A STUDY ON THE DEVELOPMENT STRATEGY OF BABY PRODUCTS ENTERPRISE——TAKING NINGBO WELLDON COMPANY AS AN EXAMPLE
Received: 31.08.2021; Revised: 26.09.2021, Accepted: 08.11.2021, Published Online: 03.12.2021
Dr Abhijit Ghosh
Dean, Lincoln University College Malaysia
Jiang Chunhui
MBA Student, Lincoln University College Malaysia
Jin Lijuan
MBA Student, Lincoln University College Malaysia
Lin Jiang Juan
MBA Student, Lincoln University College Malaysia
Liu Jinhua
MBA Student, Lincoln University College Malaysia
Lu Xuancheng
MBA Student, Lincoln University College Malaysia
ABSTRACT
Chinese demand for infant and children’s items is rising at a rapid pace. Companies that make infant and children’s items face new possibilities as well as problems as the market grows. China’s baby and child products market has recently seen an increase in competition that is encouraging, and there has even been a phenomenon known as homogeneous competition in some product categories. As a result of marketing challenges such as hazy target audiences, ambiguous product features and the inability to build strong brand identities, Chinese infant goods producers would be badly disadvantaged in the global market. To find out if a distinctive competitive strategy can be implemented effectively in today’s market, this paper analyses the real successful examples of WELLDON Baby Goods Co., Ltd. products and management based on current market conditions and historical trends.
The following section examines the industry’s external environment and current state of affairs. To address politics, the economics, culture, and technology, this study applies the PEST model. The viability of selecting a competitive strategy has been thoroughly examined. As a result of this analysis, you may develop a distinct competitive strategy by considering factors such as rivals, similar goods, and the strength of the buyer. Using Michael Porter’s five forces model, you can do this. A detailed analysis of WELLDON’s internal environment, such as the company’s product features, market share, and competition, is presented in the fourth chapter. When it comes to company structure, human resources, and marketing levels, this document also introduces its own internal environment. The basic environmental condition has been thoroughly examined. WELLDON’s high-view infant safety product project assessment and analysis of the internal and external environment revealed the problems and dilemmas that WELLDON is presently facing. Businesses are thus working on developing a scientific competitive strategy that will allow them to differentiate their own goods from those of their competitors while also reducing the expenses associated with doing so. They go into detail about the strategic objective and purpose as well as formulation and competitive plan approach. WELLDON’s distinctive strategy is identified as a competitive strategy by combining the theoretical foundation and the actual conditions of the previous sections of the study, and a particular plan and path for this strategic combination have been developed. Strategic objectives for the WELLDON Company’s strategy are decomposed, the existing organizational structure is improved, the work of human resources is emphasized, a good corporate culture is established, and high-quality talents are actively introduced to establish good corporate culture primarily through guidance in implementation. To ensure a seamless implementation of the entire strategy, the scientific reward and punishment mechanism is in place. There are many small and medium-sized businesses looking for competitive strategies that are appropriate for their own development needs. This paper examines the successful cases of WELLDON’s high-view baby safety product project competition strategy and hopes to provide feasibility analysis, strategic design and strategy design for many similar companies. Comprehensive plans provide a variety of research methods to ensure that competitive strategies are implemented smoothly and effectively, but they also serve as positive examples for some Chinese small and medium-sized businesses that are actively engaged and innovative in order to achieve long-term sustainable development and rapid growth.
Keywords: Baby Safety; Safety Seat; Welldon Company; Development Strategy