This business proposal aims to expand Xiaomi's business in Ghana and achieve market share growth, increased customer base, and profitability. It includes segmentation, targeting, and positioning strategies, marketing mix analysis, SWOT analysis, market entering strategies, and a conclusion.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Assessment 3 Business Proposal
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of contents Introduction Aim and objectives Segmentation, Targeting and Positioning Marketing Mix SWOT analysis of Xiaomi Market entering strategies Conclusion References
Introduction The business proposal basically refers to the formal document which comprises of the products or services which will persuade the company to buy the proposed products and services. This can be of any form that the purchasing company can actively look out for the product to meet with the needs.
Aim and Objectives Aim The main aim of this proposal is that the company Xiaomi which is multinational Chinese electronic company wants to expand the business in the nation called Ghana. Objectives The objectives of this business proposal are: To grow and expand the business and attain a market share within 1 year. To increase the customer base by 15% within a year. To increment the profitability of the company in year 1 by 10%. To provide a wide range of mobile phone in a year.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Segmentation, Targeting and Positioning Segmentation It involves bifurcating the population into various groups of similar characteristics as per the requirement of the customers. Xiaomi has segmented its products based upon the geographic, demographic, behavioral and psychographic. Targeting The company targets the customer based upon the segmentation dome. It involves targeting the customers on the basis of size, money and the various other benefits. Positioning It refers to the setting the products of the company in the mind of the customers in such a way that helps in distinguishing it from the competitors.
Marketing Mix Product It mainly concentrates on the hardware, software and the internet services. It has a wider range of products within the market like the laptops, smart phones, power bank, watch and so forth. Place The company is headquartered in Beijing, China and is also having regional offices all across the world like India, Brazil etc. it has established it mobile internet in almost 70 nations and among them in 16 markets it is placed in the top 5.
Continue… Price Xiaomi is using effecting pricing strategy which helps in setting the price of its products at low along with minimizing the cost of promotion. Pertaining to it, Xiaomi flash sales is an important part, which is for the shorter term and makes more sales by lowering the profit margin. Promotion The most important promotion technique used by Xiaomi is flash sales which remains for a shorter term. The organization uses the different promotional tool such as social networking sites, involving into trade fare and conferences and also involves personal selling.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Continue… People The staff working in Xiaomi are very effective which helps in promoting and maintain a good relation with the customers, vendors and also workers working within the stores are highly trained and motivated which helps in effectively accomplishing the goals. Process The organization has ensured that the products are being available at the retail stores and a system is being introduced which assists the retailers in knowing the inventory of the products so that it can place timely delivery of the products.
Continue… Physical Evidence The packaging and the logo of the company is easily identifiable at the retail stores and it has online website which provides a proof of its physical evidence.
SWOT analysis of Xiaomi Strengths:Range of phones at affordable prices makes it competitive which is its keys strength in the market. This helps in attracting larger customer base. Weaknesses:The products are China are considered to be inferior which makes it difficult for the company and also brand perception is weak. Opportunities:The rise in GDP increases the disposable income of people which results into growing electronics market gradually. Threats:There is an intense competition in the market because of the existence of large firms.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
CONCLUSION It can be stated from the above that there are number of things which are required to be accounted for before expanding the business. Also, there are various market entering strategies but direct exporting is considered to be right for Xiaomi.
REFERENCES Yuliantine, T., Indasah, I., & Siyoto, S. (2018). Analysis of marketing mix characteristics of marketing factor 7P (Product, Price, Place, Promotion, People, Process, Physical Building) to patient satisfaction of inpatient patient hospital Muhammadiyah Ahmad Dahlan Kediri City.Journal for Quality in Public Health. 1(2). 50-57. Gürel,E.,&Tat,M.(2017).SWOTanalysis:atheoreticalreview.JournalofInternationalSocial Research. 10(51). Reková,E.(2018).MarketingStrategiesof“BornGlobals”CompanieswhenEnteringtheForeign Market.Trends Economics and Management. 12(31). 87-100. Camilleri, M. A. (2018). Market segmentation, targeting and positioning. InTravel marketing, tourism economics and the airline product(pp. 69-83). Springer, Cham.