Adoption of this strategy requires Xiaomi to lower the prices and use different marketing and promotional strategies to push the sales in the existing customer market. Promotion in the Marketing Mix of Xiaomi : Xiaomi is an active use of the social media among other marketing channels to not only broadcast their messages and agenda but also to actively get and remain in touch with their customers as well as potential customers. Your email address will not be published. Xiaomi marketing strategy has been traditionally minimalistic due to the cost leadership business strategy pursued by the company. Xiaomi – A brand popularly know as ” Apple of China” which entered the Indian market on July 15 2014 with an exclusive sales tie-up with Flipkart for smartphone Mi 3, became the largest selling smartphone brand in India, in 2018, with a 27.3 percent market share, shipping 11.7 million units for the third quarter of this year. Marketing mix strategy is being used to understand on thedesign marketing of Xiaomi. Xiaomi also shuns traditional models of advertising and depends solely on Social Media marketing and word-of-mouth. Marketing Strategies Of Xiaomi 1. âALWAYS BELIEVE THAT SOMETHING WONDERFUL IS ABOUT TO HAPPEN â) <>
Over the past few years, Donovan has led not only product development, but also helped build the global team at Xiaomi responsible for launching in dozens of new markets around the world and turning Xiaomi into a truly global brand. stream
All these years, Chinese products were seen as cheap quality products until Xiaomi entered the market and changed the game. inventory for Xiaomi, and this will definitely save cost for Xiaomi. Most people thought the success of Xiaomi was its marketing strategies. Xiaomi signed an exclusive partnership with India’s biggest e-commerce player “Flipkart”. Are a few factors that Xiaomi take into account while entering a market. Customers needed to register for the sale and Xiaomi only made available a limited stock of devices that were sold out in a few seconds. Marketing strategy Of Xiaomi Inc. 1. All this success was not a just a smooth sailing for the brand, the brand had its own share of bumps in its journey. They target the fast growing but nascent middle class in emerging economies. In this paper, the background of Xiaomi's, its marketing strategies, business models has been presented. Xiaomiâs founder and CEO, Lei Jun, said the companyâs ultimate goal was âmaking good but cheap things,â a low pricing strategy that had succeeded in China. <>/Font<>/Pattern<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 960 540] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
The huge buzz generated on social media through the various campaigns has helped the brand build its image to a greater level in Indian market. In almost four years, the company has become the number one brand in the overall Indian smartphone market, leaving behind players like Apple and Samsung. As a venture company, Xiaomi needs to find the balance between alleviating the pressure of Xiaomi fans and output of factories with no With only 1/3rd of smartphone sales in the country happening online, Xiaomi needed to crack the offline market for a sustainable market share. Xiaomi was founded in 2010 by Lei Jun. As well as recognising the needs of the market and designing low-cost smartphones to meet them, Xiaomi has utilised a remarkably simple, yet highly clever, marketing strategy. Threats. When Lei Jun founded Xiaomi in 2009, the first product was MIUI operating system. �}�=4�����I"*���:ﲲ��.+���:�ۊ��A��8@�X&4MˈsM��� �Bֈ��r#�wYe�Ϡ���#e���%A�B��@�1��Z>����Zss��4k���N7�g�_[���=I��1KT%�>�3��ѳח��;��p-�Y�� Selling phones online helped the company reach out to wider audience base and also keep the cost in control which is what they were famous for. Your email address will not be published. Xiaomi makes and invests in smartphones, mobile apps, laptops, and related consumer electronics. Xiaomi strategy of selling their phone only through e-commerce website forced their Competitors to sell their phones from e-commerce websites. INTERNATIONAL MARKETING STRATEGY FOR XIAOMI 5 has more middle-class consumers than ever before, giving Xiaomi an opportunity to promote its products as a lower-cost alternative to devices manufactured by Apple and Samsung. Accordingly, the mobile internet company only engaged in social media marketing, saving on advertising costs and passing this cost advantage to customers in the forms of products with low price tags. Opening offline stores were one of the major decisions in the marketing strategy of Xiaomi. Xiaomiâs revenue stream comes from its software â the highly-customizable MIUI firmware that is based on Android which already has more than 30 million users, earning approx $4.9 million monthly revenue (via) from apps, games, and theme customizations installed on MIUI. What is the marketing strategy of Xiaomi? 1 0 obj
