EXERCISE 1: MARKET RESEARCH (0137263 LIM EN ZHI)
Exercise 1: Market Research (0137263 LIM EN ZHI)
Tuesday 28 May 2024
A. Question F : A SWOT analysis on the smartphone brand
Strength
1.What are the key strength of Xiaomi smartphone?
High quality but cheap price and cost conscious.
2.What are Xiaomi pricing strategy?
High quality but affordable price
3.What are innovative features do Xiaomi smartphones offer?
Advanced camera system, long battery life, fast charging and integration with AI.
4. How strong is Xiaomi brand recognition globally?
Widely known in Asia
5.What role does Xiaomi's online presence play in its market strength?
Xiaomi's strong online presence through its own platforms and e-commerce sites has been crucial. Flash sales and exclusive online launches have generated significant buzz and demand.
Weakness
6. What are the criticism receive by Xiaomi?
Presence of ads in MIUI and concerns about data privacy.
7.What are the challenges of Xiaomi ?
Overcoming the perception as budget smartphone instead of a luxury smartphone.
8.What are the risks of being a “budget smartphone” brand?
Can limit its appeal in the premium segment.
Opportunities
9.What partnerships and collaboration can Xiaomi pursue?
Xiaomi can develop security enhancement collaboration with another security app company.
10.How can Xiaomi expand its offline retail presence?
By increasing the number of Mi stores globally and partnering with more retail chain.
11. How can Xiaomi enhance its marketing strategies to better compete with premium brands.
Investing in high profile marketing campaigns, endorsements and sponsorship can elevate the image of xiaomi’s brand.
Threats
12. What competitive pressure do Xiaomi face?
Xiaomi faces intense competition from brands like apple, Samsung, Huawei and emerging Chinese brands.
13. What effects are there on Xiaomi due to counterfeit products?
Harm its reputation due to substandard quality.
14.How does the cybersecurity of Xiaomi affect the brand?
Data breaches and security vulnerabilities lead to dissatisfaction and distrust from customers which can lead to customers choosing other brands.
15.What role do trade tensions between China and other countries play in Xiaomi's global strategy?
Trade tensions can lead to complicating Xiaomi's efforts to expand internationally.
16.How do changing consumer preferences affect Xiaomi's product strategy?
Rapid shifts in consumer preferences require Xiaomi to continuously innovate and adapt its product lineup, which can be resource-intensive.
17.What impact do economic fluctuations have on Xiaomi's sales?
Economic downturns can reduce consumer spending on non-essential items like smartphones, impacting Xiaomi's sales, especially in price-sensitive markets.
18.What threats does Xiaomi face from intellectual property and patent disputes?
Intellectual property disputes can lead to costly legal battles and potential bans on sales in certain regions, affecting Xiaomi's market presence.
19.How do advancements in technology from competitors affect Xiaomi's market position?
Competitors' technological advancements can outpace Xiaomi's offerings, making it essential for Xiaomi to stay ahead through continuous innovation.
20.How do fluctuations in supply chain stability affect Xiaomi's production?
Shortages of components or manufacturing delays, can impact Xiaomi's ability to meet demand.
B. Question H : the smartphone brand’s latest products & creative campaigns
21. What is the latest Xiaomi smartphone?
Xiaomi 14 and Poco F6
22. What is Xiaomi 14 specs?
Snapdragon 88 gen 3, 12gb+256gb / 12gb+512gb and leica optical lens.
23. Massive difference between Xiaomi 14 and Poco F6?
Xiaomi 14 has leica camera lens and Poco F6 doesn't .
24.What are some Xiaomi memorable campaigns?
Every moment in your life is extraordinary
25. What Is “ every moment in your life is extraordinary” ?
The campaign is centered around the idea that even the most ordinary moments can be transformed into something beautiful and that everyday photographs can be turned into masterpieces.
26. What is the campaign concept?
Xiaomi Creators capturing candid moments of passers-by.
27. Where did the location of this campaign take place?
Hong Kong
Madrid
Dusseldorf
Perugia
Paris
28. What is the objective of this campaign?
Capture the most authentic and natural beauty in people's moments.
