Product Launch Plan Assignment

Running Head: Product Launch Plan
PRODUCT LAUNCH PLAN
Name of the Student
Name of the University
Authors Note

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Product Launch Plan
Abstract
Not only is the phone industry expanding, but the mainstream market is also being overthrown by many
other devices, including set-top box, internet television mobile television, home wireless routers, and
mobile home appliances. Xiaomi grew to 77 subsidiaries by the end 2016. It has a significant impact on
the consumer market of all electronics. Keeping in mind the adaptable essence of innovating new
products as per the requirement and demand of the market. This report throws the light on the new
development of the Xiaomi, and it aims the production approach, MPV and Testing, Channels &
distributions, product marketing plan, Go-to-market strategy, and specific challenges faced by Xiaomi
during the launch of the new product.

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Table of Contents
Introduction....................................................................................................................................................3
Discussion......................................................................................................................................................4
Production Approach:................................................................................................................................4
MPV and Testing:......................................................................................................................................5
Channels & Distribution:...........................................................................................................................5
Organizational Impacts..............................................................................................................................6
A Go-To-Market Strategy:.........................................................................................................................8
Conclusion...................................................................................................................................................10
Reference.....................................................................................................................................................12

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Introduction
Any company’s success depends on its staying relevant. That means new `and innovative
products will keep up with the competition in this day and age. Lifecycle periods for product creation are
getting shorter and shorter to satisfy the demands and needs of the consumer. Likewise, our company had
also decided to launch a new product in the market which will be a GPS chip cum sticker. The product
will follow the New Product Development (NPD), which is a process that completes a cycle from
inception to market, which engages a product or service. New or rebranded goods and services are created
to meet customer demand or the business gap. The product development stage include idea growth,
design formation, product or service production, and marketing description. Xiaomi is a Chinese
electronic company with a very versatile nature, has adapted the change with the correct pace the market
is a demanding and ongoing process. Xiaomi technology company MI for short since its formation, MI
has sustained a stunning growth pace. In 2012, it sold 7,190,000 mobile phones, in 2013, 18,700,000 and
in 2014, 61,120,000 (Academia.edu. 2020). Not only is the phone industry rising, but the mainstream
market is also being overthrown by many other devices, including internet television, set-top box, mobile
television, home wireless routers, and mobile home appliances. Xiaomi grew to 77 subsidiaries by end
2016 (Diao et al. 2016). In the short period, MI mobile source, MI team, MI cleaners and MI pistons are
now star products. It has a massive impact on the entire electronics consuming market. The adaptability
of the company in the existing market to launch an whole new product, which is a GPS chip and a
navigation device, is taken into account. Normally the GPS is supplied to the user by a mobile device or
person or entity to track and decide the system position..
Discussion
Production Approach: The Main Challenges of Xiaomi which operate the cellular by the
installation of GPRS or SMS, satellite modem, radio in the unit, which is enhanced by the support of the

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mobile application. The position where the data is gathered can be either stored in the tracking unit or
transmitted to a mobile Internet link, which has been designed in consideration with the current market
demand, comprises of Millenials with an average age of 19 to 33 years (Bayazid 2017). The new product
will focus on specific potential customers as the generation is moving at a high pace, which is having very
calculated time. Hence, they hate when something kills their time. This issue is witnessed every single
time when they misplace their products out of the blue and finds it difficult to relocate it back. So the new
product development will help these millennials to relocate their items with brand new product GPS Chip
cum Sticker (Kim, Kim, and Choi, 2019). This chip will stick to the specific product that needs to be on
their fingertip when required, if lost or misplaced. Later, it helps the position to be viewed in real-time
against a map backdrop or using GPS monitoring tools while evaluating the track. The data tracking
application is available for GPS-enabled smartphones and can be traced back to our IOS and Android
applications.. Essentially the new "GPS Chip Cum Tracker" consists of the GPS module processing the
GPS signal and the coordinates measurement. Coordinates are stored in broad memory for data loggers.
(Academia.edu. 2020). Therefore, a GSM / GPRS / CDMA / LTE modem is used by the data pushers to
transmit the information to a central network through SMS or GPRS as IP packets. GPS-based tracking
devices like the Global Star or Iridium could operate anywhere in the world and don't require a mobile
link.. The rise for the plastic issue had left the entire world haunting for its hazardous side effects, so the
company decides to utilize all plastic waste and transform this issue into a reusable option. The GPS
module will be embedded into a small plastic card and will be fully covered under plastic, which makes
the chip water-resistant and can be used at any weather condition (Mourtzis, Doukas, and Vandera 2017).
MPV and Testing: About 70 percent of the new product will not demonstrate a positive
reaction. There are several reasons for this, from the marketing team’s disharmony to a lack of product-
market readiness. And what’s more, never is there a single explanation of why a company fails. Some
reasons for the loss of a organization and a couple of them are: no business demand, no cash demand,
expense or prices, a product without consumer friendliness, bad marketing, Ignores consumers, lack of

