Presentation of core marketing strategies and tactics
This is very important for Xiomi to understand the diverse market of Turkey. The culture of the Turkey is bicultural. The reason is that it is situated in Europe and Asia. Therefore, both regions have their effects and influence on the country. For the top management this is necessary to have the core marketing strategies that include the penetrating strategies, growth strategies, competitive strategies and to get the absolute advantage in market of Turkey. In addition, the core marketing strategies also includes 7 P’s of marketing and SWOT analysis for the assessment of the internal and external environment of the organization regarding the host country or market.
Two marketing objectives stated in quantitative terms
The main marketing objectives of Xiomi organization is to become the market leader and get the highest revenue from that market. The growth strategies of the organization help the business to capture the large market share. This is important for the cell phone company to provide the unique designs and innovation mobile technology. The reason is that this market has intense competition therefore, this is important to understand the marketing tactics of the competitors in the market. On the other hand, this is mandatory for the firm to assess its available resources for the successful implementation of the policies and strategies.
Description of Xiomi’s market entry strategy
The penetration strategy of the company is discount prices and then the skimming. The feasible strategy to entre in the new market for Xiomi is the joint venture. The purpose and reason to adopt this strategy is that management of Xiomi will learn a lot of things about the local market and the trends in the customers. The buying behavior of the customers is necessary so that the strategies at business level and marketing will make on the available information.
This graph is about the growth of Xiomi in overall market. This shows that the organization has potential to capture the potential customers in the new market. The smartphone market is at its high stakes. For this purpose, the growth strategy for Xiomi also includes the targeting of the different segments and areas in the market.
Target Market/Target Segment definition (Probably most important)
The most important action or the step that an organization must have to make is the targeting of the market and segmentation of the targeted market. The goal of the targeting of the new market is that the company can offers its products and services to the new market in order gain profit. The targeted market of Xiomi is Turkey. However, this is the market with diverse customers and workforce. The reason is that it is the country between two different continents. The culture and traditions of Asia and Europe is different from each other.
Therefore, Xiomi has to offer high quality and advance technology products in market. At the initial stage the targeting market of Xiomi is Turkey. The segmentation is made on the basis of the age, demographic and business class. These segments help the organization to capture the large number of the customers. The demographic and geographic segmentation will provide extra benefits for the organization. For example, the parts which attach to Asia have different strategy and the area that is near or situation in Europe has different strategy according to the nature of the customers.
Description of cellphone market segments
With increase in the technology and use of the internet, there is also change in the products and services. Cell phone is one of the unique and most useful inventions of the technology. This is important for the companies to introduce the several types of the cell phones with unique features if they are willing to work in the market of cell phone. There are many companies working in the market or the business like
These are the competitors of Xiomi also. The products include the ipad, iphones, smartphones etc that are attracting the customers at a large scale. Xiomi has to work in this market and to compete with these competitors so that it can become successful in local market and achieve its goals. Xiomi has to target one or all of the product or segments in cell phone industry.
Description of various segments buying behavior
There are number of the buying behaviors of the customers that are present in the market. Some of the customers are regular users and they hardly influence by others. Some are habitual customers and some are the influence or referral groups. These all have own characteristics and traits. Therefore, in order to capture these customers different types of the strategies require attaching the customers. At the initial step the generic strategies will feasible.
Rationale for target market selection
After the analysis of the strategies of Xiomi in China this can be said that Xiomi can able to capture the large market share. For this purpose, and according to nature of the market of Turkey, Xiomi has to keep with its existing strategies in China and to capture the Asian part of the Turk market. The reason is that they are under high influence of Asia so that the organization has high chances of success in that market.
Positioning statement and rationale
The positioning statement is just like punch for the customers that can attracts the customers. In the new market, brand imaging and product positioning is very essential step for the organization so that people can aware about the product.
Country of origin Descriptions
The Xiomi is the company of China. China is growing and emerging market in the global and international markets. Therefore, the brands of China are known all over the world. The only thing is the quality products and innovation in services and products. Therefore, this will feasible in Turkey. The parent country also effects on the business of the organization.
Marketing Mix Description
Product line to be introduced: The product must be introduced in the market, big shopping malls and vendors in the country so that the people come know about the Xiomi. Moreover, the sponsorships of local events by Xiomi will also have positive effects for launch of the new product.
Pricing strategy: Xiomi set the prices on the basis of the segmentation of the cell phone industry. The income, education and economy of the people in specific region help the marketing division to set the prices of different products of Xiomi.
Distribution: At the first step, the organization has to go for the direct selling from vendor to retailer and then to customers. This will help the organization to get the instant feedback about the product. Any kind of issue and problem can assess at the initial stage and eliminate it with more research and development.
Communication: In this era of technology, the best available resources for Xiomi are the social media and use of the internet. These are very effective to communicate the product and organization at large area without taking much time. this is also effective for online advertisement.
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