EXERCISE 1: RESEARCH (0137459 KHOO KAI XUEN)

Exercise 1 : Market Research

XIAOMI小米 & DICOS德克士

40 Q&A

A brief introduction of the smartphone brand and fast food industry


XIAOMI-https://www.mi.com/my/



  1. What is XIAOMI?

  • A Chinese company that has its major ground in electronics, it is known for its smartphones, smart home devices, and other consumer electronics.


  1. When was XIAOMI founded? 

  • Xiaomi Corporation was founded in April 2010 (Presthitha & Goswami, 2021).


  1. Who is the founder of XIAOMI?

  • Xiaomi was founded by Lei Jun, a Chinese entrepreneur (Presthitha & Goswami, 2021).


  1. Who is Lei Jun?

  • He is a graduate in computer science from Wuhan University and former president of the software company Kingsoft (Presthitha & Goswami, 2021).


  1. Why did Lei Jun establish XIAOMI?

  • He established Xiaomi with the mission of providing high-quality technology products at accessible prices, challenging the dominance of established players in the industry. 


  1. Where is XIAOMI’s headquarters?

  • Xiaomi is headquartered in Beijing, China (Presthitha & Goswami, 2021).


  1. What is the meaning of XIAOMI?

  • The "MI" stands for “Mobile Internet”. It also has other meanings, including "Mission Impossible", because Xiaomi faced many challenges that had seemed impossible to defy in the early days (Xiaomi, 2024).


  1. What does XIAOMI sell? 

  • Xiaomi not only sells smartphones, it also introduces a lot of other products such as: smart home devices,wearables,laptops,tablets,TVs and many accessories.


  1. What are XIAOMI's main products?

  • Xiaomi is best known for its smartphones,which are popular for their high quality and affordability.


  1. What are XIAOMI’s notable achievements?

  • Xiaomi has become the world’s third largest smartphone manufacturer in recent years.


  1. What is XIAOMI's belief? 

  • "Just for fans". Xiaomi hardcore Mi fans lead every step of the way. In fact, many Xiaomi employees were first Mi fans before joining the team. As a team, they share the same relentless pursuit of perfection, constantly refining and enhancing their products to create the best user experience possible. They were also fearless in testing new ideas and pushing their own boundaries. Their dedication and belief in innovation, together with the support of Mi fans, are the driving forces behind our unique Mi products.


  1. When did XIAOMI launch its first smartphone?

  • Xiaomi launched its first smartphone, the Xiaomi Mi 1, in August 2011.


  1. What does XIAOMI’ s logo look like?

  • The Xiaomi logo features the company name “ Xiaomi” in bold and uppercase letters. It is typically orange in colour and has a modern, sleek design.

Fast Food Industry


  1. What is fast food? 

  • Fast food is typically associated with hot food served promptly at certain restaurants, requiring minimal preparation before serving. 


  1. What is the fast food industry?

  • The fast food industry refers to the segment of the food service market that specialises in providing quick, convenient, and often inexpensive meals.


  1. When did the fast food industry begin?

  • In the early 20th century, with White Castle opening in 1921.


  1. What types of fast food are commonly served?

  • Hamburgers,fries,fried chicken,sandwiches,and soft drinks. It comes with a la carte or a set.


  1. What is the target market of fast food?

  • Busy individuals.families,teenagers,youngsters who are looking for affordable and convenient meal options, fast food caters to people who are always on the go, like commuters, travellers, and busy workers.


  1. How does franchising work in the fast food industry?

  • In return for paying an initial franchise fee and ongoing royalties, fast food franchise owners gain the advantage of the brand's recognition, an existing customer base, and established business processes. This arrangement is mutually beneficial, as the franchisor extends its market presence through a network of independently owned and operated franchise locations.


  1. How do fast food address nutritional concerns?

  • Fast food is often criticised for being high in fats, sugars,and calories which might lead to many health diseases.


  1. How has the fast food industry responded to the growing health awareness among the market?

  • Fast food chains have added healthier menu choices such as salads.


    The fast food industry’s USPs


DICOS-https://dicos.com.cn/



  1. What is USP?

  • USP stands for unique selling point, is a marketing statement that differentiates a product or brand from its competitors.


  1. What is DICOS?

  • Dicos, also known as 德克士 is a Chinese fast-food restaurant chain. 


  1. Who founded DICOS?

  • Dicos was founded by Ting Hsin International Group.


  1. Who is Ting Hsin International Group?

  • A Taiwanese conglomerate which is known for its investment in the food and beverage industry


  1. When was DICOS founded?

  • Dicos was founded in 1994 in Chengdu, Sichuan, China.


  1. What does DICOS sell?

  • Dicos offers a wide range of menus, including the signature crispy fried chicken, burgers, fries, and soft drinks. The brand also serves a variety of breakfast items such as congee, egg sandwiches, and Chinese-style pancakes. Besides, there are several combo meals available, which are great for sharing with friends and family.


  1. How many stores does DICOS have around China?

  • Dicos is one of the largest foodservice companies in China, with 2,600 stores across 32 provinces and autonomous regions.


