<>/Font<>/Pattern<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 960 540] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Are a few factors that Xiaomi take into account while entering a market. Naturally, this would be a two-step process. 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. 3 0 obj III. Opening offline stores were one of the major decisions in the marketing strategy of Xiaomi. Marketing Proposal and Strategy for New Xiaomi Product “MiSpectacles” Co-authored by Kyaw Soe Hein 12 Feb 2015 . 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. 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. Xiaomi used to hunger marketing strategy and ran flash sales for new model launches, with the sales typically ending within seconds of opening. �}�=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�� Xiaomi is a … It can be done by quantitatively and qualitatively assessing the customer market. All these years, Chinese products were seen as cheap quality products until Xiaomi entered the market and changed the game. They target the fast growing but nascent middle class in emerging economies. Their staff spent a lot of time on forums, making comments, sending posts and advertising. endobj Like every company, Xiaomi faces some Threats: 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. We all know this deviation was a distant plan from Xiaomi’s initial marketing strategy, where it kept away the traditional advertising tools. Overall, the strategies used by Xiaomi Mi Smartphones have worked big time. endobj Save my name, email, and website in this browser for the next time I comment. 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. 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. 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. Keeping India as its prime market, the company aim to capture the largest market share in the country in the next three to five years. Penetrative Pricing – Xiaomi has the strongest penetrative pricing advantage because it generally uses direct marketing techniques and avoids dealer and distributor margins. 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. 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. Xiaomi for one has a very well defined target audience. S OCIAL MARKETING STRATEGY ANALYSIS ON X IAOMI PHONE. 1 0 obj Most people thought the success of Xiaomi was its marketing strategies. Threats. The brand had always emitted the idea of their products sell for themselves. Marketing mix strategy is being used to understand on thedesign marketing of Xiaomi. What is the marketing strategy of Xiaomi? Required fields are marked *. First, Xiaomi would need to ensure their manufacturing processes are as green as possible — by reducing and managing waste products and pollutants. Image Source: Euromonitor, Xiaomi surpassed Apple in market share in China’s consumer electronics market, thanks in part to its grassroots approach. When Lei Jun founded Xiaomi in 2009, the first product was MIUI operating system. SUBHANKAR DE MBA 2ND SEM NIT SILCHAR 2. It has procured a special place in the Indian market. Strategy 1: Earning profits from its software. More importantly, Xiaomi popularised flash sales as a means of generating hype online. Copyright © 2018 Heart of Codes — Escapade WordPress theme by. 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. 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. The promotional and advertising strategy in the Xiaomi marketing strategy is as follows: Xiaomi promoted its products by selling high specs at lower price to markets where technology savvy people could not afford high spec products from Xiaomi competitors. Xiaomi launched smartphones packed with premium specs at a price which were half the price of its competitors like Apple and Samsung. THE EMAIL FUNNEL SHOULD BE MANAGED THROUGH ACTIVE CAMPAIGN OR SIMILAR SOFTWARE, … <> 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. ABOUT XIAOMI CORPORATION Xiaomi Corpoation is a Chinese electronics company headquartered in Beijing. 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