Marketing mix success of Xiaomi
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100810690 1 MN2061K Benedetta Cappellini and Andreas Chatzidakis 1 Management with Marketing You are required that you write a 1000-word analysis on a marketing news story which has appeared in 2014 and was published in English. ANY NEWS ARTICLE FROM 100 – 500 WORDS IS
APPROPRIATE.
Background
Founded in 2010 in Beijing, Xiaomi first began by launching custom
Android-based firmware- MIUI. Backed by tech savvy early adopters and enthusiast, it thrived on feedback to improve usability. A year later they entered the hardware market with their flagship phone, the Mi One which featured the top specifications at a low price. Today, Xiaomi has launched it’s
4th series of their flagship phone the Mi 4 and have expanded their product line to mid tier smart phones, smart TV, routers, set-up boxes and other accessories. In just four short years, Xiaomi has become the third largest smartphone manufacturer just behind technology giants Apple and Samsung
(Appendix B).
Introduction
This essay will discuss the marketing mix, a combination of marketing tactics which consist of four elements known as the 4Ps- product, price, place, and promotion that is derived from the marketing strategy of the company
(Kotler and Armstrong, 2012) and the efforts made to adapt each mix to reach it 's intended audience in a foreign market.
Price
Xiaomi aims to provide similar specifications phones to competitors but at a much lower price. Currently they offer 2 series of flagship phones, the Mi and
Redmi (or Hongmi). The Mi 3 has specifications that is similar to Sony’s Xperia
Z1 that is priced only at CNY 1,999 (USD$322.62) as compared to Z1 retail
price of USD$935 (Appendix C). The Redmi series, a mid tier range is priced at
CNY 799, targeting the lower income in emerging markets such as China,
India with plans to expand into
(Bottom Left of College
Card)
Year:
Course Code
Course Tutor:
Assignment No.:
Degree Title:
Question No. & Title:
100810690 1 MN2061K Benedetta Cappellini and Andreas Chatzidakis 1 Management with Marketing You are required that you write a 1000-word analysis on a marketing news story which has appeared in 2014 and was published in English. ANY NEWS ARTICLE FROM 100 – 500 WORDS IS
APPROPRIATE.
Background
Founded in 2010 in Beijing, Xiaomi first began by launching custom
Android-based firmware- MIUI. Backed by tech savvy early adopters and enthusiast, it thrived on feedback to improve usability. A year later they entered the hardware market with their flagship phone, the Mi One which featured the top specifications at a low price. Today, Xiaomi has launched it’s
4th series of their flagship phone the Mi 4 and have expanded their product line to mid tier smart phones, smart TV, routers, set-up boxes and other accessories. In just four short years, Xiaomi has become the third largest smartphone manufacturer just behind technology giants Apple and Samsung
(Appendix B).
Introduction
This essay will discuss the marketing mix, a combination of marketing tactics which consist of four elements known as the 4Ps- product, price, place, and promotion that is derived from the marketing strategy of the company
(Kotler and Armstrong, 2012) and the efforts made to adapt each mix to reach it 's intended audience in a foreign market.
Price
Xiaomi aims to provide similar specifications phones to competitors but at a much lower price. Currently they offer 2 series of flagship phones, the Mi and
Redmi (or Hongmi). The Mi 3 has specifications that is similar to Sony’s Xperia
Z1 that is priced only at CNY 1,999 (USD$322.62) as compared to Z1 retail
price of USD$935 (Appendix C). The Redmi series, a mid tier range is priced at
CNY 799, targeting the lower income in emerging markets such as China,
India with plans to expand into
References: ASSOCHAM, 2014. E-Commerce Evolution in India: Creating the bricks behind the clicks Bilgin, F. and Wührer, G. (2014), International marketing compact, Wien: Linde Verlag GmbH. Chen, E., Huang, K. and Cheng, L. (2013), Xiaomi: China’s answer to Apple, http://asiaresearch.daiwacm.com/eg/cgi-bin/files/china_tech_food_chai Chen, Y., Kuo, C., Jhan, Y. and Chiu, P. (2014) ‘Hunger marketing on smartphone’, Proceedings of the Management of Engineering & Technology (PICMET), 2014 Portland International Conference, Kanazawa, 27-31 July Kotler, P. and Armstrong, G. (2012), Principles of marketing, Boston: Pearson Prentice Hall. Kumar, A. (2014), What India taught Xiaomi: On Flipkart, lessons and future plans, Pride, W. and Ferrell, O. (2011), Marketing express, Mason, Oh.: South-Western Cengage Learning. Ramesh Kumar, S. (2007), Marketing and branding, New Delhi: Dorling Kindersley (India). Ridge, M. (2014), e-commerce in India: not just cash on delivery to a man on a bike, Siomkos, G. (2009), The Seven Principles Of Wom And Buzz Marketing, New York: Springer Berlin Heidelberg. Snoj, B., Pisnik Korda, A. and Mumel, D. (2004) ‘The relationships among perceived quality, perceived risk and perceived product value’, Jnl of Triggs, R. (2014), Hugo Barra talks business models and Xiaomi success, http://www.androidauthority.com/xiaomi-business-model-success-5596 Year-Over-Year Growth, Q3 2014 Preliminary Data (Units in Millions) ) Source: IDC Worldwide Quarterly Mobile Phone Tracker, October 29, 2014