Analysis of the Marketing Strategy of Alipay Payment Method under the Internet Economy

Abstract

With the rapid development of mobile payment, third-party payment platforms as well as payment services continue to innovate. The emerging payment methods have not only changed consumers' daily life, but also cultivated their consumption habits. More and more domestic and foreign companies are joining the market competition. Facing the complex market environment, how to seize the market becomes the goal of all companies. The Alipay platform stands out among many third-party payment platforms and has become the largest mobile vendor in the world. The research theme of this paper is to study the marketing strategy of Alipay, and to analyze the existing marketing problems of Alipay and to suggest solutions. This paper is based on the theories of mobile payment, marketing strategy, and user stickiness, and the current situation of Alipay to analyze the marketing strategy. Through extensive literature reading and data compilation, Alipay's marketing strategy is divided into six aspects: living payment ecosystem, fun marketing, cash withdrawal exemption, unique business, monopoly exclusivity, and transaction security. Finally, based on the above analysis, this paper makes three suggestions on how to improve Alipay's marketing strategy: strengthen the publicity work to make more consumers use Alipay with peace of mind; carry out market segmentation and provide personalized service to customers; improve product competitiveness and create brand effect.