Study on Precision Marketing Strategy of Foreign Trade Corporation

Kunyang Li; Jiahan Meng; Yuxiang Wang; Guanyi Xu

doi:10.2991/assehr.k.211209.331

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Study on Precision Marketing Strategy of Foreign Trade Corporation

Authors

Kunyang Li¹^{, †}, Jiahan Meng²^{, †}, Yuxiang Wang³^{, †}, Guanyi Xu⁴^{, *}^{, †}

¹Lebow College of Business, Drexel University, Philadelphia, United States of America

²College of Arts and Sciences, Indiana University Bloomington, Bloomington, United States of America

³Qingdao, Shandong No. Sixty-eight Middle School, Qingdao, China

⁴Faculty of Business, University of New Brunswick, Saint John, Canada

^†

These authors contributed equally.

^*Corresponding author. Email: gxu@unb.ca

Corresponding Author

Guanyi Xu

Available Online 15 December 2021.

DOI: 10.2991/assehr.k.211209.331 How to use a DOI?
Keywords: Foreign trade corporation; garment industry; precision marketing; customization; the gross amount
Abstract: China’s garment enterprises have continued to grow in the past fifteen years and contributed significantly to the economy. However, with the development of the garment industry, many problems appeared. First, although the minimum wage has increased in recent years, it is more difficult for garment corporations to recruit new employees. Moreover, it costs more to deliver products from China to Europe than from Africa to Europe. Africa has become more competitive than China because of low labour costs and shipping costs. The problems that the garment industry faces and the solutions to these problems will be discussed in this paper. We used the literature research method, case study and comparative analysis method to research and analyse in this paper. This paper takes a typical foreign trade garment corporation as an example to analyse the current situation of China’s garment industry. To find out the key influencers of the gross amount, a multiple regression model is employed. Generally, quantity is the key influencer of the gross amount in the past five years. Delivery time affects the gross amount in the year 2019. The variety of fabrics and suppliers are diminishing as time goes by. More and more young people are reluctant to work in the factory. A great number of garment suppliers closed because they could not bear the higher and higher costs. Many existed Chinese suppliers are struggling in the garment industry. Meanwhile, many garment suppliers in Africa have become more competitive in labour and freight costs and haulage time. In the discussion part, we put forward three strategies - precise customization, break up the whole into parts & hire temporary workers, and modern logistics concept & reasonable transportation choice. This paper aims to analyse the dilemma that the garment industry in China is in. More importantly, explore the gateway for the struggling foreign trade companies.
Open Access: This is an open access article under the CC BY-NC license.

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Volume Title: Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series: Advances in Economics, Business and Management Research
Publication Date: 15 December 2021
ISBN: 10.2991/assehr.k.211209.331
ISSN: 2352-5428
DOI: 10.2991/assehr.k.211209.331 How to use a DOI?
Open Access: This is an open access article under the CC BY-NC license.

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ris enw bib

TY  - CONF
AU  - Kunyang Li
AU  - Jiahan Meng
AU  - Yuxiang Wang
AU  - Guanyi Xu
PY  - 2021
DA  - 2021/12/15
TI  - Study on Precision Marketing Strategy of Foreign Trade Corporation
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 2026
EP  - 2032
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.331
DO  - 10.2991/assehr.k.211209.331
ID  - Li2021
ER  -

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