Title: The 4Ps Marketing Strategy of Sichuan Jiudao Trading Company under the Influence of COVID-19
Author: Zhao Jingyu
Advisor: Dr. Zhang Li
Degree: International Business Management
Major: Master of Business Administration
Faculty: บัณฑิตวิทยาลัย (Graduate School)
Academic year: 2566 (2023)
Published: 2nd National and International Academic Conference on Innovation and Management for Sustainable 15-16 December 2020 (pp.196-203) Proceedings PDF
Abstract
China’s liquor industry, deeply rooted in cultural history, holds significant economic importance. The sector has evolved its marketing strategies, particularly with the rise of new retail and information technology. The prolonged impact of the COVID-19 pandemic in 2020 has reshaped consumer behavior, with a notable shift towards online liquor purchases. In response, liquor enterprises must swiftly adapt marketing strategies, integrating online and offline channels to effectively navigate pandemicrelated challenges.
Sichuan Jiudao Trading Company is a trading company under Luzhou Laojiao, which is mainly responsible for the marketing of Guojiao 1573, one of the three highend liquor brands in China. This study took the 4Ps marketing strategy of Sichuan Jiudao Trading Company as the research object, and under the guidance of modern marketing theory, discussed how Sichuan Jiudao Trading Company adjusted its 4Ps marketing strategy to cope with market changes under the influence of the epidemic. Three research objectives were proposed: 1) to analyze the current situation of the marketing strategy of Sichuan Jiudao Trading Company; 2) to provide suggestions to Sichuan Jiudao Trading Company based on the 4Ps theory.
The research method of this paper is the documentary research method to sort out the status quo and problems of the 4Ps marketing strategy of Sichuan Jiudao Trading Company, and put forward the corresponding improvement and safeguard measures. Through consumer research, internal and external environment analysis of Sichuan Jiudao Trading Company, and competitor analysis, while combining with STP theory to analyze the future marketing objectives and positioning of Sichuan Jiudao Trading Company, the current situation and problems of the marketing strategy of Sichuan Jiudao Trading Company were analyzed according to the 4Ps and the STP theory of Sichuan Jiudao Trading Company.
The findings of this paper are: 1) There are certain problems and challenges in the current marketing strategy. These include deficiencies in market positioning, promotional tools, and online and offline integration that need to be improved; 2) There are product aging and unreasonable pricing strategies in Sichuan Jiu Dao Trading
Company. The aging of products leads to a decline in market competitiveness, while an unreasonable pricing strategy affects the sales and channel reasonable profitability; the 4Ps analysis of Sichuan Jiudao Trading Company found that there are some deficiencies in the four aspects of product, price, channel and promotion, including insufficient product innovation, pricing strategy implementation problems, channel integration is not flexible enough, and promotional tools are not diversified enough. Improving and perfecting these factors will have a direct impact on the Company’s marketability and profitability and the Company’s competitive position and performance in the market.
Keywords: COVID-19 outbreak, liquor industry, 4Ps marketing strategy, STP Theory
The 4Ps Marketing Strategy of Sichuan Jiudao Trading Company under the Influence of COVID-19
6217195423 Zhao Jingyu 2566 (2023) The 4Ps Marketing Strategy of Sichuan Jiudao Trading Company under the Influence of COVID-19 สารนิพนธ์ (Independent Study), Advisor: Dr. Zhang Li, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, International Business Management, Bangkok: Siam University
Academic Year 2023, Graduate School 2023, IMBA, IMBA 2023, Independent Study, Independent Study 2023, Master of Business Administration, Master of Business Administration (International Program) 2023, Master of Business Administration 2023, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration,International Business Management