Marketing Proposal and Strategy for New Xiaomi Product âMiSpectaclesâ Co-authored by Kyaw Soe Hein 12 Feb 2015 . However, Xiaomi has been accused of imitating Appleâs marketing strategies, and currently operates a business model that is similar to that of Amazon. Xiaomi is a ⦠4 0 obj
The company sold over 70 million mobile phones in 2015âwhile aggressively building out a robust ecosystem. �+�\�'vJק�ҽ>�L�w'�����E'�y�@I����@o''l;�o�zu����!�����9�I�UE E�f�9p|���J�@P�� The company should also set a secondary target of spending £100,000 on marketing within the next six months. We don't invest in traditional marketing. Required fields are marked *. So as the financial situation of the middle class grows, they aspire to live a better life resulting in buying products which are next to top brands. First, Xiaomi would need to ensure their manufacturing processes are as green as possible â by reducing and managing waste products and pollutants. Save my name, email, and website in this browser for the next time I comment. Even though Xiaomi managed to create a big dent in the Indian smartphone market by giving giants like Apple and Samsung a run for their money, it was its sloppy-after-sales service that was hurting the customer experience and brand reputation. Recently, Xiaomi opened its 500th service center in India to help customers with all their problems. Lei Jun didnât want to spend money on marketing, so his crew began building brand awareness in forums. Asian customers are price sensitive and they love value for money products, that one mantra that Xiaomi learned quite early in its journey. It can be done by quantitatively and qualitatively assessing the customer market. Naturally, this would be a two-step process. HUNGER MARKETING IS THE GAME: Xiaomi Globalâs director of marketing Amanda Chen tells us: For other companies, I think when it comes to anniversaries itâs usually about the company itself. Hunger marketing In terms of sales, Xiaomi is a good example of Venture Company. Xiaomi's logo "MI" is short for Mobile Internet since Xiaomi ⦠Their staff spent a lot of time on forums, making comments, sending posts and advertising. Another crucial part of Xiaomiâs social media strategy is that ⦠Secondly, Xiaomi would need to go about promoting this message with some clever marketing tactics. It has procured a special place in the Indian market. Cost competitive strategies have been boon for the brand. After Xiaomi entered India, the ⦠Xiaomi holding fast to 5G marketing strategy The Chinese tech giant said its roll-out plan for 5G smartphones in 2020 remains unchanged To combat the global epidemic, Xiaomi has provided necessary materials and assistance to its employees and supply-chain companies, while donating supplies to many affected areas around the world. %����
More importantly, Xiaomi popularised flash sales as a means of generating hype online. "�+g��5o�ZJ˭3Y-e��h���:�*
.��E�8},sR� CEO Lei Jun, who believes word-of-mouth is Xiaomiâs key marketing strategy, credits the microblogging platform for helping to spread good reviews of its product. Ever heard of a concept called ” Hunger Marketing ” – The company entered the market in partnership with Flipkart, India’s leading online retailer, using hunger marketing tactics to market its value-for-money smartphones. Its marketing strategies have proved its competencies to establish its worth in the markets worldwide. This way Xiaomi actually lowered the price of the “Premium” – gave customers a clear substitute which was of premium quality, had superior specs and was way cheaper than the latest Apple and Samsung smartphones. Penetrative Pricing â Xiaomi has the strongest penetrative pricing advantage because it generally uses direct marketing techniques and avoids dealer and distributor margins. Xiaomi used to hunger marketing strategy and ran flash sales for new model launches, with the sales typically ending within seconds of opening. Truly, Xiaomi is a perfect example of a start-up business. �,)��r0�)�we��Vؕ]��dR��7?��8�Ҝp��SuY%K@L��� �BDY�d�����lWU�ȤN
