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Marketing mix of xiaomi
- 1. Marketing management Submitted by :- Ujjwal kumar jha b.Com (hons) M.A.I.M.S
- 2. Introduction Xiaomi inc. is a privately owned Chinese electronics and software companyis a privately owned Chinese electronics and software company. It is the world's 5th largest smartphone maker in 2017
- 4. Products
- 6. Micro environmental factors Competitors Technologies change pricing Stratergy services
- 7. Customers • Price expectation • New features • Quality • performance
- 8. Distribution • Mi website • E-commerce websites
- 9. Company • Accounting department • Public relations • Sales department
- 10. MACRO ENVIRONMENTAL FACTORS • Social factor • Technical factor • Demographic factors • Economic environment
- 11. Social factor • Sentiments of public • Employment • laws
- 12. Technical factor • Operating system • Advancements • New features
- 13. Demographic factors • Location • Gender • Age
- 14. Economic Factors • Budget • Economic sections • Inflation
- 15. Segmentation and targeting Xiaomi segmented their market on the basis of smartphone enthusiasts and targeted the enthusiasts who can’t afford the expensive smartphones but they want to enjoy the charm of technology.
- 16. Marketing mix 4p’s • Price • Product • Place • Promotion
- 17. Price Xiaomi uses low pricing strategy as compared to its competitors for the same product, so that maximum smartphone enthusiast can purchase.
- 18. Products 1. Smartphones 2. Fitnessbands 3. Headphones 4. Wifi-Devices 5. MI Spectacles 6. laptops
- 19. Place Xiaomi traditionally does not have physical stores, it sells its product online through E-commerce websites.
- 20. Promotion Xiaomi uses “customer word of mouth” technique for its promotion & promotion online through MI community and forum.
- 21. Conclusion Xiaomi has a unique business model . It has been successful at incorporating a crowd sourcing strategy at the same time it has dispenced all the traditional marketing method.