Marketing Proposal and Strategy for New Xiaomi Product, MiSpectacles
Marketing Proposal and Strategy for
New Xiaomi Product
“MiSpectacles”
Co-authored by Kyaw Soe Hein
12 Feb 2015
ABSTRACT
This document provides a marketing report on Xiaomi Inc, a multinational corporation based in Beijing, China. Xiaomi is a privately owned Chinese electronics company founded by Lei Jun and several partners in 2010, and which has now grown to be the world’s third largest smartphone distributor. The report begins with an introduction
Xiaomi and briefly highlights the company’s background and history. Highlights of the firm’s external environment are provided using the PEST framework, followed by an analysis of the competitive environment using the Porter’s Five Forces framework, leading to a discussion on the organisation’s strengths, weaknesses, opportunities and threats in light of its operating environment. The report then proposes 3 viable market segments for the proposed new product (MiSpectacles), and selects a proposed target market segment, highlighting the company’s differentiating strategy and value proposition. The report concludes with a proposal on the marketing mix for the new product, as well as the product development strategy.
Page 2 of 34
TABLE OF CONTENTS
ABSTRACT .................................................................................................................... 2
TABLE OF CONTENTS ............................................................................................... 3
LIST OF TABLES AND FIGURES ............................................................................. 4
GLOSSARY ................................................... ERROR! BOOKMARK NOT DEFINED.
1.0
INTRODUCTION ................................................................................................ 1
2.0
MARKETING ENVIRONMENT ANALYSIS (SWOT) .................................. 6
2.1 ANALYSIS OF THE GENERAL ENVIRONMENT ........................................................ 6
2.1.1 Social Factor
New Xiaomi Product
“MiSpectacles”
Co-authored by Kyaw Soe Hein
12 Feb 2015
ABSTRACT
This document provides a marketing report on Xiaomi Inc, a multinational corporation based in Beijing, China. Xiaomi is a privately owned Chinese electronics company founded by Lei Jun and several partners in 2010, and which has now grown to be the world’s third largest smartphone distributor. The report begins with an introduction
Xiaomi and briefly highlights the company’s background and history. Highlights of the firm’s external environment are provided using the PEST framework, followed by an analysis of the competitive environment using the Porter’s Five Forces framework, leading to a discussion on the organisation’s strengths, weaknesses, opportunities and threats in light of its operating environment. The report then proposes 3 viable market segments for the proposed new product (MiSpectacles), and selects a proposed target market segment, highlighting the company’s differentiating strategy and value proposition. The report concludes with a proposal on the marketing mix for the new product, as well as the product development strategy.
Page 2 of 34
TABLE OF CONTENTS
ABSTRACT .................................................................................................................... 2
TABLE OF CONTENTS ............................................................................................... 3
LIST OF TABLES AND FIGURES ............................................................................. 4
GLOSSARY ................................................... ERROR! BOOKMARK NOT DEFINED.
1.0
INTRODUCTION ................................................................................................ 1
2.0
MARKETING ENVIRONMENT ANALYSIS (SWOT) .................................. 6
2.1 ANALYSIS OF THE GENERAL ENVIRONMENT ........................................................ 6
2.1.1 Social Factor
References: Hakuhodo, (2013) MaRS, (2009) Mims, C. (2015). In Smartphone Market, It’s Luxury or Rock Bottom. [online] WSJ. Available at: http://www.wsj.com/articles/in-smartphone-marketits-luxury-or-rock-bottom-1422842032 [Accessed 11 Feb. 2015]. http://www.forbes.com/profile/lei-jun [Accessed 11 Feb. 2015]. Xiaomi, (2015). Design of MIUI 6 - MIUI Official English Site. [online] En.miui.com