ߦ�.d�=p�����z�5LWm��Ȍ����,�(0��ɪwY�|� ����+M� Mi Preferred Partner stores are key multi-brand retail stores which carry differentiated Xiaomi branding and get stock from Xiaomi on priority. ABOUT XIAOMI CORPORATION Xiaomi Corpoation is a Chinese electronics company headquartered in Beijing. Xiaomi has the best of the employees who work efficiently to bring the company on the top of the respective markets. Place â gain strength at home first. Xiaomi used three-pronged strategy for building its offline business which involved large format retailers (where Xiaomi puts up a pop-up store at big electronics retailers), Mi Preferred Partner stores, and its own Mi Home stores. For instance, in a flash sale for the Redmi 1S model in September 2014, around 40,000 pieces were sold out in just 4.2 seconds. We all know this deviation was a distant plan from Xiaomiâs initial marketing strategy, where it kept away the traditional advertising tools. THE EMAIL FUNNEL SHOULD BE MANAGED THROUGH ACTIVE CAMPAIGN OR SIMILAR SOFTWARE, ⦠S OCIAL MARKETING STRATEGY ANALYSIS ON X IAOMI PHONE. For Xiaomi, itâs about our Mi fans. Xiaomi used to hunger marketing strategy and ran flash sales for new model launches, with the sales typically ending within seconds of opening. Let’s check out the Marketing Strategy of Xiaomi that helped the brand crack the Indian market and become the largest selling smartphone brand. endobj
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To counter this problem, Xiaomi shifted its focus to improve the after sales service being provided to the customers. The brand had always emitted the idea of their products sell for themselves. 5���0�g�eVz�C|�dM���f0�����-�׃�la~��j���y,�1E���u)wYb��e�z}�ßVrf^�7�j�<9k��ꖴ��d+�Ȃ9�֭ ��8��U�̿f,64�C�$̾&CK�p3�W��!L�}ukE&An�;ӝ��Ү���__k��hP+s��n�t� �HwyP�P��u^�YԒ����N]���e-+W�|�d�ԢV�_����C���2��f_��8��d��dw�����gt�=n�n�zJ�G���(2�5��Wd����m}��e���N�e5;��|���7���zC\j98�C��ޤq��99���L`�����N�t��4Oۊjr�~���ԝ7u�1�.N��Nq�(vL�c��0D5h[v�Y_�L�2�ص1 :�T7���Ү����[u��^_ݫ�����է�U{rSi�V�4�j���R��Fu�-ݵ��fx�=�\�Q��A����,�m�X��!���a�g�%52o�� �.��e�x0Q;'}�5��#���]�%l�l�X'��/�j�'|$�e���"ם�r�f�6����=���|q�!�f�+�1���Q^��. 3 0 obj
It has been a unique blend of business strategies, digital marketing strategies and social media marketing strategies which has transformed the business in just 5 years of its inception. <>
Xiaomi Marketing Strategy development requires a comprehensive market analysis. Xiaomi for one has a very well defined target audience. Overall, the strategies used by Xiaomi Mi Smartphones have worked big time. Xiaomi segmentation, targeting and positioning is needed to indentify the target customer segment for the company and to develop products and services that are attractive to this segment. <>/Metadata 2572 0 R/ViewerPreferences 2573 0 R>>
Copyright © 2018 Heart of Codes — Escapade WordPress theme by. With a marketing strategy as well defined as it is now, we surely see Xiaomi give a very hard time to Apple and Samsung in the coming future. Xiaomi's popularity is a mad frenzy in India, and the demand exceeds the supply immensely. Founded in 2010, Xiaomi is the brainchild of Chinese entrepreneur Li Jun â a man who first made his mark by selling a Chinese online book company to Amazon (AMZN) for $75 million. III. ��+��N�U�|������������_~�������_��������~����~�L��#�\���-xr�����~Z~���~�������\o����w�����|��o�Ǐ��`S�2����|�k\3�~�K���M�5Lt�g*��/L��L���Z���Zm+�>�3��- ���"��p=L�9'*j.��[?9�A]�:}z.�3�Z��jUޘ�hk ��E�l��n��SO᧸+�I�c�j�s'����.N���Y�J��Ni%��(�bd=d{v��e]�/�� g�@��5�="���~Nۼk[���]q��튪�� h�l��n���z}p�i��kQaV
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6�:� �BV�(�i�T娪yMOY+�'7K4)�����i�����)���I��A�(9RY��r���T��6�� ← Marketing Strategy of Starbucks – Creating a notable brand, Competitors of KFC – Who is winning the fast food battle →. More than the specs of the phone, an interesting facet to the company is its marketing strategy. Like every company, Xiaomi faces some Threats: Although there are rumors of XiaoMiâs inevitable coming to ⦠Page 2 of 34 ABSTRACT This document provides a marketing report on Xiaomi Inc, a multinational corporation based in Beijing, China. This tactic not only created a sense of scarcity but also made customers curious about the product which added in on the urge to buy the phone in the next sale. While these stores continue to sell devices from other brands, as usual, they get additional business by being an outpost for Xiaomi. A. Image Source: Euromonitor, Xiaomi surpassed Apple in market share in Chinaâs consumer electronics market, thanks in part to its grassroots approach. �.���/��ϩ~�j��u(����[`��Up�Pf�a��%��߈�Uֺl��!�w��a�dY%�-��C��/C����X�`����NY�+��=����ɕ]Q5ee�*{ �I]�fWV��E�I~���f�\7�;e����w�AZk�x���"Q����J;۰�XGxȬ�
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CONSISTENT COMMUNICATIONS WITH NEW XIAOMI PURCHASERS AND LEADS WHO OPT IN FROM ANY OF THE MARKETING EFFORTS WILL INCREASE CUSTOMER LOYALTY, BRAND RECOGNITION, BRAND ENGAGEMENT, REFERRAL, AND REPURCHASE VALUE. %PDF-1.7
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