29. How does this campaign promote xiaomi?
Capturing and printing high-quality photos highlights Xiaomi smartphones' superior camera capabilities and involving passers-by creates a personal and memorable experience, boosting brand recall.
30.What phone was used in the “every moment in your life is extraordinary” campaign?
Xiaomi 13 T
31. What is some Xiaomi's campaign?
Illuminating Moments Campaign
32. What is the tagline of the illuminating moments campaign?
Light up your moments with xiaomi
33.What are the key features in the illuminating moments campaign?
Emphasizing low light photography and advanced camera features by using xiaomi series 14
34.What are the activities of the illuminating moments campaign?
Photo contest, Participants are required to successfully submit their photo on the Xiaomi Global Community (https://new.c.mi.com/global).
35.What is the goal of the illuminating moments campaign?
Highlighting the advanced camera and display features of Xiaomi smartphones.
36. What are the promotional materials?
Video Ads, featuring stories of people capturing special moments at night or in low-light environments.
37. What is the objective of the illuminating moments campaign?
To Showcase how Xiaomi smartphones excel in capturing and enhancing precious moments, even in low-light conditions.
38. What is one example of a Xiaomi partnership?
Jake Homovich, a documentary photographer.
39. What is some of his contribution in the promotion of xiaomi smartphone?
Active partnership with xiaomi recently which are Xiaomi 13 and Xiaomi 14. One of his work of Xiaomi 14 is “Forever Young” which is a street photography advertisement campaign for the Xiaomi 14 Pro cellphone partnership with Leica.
40. What has the xiaomi 14 campaign focused on recently?
The camera.
C. Short Summary
Conducting the SWOT analysis on Xiaomi has deepened my understanding of its strategic positioning in the smartphone market. Xiaomi’s ability to offer high-quality, affordable devices stands out as a major strength, effectively capturing a significant market share among cost-conscious consumers.
Studying Xiaomi's smartphone strategy has taught me valuable lessons for my own projects. Emphasizing quality and affordability, prioritizing innovation like advanced technology integration, and addressing consumer concerns are key takeaways. Leveraging online platforms strategically and adapting to market dynamics are important for success, alongside building a strong brand identity through effective marketing. These insights from Xiaomi provide a solid framework for navigating challenges and optimizing opportunities in my team fast food venture.
References
1.Bloomberg - Are you a robot? (2021, May12). https://www.bloomberg.com/news/articles/2021-05-12/xiaomi-u-s-government-agree-to-drop-firm-from-blacklist
2.Chen, P. (2023, March 14). Xiaomi has changed consumers' perception of mobile phones - Marketing China. Marketing China. https://marketingtochina.com/xiaomi-has-changed-consumers-perception-of-mobile-phones/
3.Chiu, K., & Chiu, K. (2019, September 20). Xiaomi wants to sell fancier phones, but people think they aren’t swanky enough. South China Morning Post. https://www.scmp.com/abacus/tech/article/3029013/xiaomi-wants-sell-fancier-phones-people-think-they-arent-swanky-enough
4.Mi Global Home. (n.d.). https://www.mi.com/global/service/support/illuminating-moments-campaign-t&c.html
5.POCO F6 - Xiaomi Malaysia. (n.d.). Xiaomi. https://www.mi.com/my/product/poco-f6/
6.Wei, R., & Long, Q. (2021). Research on Xiaomi’s Internationalized Business Model. Open Journal of Business and Management, 09(03), 1050–1063. https://doi.org/10.4236/ojbm.2021.93056
7.Xiaomi 14 - Xiaomi Malaysia. (n.d.). Xiaomi. https://www.mi.com/my/product/xiaomi-14/
8.Xiaomi Community. (2023, November 2). https://c.mi.com/global/post/653186
9.Xiaomi: 14 Pro Ad Campaign - Jake Homovich Documentary Photographer. (n.d.). Jake Homovich Documentary Photographer. https://www.jakehomovich.com/xiaomi-14-pro-ad-campaign
10.Xiaomi’s Globalization Strategy and Challenges. (n.d.). Stanford Graduate School of Business. https://www.gsb.stanford.edu/faculty-research/case-studies/xiaomis-globalization-strategy-challenges
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