  1. What Environmental Initiatives does DICOS take?

  • Many outlets have adopted eco-friendly technologies like solar power, green roofs, and LED lighting. The brand also runs recycling programs and reduces single-use plastics in packaging.


  1. What is special about DICOS food?

  • Dicos adds plant-based eggs from US’ Eat Just to fast food menus.Dicos would replace its conventional egg patty in items such as breakfast burgers and bagels with the US firm’s “Just Egg” — made from mung beans — at restaurants in cities, including Beijing and Shanghai.


  1. Where can people found DICOS?

  • Dicos has numerous locations across China.It can especially be found in urban areas like Beijing,Shanghai,Guangzhou and Chengdu.


  1. Who are the target customers of DICOS?

  • Dicos targets a wide range of customers, including young professionals, families,students.


  1. Why is DICOS popular among customers in China?

  • Its affordable price, localization of menu items that is to make it look attractive to Chinese flavours and also catering to price-sensitive markets.


  1. Who are DICOS’ main competitors?

  • Main competitors include global fast food chains, for example: KFC and Mcdonald’s.


  1. What strategies does DICOS use to attract more customers?

  • Dicos have frequent promotions and discounts, they even have a loyalty program which is designed to reward repeat customers.


  1. What DICOS did to enhance customer’s convenience to buy their products?

  • Dicos offers drive thru services, allowing customers to quickly and easily order and pick up their food.


  1. What is a drive-thru service?

  • A drive-thru is a type of take-out service provided by businesses that allows customers to purchase products without leaving their cars. 


  1. Did DICOS develop its own app?

  • Yes, Dicos developed its own app, allowing customers to place orders, earn and redeem loyalty points.


  1. What DICOS offer for a vegetarian?

  • Dicos has introduced plant-based meat options on its menu, catering to the growing demand for sustainable and vegetarian-friendly food varieties.


  1. What are the benefits of offering artificial meat products?

  • The new meatless options are a response to diners’ increasing interest in healthy diets, as well as their growing environmental consciousness. 


References: 

  1. China’s Dicos adds plant-based eggs from US’ Eat Just to fast food menus - Taipei Times. (2021, January 7). Www.taipeitimes.com. https://www.taipeitimes.com/News/biz/archives/2021/01/07/2003750077


  1. Dicos: A Popular Chain Of Chinese Fast-Food Restaurants. (2023, March 9). https://fiverrme.com/dicos-a-popular-chain-of-chinese-fast-food-restaurants/#:~:text=Dicos%20offers%20a%20wide%20range%20of%20menus%2C%20including


  1. Dicos, One of China’s Leading Fast-Food Chains, Adds Plant-Based JUST Egg to Menu. (2021, January 6). Www.businesswire.com. https://www.businesswire.com/news/home/20210105006021/en/Dicos-One-of-China%E2%80%99s-Leading-Fast-Food-Chains-Adds-Plant-Based-JUST-Egg-to-Menu


  1. Manya Koetse. (2019, October 24). China’s Best Fast-Food Restaurants: These Are the 11 Most Popular Chains in the PRC. Whatsonweibo.com. https://www.whatsonweibo.com/chinas-best-fast-food-restaurants-these-are-the-11-most-popular-chains-in-the-prc/


  1. Presthitha, H., & Goswami, C. (2021, September 1). Xiaomi Success Story - Xiaomi founder, history, funding, revenue, business model, growth. StartupTalky. https://startuptalky.com/xiaomi-success-story/#:~:text=Xiaomi%20is%20an%20electronics%20company%20based%20in%20Beijing%2C


  1. Sheldon, R. (2022, September). What is unique selling point (USP)? TechTarget. https://www.techtarget.com/whatis/definition/unique-selling-point-USP


  1. Tone, S. (2020). Dicos, China’s Rival to KFC, Unveils Imitation Chicken Burgers. #SixthTone. 

https://www.sixthtone.com/news/1006329


  1. Understanding the Franchise Business Model: From Fast Food to Home Services. (2023, September 25). Blog.franchise.neighborly.com. https://blog.franchise.neighborly.com/franchise-business-model#:~:text=In%20exchange%20for%20an%20initial%20franchise%20fee%20and


  1. What is fast food | World Food and Wine. (n.d.). Www.worldfoodwine.com. https://www.worldfoodwine.com/worldly/what-fast-food


  1. Wilson, T. (2006, August 22). How Fast Food Works. HowStuffWorks. https://science.howstuffworks.com/innovation/edible-innovations/fast-food3.htm


  1. Xiaomi. (2024). Mi Global Home. Www.mi.com. 

https://www.mi.com/global/about/


Short Summary on reflection of doing market research: 


Doing marketing research is an essential process to get to know the market trend and understanding the market which will be helpful in identifying market opportunities, getting know of customer needs, and to analyse and evaluate the market. “XIAOMI” prioritising innovation and offering high-quality products at affordable prices are their essential strategies, whereas our fast food industry reference “DICOS” performs well by adapting its menu and services to local preferences. Overall, market research is invaluable for making strategic decisions that will drive business growth and lead to success.

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