Xiaomi Inc. Report contains a full analysis of Xiaomi business strategy. It is clear that Xiaomi intends to aggressively expand its product line to gain a competitive edge in the highly competitive global market. Oppo 4. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. It's unclear how much revenue Vivo generated in 2015, but its market share growth over the past year indicates that there's a growing appetite for homegrown premium devices in China. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. can be threats. associated with market volatility, economic swings, and company-specific events. Below are the top 4 competitors of Xiaomi Redmi: 1. Micromax. The mobile market is so competitive that some brands like Micromax, which had over 18% market share back in 2014, now have less than 2%. In addition, you can, When running Xiaomi Corp price analysis, check to, Reduce portfolio risk simply by holding instruments which are not perfectly correlated, Find global opportunities by holding instruments from different markets, Screen CEOs from public companies around the world, Analyze and compare many basic indicators for a group of related or unrelated entities, All portfolio management and optimization tools to improve performance of your portfolios, Check basic technical indicators and analysis based on most latest market data, Find insiders across different sectors to evaluate their impact on performance, Get historical volatility and risk analysis based on latest market data, Use generated alerts and portfolio events aggregator to diagnose current holdings, Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk . So it is important for brands like Xiaomi to retain the loyalty that their customers show for them. [1] About Us (2018) MI, Available at: http://www.mi.com/en/about/, [2] Liao, R. (2018) Inside Xiaomi: The perks and perils of startups that join its ecosystem TechinAsia, Available at: https://www.techinasia.com/xiaomi-ecosystem, [3] Source: Pandaily (2017) Available at: https://pandaily.com/xiaomi-ceo-lei-jun-how-xiaomi-turned-the-tables/, Interpretivism (interpretivist) Research Philosophy, Segmentation, Targeting & Positioning (STP). The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. Retrieved February 6, 2018, from https://www.mi.com/in/about/ Xiaomi Redmi is one of the leading brands in the mobile handsets sector. View, predict the probability of Xiaomi Corp's future price movements, Sponsored content. Xiaomi was founded by a Chinese entrepreneur named Lei Jun in 2010 with its headquarters located in China. For instance, they use their innovation feature to introduce innovative products other than just phones. The content on MBA Skool has been created for educational & academic purpose only. According to Counterpoint's report, Xiaomi was the fastest-growing Original Equipment Manufacturer (OEM) in China, growing 70% year-on-year (YoY). Below are the Strengths in the SWOT Analysis of Xiaomi Redmi : 1. 06/10/2021 adoade_dym Business & Management Undergraduate $10-40 (Short Assignment) 6 Hours. Following are the opportunities in Xiaomi Redmi SWOT Analysis: 1. According to its business strategy, Xiaomi fosters, develops and encourages its fans via Mi Fan Festivals that involves discounts and gifts. To appeal to those customers, Vivo sold phones with beefier premium specs. Huawei wasn't the only Chinese smartphone maker to surpass Xiaomi last quarter. This marks the first . The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. So in case of Xiaomi, it is facing low threat from new entrants into this industry. Motorola Moto 2. Xiaomi's market positioning is aimed at bridging the gap between the mass market and the high-end segment of the market. The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Xiaomi's latest financial numbers fully demonstrate the impact of the global smartphone market downturn in Q2 2022. A competitor analysis, also called competitive analysis and competition analysis, is the process of examining similar brands in your industry to gain insight into their offerings, branding, sales, and marketing approaches. devices. In Xiaomi Redmi SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. Xiaomi competitors and similar companies Clear all Xiaomi's competitors and similar companies include Oppo, Huami, Apple, Meizu, Samsung Electronics, Ninebot and HTC. Marketing Project: Market Analysis for Company, Xiaomi India / Xiaomi Inc., implying marketing management concepts. For instance, they noticed the selfie fever rising all around the world and cashed on that by improving their selfie camera and marketed it. Philips 12. Let us start the Xiaomi Redmi SWOT Analysis: For Xiaomi Redmi, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. Salesforce (CRM) Q4 2023 Earnings Call Transcript, Splunk (SPLK) Q4 2023 Earnings Call Transcript. This paper analyses