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ambition, legal problems, inability to travel, burnout, many more. (Singh et al. 2016). These issues must
be rectified before any launch of the product in the market because if specific aspects arise after the
launch of a new product enhance the possibility of occurring particular problems. An MVP’s idea is to get
user input before the final product is created. Feedback helps avoid fault, which is useful for new product
development. If a business decides to launch some product, MVP must be practiced. A bare-bones design
is a minimum viable product. It is then tested to see if the product can compete on the market (Bayazid
2019). The “GPS Chip cum Sticker” in the beta version will be circulated in the market to the potential
shortlisted customers so that they can use the product and test them if the chip requires any further up-
gradation. This testing product before the final launch is meant to ensure to cover all the loopholes. If any
problem is experienced at any point, the issue will be reported to the company’s quality check analyst,
and the required action for the correction will be taken to make sure the same issue is never reported
again (Xu et al. 2016). Also, an MVP helps to gain early data, which confirms the interest of users in the
product. Positive results during the MVP process give the green light for the full version to create. When
designing and reviewing a Minimum Viable Product, one can save time and money when making sure
that you invest in a project that is likely to be popular. Check if the product appeals to potential
customers. Find out what patterns you can take advantage of before producing the complete version of the
product.
Channels & Distribution: New distribution channel is tested or marketing management
networks enhanced at any time. Launching a new product or looking for ways to develop further business
in a consumer market aggressively, it is crucial to contemplate the distribution channel (Pee 2016). The
distribution plan for the new “GPS Chip Cum Sticker” device includes the information and support that
the prospects need. Consider: When and where to purchase for and consumer group, whether they need
tailored education and training, whether they need additional goods or services to be combined with it,
whether the product needs to be modified or rebuilt, whether the product needs to be serviced and many
more. When the organization uses several networks, the price for each move in the process must be

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carefully worked out, and a fair benefit for each form of partner included (Dawood and Brooks 2018).
Comparing the price afford by end-user; if a consumer buys from one platform at a lower cost compared
to another, then the partners might question rightly. Pricing friction is genuine and can jeopardize the
whole plan, equally it is essential for both customers as well as the company to do the best to chart the
price at every stage and find the best possible solution. Xiaomi is a Chinese company, so products are
first visioned to capture the Chinese market (Kalmykova, Sadagopan, and Rosado 2018). The company is
developing a warehouse to stack up the product for dispatching and meeting the market requirement.
Organizational Impacts: Xiaomi being an electronic company heading the market with its
versatile nature. Customers come with much more expectation of technology-driven and launching a
product that meets the exact demands of the present customers. It aims to attract all new customers as the
product is designed in such a way that all interest and requirements are considered while developing a
product (Charter and Tischner 2017). This new product that will come to the market will gain popularity
in no time and add profitability in the company because actual making cost of the product is minimal only
the expense of the tracking system, and the software is to be considered. It is much more than the
expense the rate of return is enhanced.
Product Marketing Plan: The product will be launched in Chinese market prior to the launch specific
testing will be followed with any necessary updates if required to ensure the effectiveness and customer
believe concerning the newly launched product. The Marketing Mix of Xiaomi considers the 4Pand the
strategy for Xiaomi Marketing (Bhatnagar 2019). It elaborates on the company’s methods for pricing,
advertisement & delivery.
Product: Xiaomi is one of the fastest growing Chinese consumer electronics companies to identify the
product selection and quality of the program. It started as a brand for smartphones but now sells a wide
range of electronic consumer goods.The items in Xiaomi’s range are:
• TV

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• Notebooks
• Smart devices
• Power bank and charging devices
• Speakers and headphones
• Drones
Xiaomi’s leading sellers are its MI and RedMi model lines smartphones (Bieliński 2016The key source of
the goods in the case pending with Ericsson is Qualcomm processors in India and Great Britain, including
the use of non-Qualcomm devices in India and Great Britain. It also tailored the products to the needs of
the region in which they work in order to accommodate local buyers and political conditions. It indicates
the substantial product range Xiaomi holds in its marketing mix strategy.
Price: Xiaomi sells at affordable prices, and provides items of high quality. The key aim is to market the
items without profiting from the quality of the commodity. So the Xiaomi strategy recently sells at a low
cost and then gains an edge.The focus on profit generation is on the devices, software, and services to be
used with the products (Xu et al. 2016). A modern product combination targeting strategy to gain a large
market share. The price policy of Xiaomi has helped the company grow into a competitive market and has
a wide market share. Initially, it began to enter the market with low-mobile phones. Now, Xiaomi has also
slowly developed itself as a leading Smartphone player worldwide.
Place: In China, Japan, India, United Kingdom, and 27 other countries, Xiaomi operates mainly in
emerging markets in Southeast Asia. It has a big presence for all of these nations, but major migration
comes from China (Yeo et al. 2020Xiaomi sells mostly in online, but has expanded in some developing
markets, where retail stores offer their products. It operates digitally through websites and internet
channels in different parts of the world. 8899 Mi Home Shops are planned worldwide. In 560 countries
around the world, Xiaomi runs 5552 Mi support centers.

