Xiaomi
1. Introduction
A serial entrepreneur Lei Jun has founded Xiaomi Technology Co Ltd in 2010, which he believes that high-quality technology does not necessary need to cost a fortune. The company has developed remarkable hardware, software and Internet services that are sold directly to customers to keep the price competitive and low. (Xiaomi, About Us) Since Xiaomi have been founded, the company has grown to become the third largest smartphone distributor in the world. (Bloomberg News, 30 Oct 2014)
The article talks about how Xiaomi make their first step of a global presence into Singapore’s market. It also gives us a detailed description of the technical specification and pricing of the new phone, Redmi in Singapore. Some of the marketing strategy like, market segmentation and marketing mix is being used by Xiaomi will be elaborated in the analysis section. Furthermore, some limitations about Xiaomi marketing strategy and also the recommendation to overcome the limitation will also be discussed.
2. Analysis
2.1. Market Segmentation
Although Xiaomi has only have been in the smartphone industry for four years. It has successfully gain recognition from the world for being a cheap smartphones distributor. The company then focused on the market in China and at the same time ensure that they gain recognition by the rest of the world for their cheap and affordable quality smartphone before moving on to expand their markets overseas. As the world is moving towards to be more technology orientated, Xiaomi took advantage of it and introduce their smartphone at a relative cheap price as compared to other smartphone companies like Samsung or iPhone. Through this introduction, it allows customers to have more varieties of smartphone to compare and choose from. As customers are always looking for cheaper alternative, it further allows Xiaomi to gain more market share, as their smartphone are cheaper. In addition, the cheap pricing of Xiaomi smartphone also captures the
A serial entrepreneur Lei Jun has founded Xiaomi Technology Co Ltd in 2010, which he believes that high-quality technology does not necessary need to cost a fortune. The company has developed remarkable hardware, software and Internet services that are sold directly to customers to keep the price competitive and low. (Xiaomi, About Us) Since Xiaomi have been founded, the company has grown to become the third largest smartphone distributor in the world. (Bloomberg News, 30 Oct 2014)
The article talks about how Xiaomi make their first step of a global presence into Singapore’s market. It also gives us a detailed description of the technical specification and pricing of the new phone, Redmi in Singapore. Some of the marketing strategy like, market segmentation and marketing mix is being used by Xiaomi will be elaborated in the analysis section. Furthermore, some limitations about Xiaomi marketing strategy and also the recommendation to overcome the limitation will also be discussed.
2. Analysis
2.1. Market Segmentation
Although Xiaomi has only have been in the smartphone industry for four years. It has successfully gain recognition from the world for being a cheap smartphones distributor. The company then focused on the market in China and at the same time ensure that they gain recognition by the rest of the world for their cheap and affordable quality smartphone before moving on to expand their markets overseas. As the world is moving towards to be more technology orientated, Xiaomi took advantage of it and introduce their smartphone at a relative cheap price as compared to other smartphone companies like Samsung or iPhone. Through this introduction, it allows customers to have more varieties of smartphone to compare and choose from. As customers are always looking for cheaper alternative, it further allows Xiaomi to gain more market share, as their smartphone are cheaper. In addition, the cheap pricing of Xiaomi smartphone also captures the