Methodology For Precision Marketing In Retail Industry
In recent years, China has officially entered the big data era with the development of science and technology and the increase of digital application. Under this background, the marketing mode in all industries has changed a lot. Retail industry is one of the fastest growing industrial sectors. Faced with the digital marketing model, traditional retail industry has encountered unprecedented impact. The competitive advantage of traditional marketing ideas has gradually disappeared. If we do not change the marketing ideas and still adopt traditional marketing strategies, then the local retail industry will not be able to stand firm in the fierce market competition. Therefore, it is necessary to study the precise marketing of retail business in order to build the core competitiveness.
From three aspects of individual, organization and customer, Binbin Zheng chooses the influencial factors around the new characteristics of management in the era of retail digitalization, and constructs a theoretical model of “influencing factors - store creativity - store performance”. Geng Feng and other business representatives believe that new technologies such as big data and AI are of great significance in driving digital innovation in enterprises. Zheng Zhao concludes that the digitalization of retail elements and the intellectualization of retail business operation are crucial to the improvement of enterprise performance by studying the impact of Suning’s smart retail strategy on its sales performance. ZijianZ hang, Chuanli Xue believe that the whole channel supply chain is the perfect integration of the whole channel and the supply chain, which can fundamentally improve the core competitiveness of retail enterprises, and has strong adaptability in reducing operating costs, strengthening service level and improving customer satisfaction. Fabin Zhao believes that with the development of broadband, wireless and mobile Internet, the number of people shopping through mobile intelligent terminals is exploding. In view of the new consumer experience and demand, retail enterprises must make a digital transformation to better serve consumers, otherwise they can only be eliminated in the increasingly competitive market.
In the context of digital marketing mode, the traditional retail industry encounters unprecedented impact and competitive edges of traditional marketing are disappearing. This paper comprehensively explores and analyzes retail precision marketing strategies based on the digital marketing model. Firstly, the predicament faced by the traditional retail industry from the aspects of commodity and consumer, sales technology and sales thinking is analyzed. Secondly, the strategic implementation of precision marketing in retail industry is presented. Finally, cases of precision marketing applications in reality are studied to analyze the digital marketing mode in three aspects: customer segmentation in marketing market, positioning of shopping basket and targeted customer marketing. It is demonstrated that using big data, changing the traditional marketing mode, implementing precise marketing strategy, accurately gathering Limited marketing resources to valuable customers, and establishing a new marketing mode are of great significance for long-term sustainable development in the era of new retail.
To sum up, a new marketing trend is emerging in the retail industry with the integrated development of big data technology and the gradual establishment of the digital society. If retail enterprises do not want to be “abandoned” by the market, retail enterprises must break through the shackles of traditional marketing concepts and actively implement the precision marketing to effectively improve their core competitiveness. The long-term sustainable development among retailers, suppliers and customers can be realized by using data technologies, changing traditional marketing modes, accurately gathering precision marketing resources to valuable customers and establishing a new marketing model.
Journal of Accounting & Marketing