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Promotion: Xiaomi marketed its goods by selling premium specs to customers that can not afford
premium-specific devices to Xiaomi competitors with technical experience at a cheaper price.Through
developing a solid follow-up around its custom operating system, the market is distinguished. The unique
initiative of Xiaomi in which loyal Xiaomi fans lead the product development in every phase. Most
Xiaomi staff are now former faithful supporters who have joined the product marketing team. Thus, in
Southeast Asian nations, Xiaomi ensures a pull strategy rather than a drive strategy of products (Charter
and Tischner 2017). Xiaomi enhanced the use of social media, as well as word of mouth, in a better way.
It supported microblogging websites and social networking websites such as Facebook and Twitter.
Sometimes they schedule flash sales, which pressured the public to purchase them as a result of their
desperation. It caused a shock to the client, and in 6 minutes some products were reportedly sold. This
form of marketing moved Xiaomi sales forward. Xiaomi's social media approach also includes Weibo
pages for all product line in China and Facebook, among other markets (Han and Cho 2016Xiaomi
organizes fanfilms and social activities as well, such as Harley Davidson's concept of attempting to
establish cult following the goods of Xiaomi.
A Go-To-Market Strategy: A sustainable business depends on a variety of elements that function
in harmony. A Go-to-Market (GTM) strategy is one such example. One part of your overall marketing
plan should be a GTM Plan. An effective plan for marketing includes analyzing several variables,
including cost, distribution channels, and specific sales proposals. Effective go-to-market strategies give
companies several benefits and competitive advantages (Kshetri, 2017). The go-to-market approach not
only shortens time to market but also helps companies expand and evolve while reducing costs.
Accordingly, the organization has assembled a seven-step plan that helps to execute a go-to-market
strategy framework when writing it. By following these seven steps, a discernable action plan can be
drawn up, which will lead to a successful launch of the product. It includes:
 Define the market: If target markets are not established, it is hard to formulate an effective go-to-
market strategy. Start by looking at the ideal consumer base when launching a new product.

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Segmentation of the marketing is essential since few items are appropriate for all groups of people
(Li and Heupel 2019). It should consider, along with age and demographic considerations,
consumer personas, where consumers are based, what jobs they hold, and what their purchasing
power is. Next, assess whether or not those consumers are already part of the future customer base
or have yet to meet them. When new consumers are to be found, it will also decide which
techniques the business can use for lead generation
 Determine the value proposition: Company value proposition, also known as the company’s
unique selling proposition, is what the company aims to give to its customers. To find the value
proposition, begin by evaluating the product or service’s most significant benefits. When the
recognition of the specific product advantages is completed, assess the potential solutions that
target consumers are provided by those advantages (Tan and Zhan 2017). The goal is to think like
the consumer when determining the value proposition. When it is easy to find out how consumers
use the goods to fulfill their needs and coordinate marketing strategies accordingly. A company
enables a clear value proposition and start setting the pricing strategy. The pricing approach is
based on the prospective client base and market penetration goals. Methods that can be used in
drawing up a pricing plan include subscription-based price-based skimming.
 Discuss the channels: Strategy is none to hit an ideal marketplace; it doesn’t matter how
tremendous the product is. Appropriate marketing platforms need to be selected. Marketing
networks are the areas where goods are marketed and sold (Ilmolahti, 2016). When a target is set
in the market, it defines the places where the community likes to shop around. For instance: Retail
shops, trade shows and the internet marketplace.
 Consider external marketing. External marketing makes consumers more likely to hear about
the product. Need to print online advertising starts gaining publicity for the new product. External
marketing undoubtedly represents a substantial amount of go-to-market strategy in addition to
market analysis of the company.

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 Support the customers: One of the most severe mistakes that company owners create when they
deliver a new product or service is not being there for customers. Support staff should be prepared
for an increase in demand before product launch (TIAN 2018). Customer request for
troubleshooting or an improvement in web traffic, the company might expect higher volumes in
the weeks after a new product or service is introduced.
 Evaluate success: Before the launch of the product, the Go-to-market plan targets assessing the
performance more effectively down the road. The initial step company takes by evaluating its
success through market research like: Would you like to approach early adopters? Is its aim to
achieve a given amount of sales? To keep the sales team on track and improve the chances of
success, it must be transparent and precise (Shujie 2017). A productive firm seeks various ways to
position its products in the hands of its target audiences.
This complex go-to-market strategy increases the probability of success when a new product or
service is added to a business model. A good product marketing campaign will offer the company an
inflow of cash. Reliable financial software should be needed to keep track of company income and
expenditures.
Conclusion
 Xiaomi’s Key Challenges that run the cellular by installing GPRS or SMS, satellite modem,
radio in the device that is supported by mobile application support.
 The companies might face certain legal challenges while developing the new product that is
the GPS chip cum navigation system.
 The biggest challenge is to deliver the reliability of the product, whether the customer will be
satisfied or not.
And other challenges faced by the company include pricing or Cost issue, poor company, company
without a business plan, weak marketing, dissimilarity between employees and investors, and many

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more. These issues must be rectified before any launch of the product in the market because if specific
issues arise after the launch of a new product enhances the possibility of arising certain problems.

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