POP MART Marketing Strategy and Innovation Path

Abstract

Since its creation 12 years ago, Pop Mart has succeeded in transforming from a simple and small toy collection shop to a famous IP brand that primarily develops its pop toy products. This study contributes to the present literature from two aspects. First, this study uses 4Ps model to analyze the marketing strategy of Pop Mart. Second, Pop Mart's segmentation, targeting and positioning analysis to propose ideas and suggestions for its future development strategies in accordance with the circumstances of the moment and the prevailing economic climate. Through detailed analysis, the paper attributes Pop Mart’s success to its scarce marketing strategy on the product, channel and user sides. The paper also identifies existing problems beneath the current marketing strategy, including market backlash, the risk of an uncontrolled “yellow cattle” economy, and the dilution effect of industry homogenization. To resolve these issues, the paper puts forward constructive suggestions, such as managing scalpers, adopting a more diverse scarcity model to invoke differentiated satisfaction in customers, and transitioning from limited editions to backstories as the core of its IP content.