Research on Pop Mart's Marketing Strategy and Future Development

Abstract

The market size for pop toys retailing globally has a bright future, driven by the rise in disposable income, the rapid expansion of the pop culture business, and particularly the successful incubation of more high-quality IPs in the market. A lot of related industries and enterprises have transformed to the pop toy industry. However, since a unified industry standard and management norm has not yet been formed, the level of industry development is uneven. In this article, we conduct a case study on pop toy industry at Pop Mart, a key pioneer and promoter of pop toy industry in China. 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, based on the 4P marketing theory, we analyze the marketing strategy of Pop Mart and explore its success, to make recommendations for the growth of China's pop toy culture game industry. Second, Pop Mart's internal strengths and internal weaknesses, external opportunities and external threats are examined using the SWOT model analysis to propose ideas and suggestions for its future development strategies in accordance with the circumstances of the moment and the prevailing economic climate.