current market conditions and analyses of one of Xiaomi's products; namely, smartphones. That is Xiaomi's IoT ecosystem, Xiaomi is a Chinese-based company and for a number of reasons, the brand has struggled to find acceptance in the western market. Much of that growth was fueled by its consumer device business, which sells smartphones and tablets. Efficient leadership by Lei Jun 2. Sony 11. The Utilities theme has 30 constituents at this time. Xiaomi segmentation, targeting and positioning is needed to indentify the target customer segment for the company and to develop products and services that are attractive to this segment. Samsung 9. Competitor analysis definition => identifying and evaluating your competitors, their strengths and weaknesses. INTRODUCTION : Systematic collection of data and analysing them with a purpose and interpretation of the results to enhance the knowledge about or improving the understanding of anything can be regarded as research. Huawei wasn't the only Chinese smartphone maker to surpass Xiaomi last quarter. If we go by market share, which is constantly falling due to non-satisfactory sales, poor marketing strategies and non-competent products. Thus, they are a huge threat to Xiaomi. Lenovo 3. Its X1 was the world's thinnest smartphone at 6.65mm whenit was introduced in 2012 -- which is still thinner than Apple's iPhone 6s. This article has been researched & authored by the Content & Research Team. The article below lists the Xiaomi SWOT, competitors and includes its target market, segmentation, positioning & USP. Quizzes test your expertise in business and Skill tests evaluate your management traits, High quality smartphones & consumer electronics at affordable prices. Samsung Group has a huge product line i.e. Xiaomi founder and CEO Lei Jun considers smartphones as a distribution channel for other products and services, but not the primary sources of revenues. A correlation of -1.0 means that prices move in opposite directions. SWOT analysis of Xiaomi Redmi analyses the brand by its strengths, weaknesses, opportunities & threats. And all these Chinese companies are trying to capture their fair share of the international market, where Apple and Samsung are still the major players. Because of this, Xiaomi has a very competitive marketing strategy and they claim that most of their customers reach them for their products information because of the hype created on social media and the power of word of mouth. The threats in the SWOT Analysis of Xiaomi Redmi are as mentioned: 1. The Motley Fool recommends Cirrus Logic. The opportunities for any brand can include areas of improvement to increase its business. Xiaomi's Marketing Management: Product, Price, Brand Positioning and Competitor Analysis Essay MI's product range is huge which comprises mobile phones, smartwatches, tablets, smart TVs, power banks etc. These cookies will be stored in your browser only with your consent. Retrieved July 16, 2017, from https://www.fool.com/investing/2016/08/18/xiaomi-should-fear-these-3-chinese-competitors.aspx, Designed by Elegant Themes | Powered by WordPress. Fans spend countless hours online discussing Xiaomi products on various forums, thus increasing the level of brand awareness with no extra cost for the company. 4. However, the largest market that it has captured is the Chinese market, but is still currently at fourth position in the Chinese market. Retrieved February 6, 2018, from http://www.china.org.cn/opinion/2015-04/13/content_35307226.htm A correlation of -1.0 means that prices move in opposite directions. It is an acronym for political, economic, social, technological, environmental and legal factors that shape the macro business environment. IDC reports that Xiaomi's shipments in China fell 38% annually to 10.5 million during the second quarter, and that its market share declined from 16.1% to 9.5%. 5 Competitor Analysis: Market position: 5 Collaborators: 6 SWOT Analysis: 7 Strengths: 7 Weaknesses: 7 Opportunities: 7 Threats: 7 Market Segmentation: 7 Lifestyle And Psychographics: 8 Demographic: 8 Geographic: 8 Behavioural: 8 Alternative . Upgrade to remove this ad. GUANGZHOU, China Chinese smartphone maker Xiaomi was the second-largest smartphone maker in the second quarter, overtaking Apple, according to analyst firm Canalys. Its popular mobile phone brands include Mi, RedMi, POCO. View, predict the probability of Xiaomi Corp's future price movements, Sponsored content. Xiaomi is earning via its network by marketing numerous goodies. According to a survey, Xiaomi sold 119 million smartphones in 2018. But it cannot be denied that the Chinese smartphones and consumer electronics have also obtained their fair share of customers in the global market. Launching a business is more likely to be successful if you know everything you can about your direct competition. Some