xiaomi marketing strategy

Page 2 of 34 ABSTRACT This document provides a marketing report on Xiaomi Inc, a multinational corporation based in Beijing, China. Xiaomi marketing strategy has been traditionally minimalistic due to the cost leadership business strategy pursued by the company. Recently, Xiaomi opened its 500th service center in India to help customers with all their problems. Xiaomi makes and invests in smartphones, mobile apps, laptops, and related consumer electronics. THE EMAIL FUNNEL SHOULD BE MANAGED THROUGH ACTIVE CAMPAIGN OR SIMILAR SOFTWARE, … 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. 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. Opening offline stores were one of the major decisions in the marketing strategy of Xiaomi. "�+g��5o�ZJ˭3Y-e��h���:�* .��E�8},sR� While these stores continue to sell devices from other brands, as usual, they get additional business by being an outpost for Xiaomi. <> 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. 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. 4 0 obj CEO Lei Jun, who believes word-of-mouth is Xiaomi’s key marketing strategy, credits the microblogging platform for helping to spread good reviews of its product. They target the fast growing but nascent middle class in emerging economies. �+�\�'vJק�ҽ>�L�w'�����E'�y�@I����@o''l;�o�zu����!�����9�I�UE E�f�9p|���J�@P�� Xiaomi’s founder and CEO, Lei Jun, said the company’s ultimate goal was “making good but cheap things,” a low pricing strategy that had succeeded in China. In this paper, the background of Xiaomi's, its marketing strategies, business models has been presented. To counter this problem, Xiaomi shifted its focus to improve the after sales service being provided to the customers. A. 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. Hunger marketing In terms of sales, Xiaomi is a good example of Venture Company. Their staff spent a lot of time on forums, making comments, sending posts and advertising. 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^��. endobj 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. Image Source: Euromonitor, Xiaomi surpassed Apple in market share in China’s consumer electronics market, thanks in part to its grassroots approach. Most people thought the success of Xiaomi was its marketing strategies. Good Quality products – Even at such low prices, no one can doubt the quality of Xiaomi phones. The company sold over 70 million mobile phones in 2015—while aggressively building out a robust ecosystem. ABOUT XIAOMI CORPORATION Xiaomi Corpoation is a Chinese electronics company headquartered in Beijing. 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. Lei Jun didn’t want to spend money on marketing, so his crew began building brand awareness in forums. 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. Xiaomi launched smartphones packed with premium specs at a price which were half the price of its competitors like Apple and Samsung. We don't invest in traditional marketing. Xiaomi's logo "MI" is short for Mobile Internet since Xiaomi … 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. Its marketing strategies have proved its competencies to establish its worth in the markets worldwide. Your email address will not be published. More than the specs of the phone, an interesting facet to the company is its marketing strategy. Xiaomi used to hunger marketing strategy and ran flash sales for new model launches, with the sales typically ending within seconds of opening. Mi Preferred Partner stores are key multi-brand retail stores which carry differentiated Xiaomi branding and get stock from Xiaomi on priority. inventory for Xiaomi, and this will definitely save cost for Xiaomi. III. 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. Founded in 2010, Xiaomi is the brainchild of Chinese entrepreneur Li Jun – a man who first made his mark by selling a Chinese online book company to Amazon (AMZN) for $75 million. All know this deviation was a distant plan from Xiaomi’s initial marketing strategy development a... Euromonitor, Xiaomi shifted its focus to improve the after sales service being provided to the.. And advertising procured a special place in the markets worldwide other brands, usual! 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