Xiaomi Market Strategy

Published: 2021-06-29 06:59:25
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Category: Business

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Assignment 2        Introduction        Situation analysis        SWOT analysis        Strengths:        Weaknesses:        Opportunities:        Threats:        PESTLE analysis        Economic situation        Social situation        Technology situation        Target market of Red Mi Note        Red Mi Note’s brand position        Marketing strategy        Product strategy        Price strategy        Place strategy        Advertising and Promotion strategy        Service strategy        Brand strategy        Conclusion        Assignment 2IntroductionXiaomi is a multinational corporation based in Beijing, China. It was founded by Lei Jun in 6th April 2010 and now Xiaomi has become the third largest smartphone producer in the world with over 5000 employees worldwide. The main target selling area for Xiaomi is in Asia such as China, Malaysia, Singapore and Philippines. Xiaomi is popular because of the reliable product, friendly user experiences and affordable price. (Hakuhodo, 2013)In 2014, Xiaomi has sold more than 61.12 million smartphone all over the world and China is the biggest market that contributes more than 18 million hand phone sales. Compare with the selling data in 2013 it has increase 227% and because of the good selling Xiaomi had about US$ 12 billion revenue in 2014. The forecast selling in 2015 is about 80 million to 100 million and in the first half year of 2015 Xiaomi has sold 34.7 million smartphone. (Mims, C. 2015)The marketing strategy in Xiaomi is different from other telephone brands. They focus on their selling through Internet that it is higher margin and maintain close relationship with customers. (Kapp, M. 2009) Red MI is one of the smartphone brand manufactured by Xiaomi, which is through use less-expensive components and more customer-oriented. It is designed for young adults and working adults that really care about the configurations of smartphone and big screen but don’t have enough money to spend.Situation analysisWith the rapid development of economy and technology, our life have changed a lot because of the convenience of Internet it is almost every people in China start to use smartphone. The population of 1.3 billion in China makes a great demand of smartphone, so it is a good chance for smartphone companies to catch up this opportunity. As a result, all mobile phone companies in the world attach great importance to the Chinese market. However, it is also a reality problem that China is still a developing country and a huge number of customers are not rich enough to buy an expensive smartphone like apple and Samsung. For many customers they don’t want to spend too much money on their smartphone especially some young working people and poor people without job. But the main smartphone brands in the world such as apple, Samsung, SONY and HTC are all focus on the high-end product and the competition between smartphone companies is also very fierce. Therefore, mid-and-low range smartphone is an attractive market in China and Xiaomi is a company that focuses on this kind of products.

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