factors like increased competitor activity, changing government policies, alternate products or services etc. Xiaomi, by comparison, still generates about 90% of its sales from China. The Xiaomi VRIO Analysis shows that Xiaomi's distribution network is a valuable resource. Xiaomi business strategy can be classified as cost leadership. [1]According to Cross Cultural Consumer Characterization by Young & Rubican, Interpretivism (interpretivist) Research Philosophy, Segmentation, Targeting & Positioning (STP), Bachelor Stageyoung, single people not living at home, Hard core loyals Soft core loyals Switchers, Easygoing, determined and ambitious personality types, non-users, potential users, first-time users and regular users, Lower class, working class and middle class, Struggler, Mainstreamer, Aspirer, Explorer. Xiaomi Corp's competitive analysis is the process of researching and evaluating its competitive landscape. Samsung held a 18% market share, with Apple making up the top three with 14%. Samsung market share was 23% with a negative annual growth of 1.6%. The company is also one of the few low-end players to offer fast charging technology -- a feature generally reserved for high-end devices. Date: November, 2016. Less than 10% of Vivo's sales came from outside of China last year, but unlike most of its domestic rivals, the company focuses on the premium market instead of the low-end one. Keywords: Xiaomi, Company Analysis, Business Model, Smartphone. The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. Xiaomi Should Fear These 3 Chinese Competitors. Xiaomi's average media sentiment score of 0.05 beat Arelik Anonim Sirketi's score of 0.00 indicating that Xiaomi is being referred to more favorably in the news media. The report also comprises discussions of Xiaomi business strategy, ecosystem and addresses issues of corporate social responsibility. Quizzes test your expertise in business and Skill tests evaluate your management traits. Necessary cookies are absolutely essential for the website to function properly. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. In simple terms, cheap costs of Xiaomi products and services is the main reason for consumers buying those products and services. Steps 2, 3, and 4: Use your competitors' websites, as well as SEO analysis tools like Ahrefs, to deep-dive into the service offerings and marketing strategies of each company. Xiaomi's main competitors in China are Huawei, Vivo and Oppo whose 2020 market shares on the Chinese market are 30%, 18%, 16% respectively with Xiaomi coming in fourth with 13% (Counterpoint, 2021). This just keeps their product portfolio increasing and their customers constantly involved in following up with the latest products that they offer. The companies are not associated with MBA Skool in any way.Edit the brand or add a new one to SWOT Analysis section : Contribute. This ensures greater revenues for Xiaomi. The following table illustrates Xiaomi segmentation, targeting and positioning: Xiaomi segmentation, targeting and positioning Xiaomi Inc. Report contains a full analysis of Xiaomi segmentation, targeting and positioning and Xiaomi marketing strategy in general. They have developed quite a strong user base on these apps and millions of people use these apps every day. can be threats. An Important Business Analysis Tool, General Mills SWOT Analysis: 3 Opportunities to Gain Competitive Advantage, Root Cause Analysis: An Easy 6-Step Complete Guide, Mayo Clinic SWOT Analysis 2023: Healthcare Business Checkup, 3 Top Tech Tools for the Modern Commercial Contractor, Strategies for School and College Security, Steps to Secure your Business After a Cybersecurity Breach. Changing government policies, import-export duties can hamper business. Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Most importantly, they take their innovation ideas by the latest trends and make sure that they are the first ones to deliver in terms of that. The mobile internet company enjoys cult-like following, the same way as its major competitor Apple. How they compare to your brand. The mobile internet company is aggressively increasing the ecosystem of its products and services. COMPETITOR ANALYSIS. Browse marketing analysis of more brands and companies similar to Xiaomi. Cendrowski, S. (2017, January 24). Samsung is founded in 1938 by Lee Byung-Chill and currently in the top . consumer electronics, semiconductors, telecommunication equipment, home appliances, automotive and many more. Competitive Analysis. Warren Buffett vs. Cathie Wood: Where Would You Rather Invest? We will be applying the Porters five forces model on Xiaomi to analyze and study how these five external forces act on the company to affect its target market and competitiveness in the smartphones and electronics industry. 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