An Integrated Marketing Strategy for Xiaomi Brand - Essay Example

Download file to see previous pages Xiaomi is a China-based company, which manufactures smartphones. The company is relatively new, as it was established in 2010 (Loehnis, 2014). However, despite its “young age”, Xiaomi is already recognized to be one of the most exciting and fast-growing start-ups in China. Within a three-year period of its existence, the company has sold more than 20 million phones a year and expanded its business into Asian markets, including Indian and Indonesian markets (Loehnis, 2014; Cook, 2015). Despite its great potential and high quality but affordable smartphones, the company has not yet entered non-Asian markets (Cook, 2015). The aim of this paper is to develop an integrated marketing strategy for a Chinese company Xiaomi in order to build the overall image of the company in the international arena, with a specific focus on the Russian market (Ogden & Ogden, 2014). This strategy will utilize a combination of both traditional and digital marketing tools.
The company is the fastest-growing smartphone vendor in China (Xiaomi prefers WOM to advertise, 2014). The company offers a great balance of quality and price of its products, making smartphones available and affordable for a greater number of people (Cook, 2015). Due to these characteristics, the company is perceived to be “a hero for a generation of young Chinese” (Loehnis, 2014, n.p.). Thus, the company’s brand image should reflect the high quality of its smartphones but on the other hand, reinforce the affordability factor as well. A combination of these two aspects makes the brand especially attractive in contrast to such giants as Apple, Samsung, Nokia, and BlackBerry (Loehnis, 2014).
The company’s target market is the youth market living in Russia. Consumers of both sexes aged between 12-18 years old comprise the major demographic target audience of Xiaomi products. This specific category of people is willing to pay lower prices for Android smartphones but also to have a high-quality modern device (Cook, 2015). In terms of psychographics, this target market shares similar attitudes, values, and lifestyles as other teenagers in Europe or in the UK. They are tech-savvy; they spend a lot of time on social networks, listen to music and video, play games, etc. This target audience wants to have a cool smartphone like Apple, but it has limited budgets. ...Download file to see next pagesRead More