as the establishment of strategic management concept,which intended to strengthen the medical reform policy judgment,improve the operating management level and strengthen the human resources management measures of the company.Combined with this study,it could not only make the competitive strategy researches and provide empirical analysis reference for the medical device enterprises,but also provide the scientific assistance for the strategic development of HY company.Furthermore,it can also be a reference for the development of similar medical device industry enterprises,with the strong theoretical and practical significance.