Haier's Marketing Strategies and Competitive Advantage

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Marketing Individual Structured Portfolio
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Contents
Introduction......................................................................................................................................3
Task 1...............................................................................................................................................4
Task 2...............................................................................................................................................7
Task 3.............................................................................................................................................10
Conclusion.....................................................................................................................................14
References......................................................................................................................................15
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Introduction
This report highlights the importance of marketing of products in order to expand the growth of
the business more in international marketing. Marketing is the most important function of any
business as it allows the company to build more customers in the company and also to enhance
the sales of the business. This report shows the various marketing strategies of the company
Haier. Haier is a multinational company which establishes in the country China. The company is
mainly focused on its electronic products which they deliver across the world. This company
mainly operates electronic products like mobile phones, refrigerators, and televisions. This
company was started in the year 1984 in the country China (Juan, 2013). The main aim of the
company is to expand its business more in the developing countries and also to satisfy the needs
of their customers in order to enhance the customer retention rate of the organization.
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Task 1
Haier is introducing new marketing strategies in order to build more customers in the company.
The company is operating its business in many other countries in order to establish a big name in
the international market. It is essential for the company to develop more marketing strategies,
this will assess the company in increasing brand awareness of the company in the minds of the
people. The company needs to examine the marketing conditions before adopting any marketing
strategy. This will assess the company in implementing the right marketing strategy which will
enhance the growth of the company and also build a bigger customer base (Ottman, 2017).
Haier is using various marketing strategy at present in order to attract more customers and to
increase the sales of the company. Currently, the company is using various marketing strategies
which are as follows:
Special Marketing team
The company has hired special marketing which promotes the product and services of the
company in the market. The only work of this team is to promote the products and services of the
company in many ways. This team analyze the marketing conditions and promotes the company
brand via offline and online. This strategy not only increase the sales of the company but the
company will be able to expand its business in the international market. As the company is
appointing a special marketing team to endorse their brand, there are many benefits of such a
strategy which are mention below:
 The marketing team will examine the needs of the customers and target the customers
based on their requirements.
 The marketing team will implement various promoting strategies in order to promote the
services of the company.
 This team can bring lots of innovations and creativity in their marketing strategies which
will attract more customers (Winston and Mintu-Wimsatt, 2013).
 This team can accept marketing changes easily and can implement new strategies in order
to overcome such marketing changes.
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With the evolution of technology and an increase in the use of electronic devices such as a
mobile phone, there is an increase in competition in the market as well. The biggest competitor
of the company is Haier is the Apple Company. Apple is giving tough competition to the Haier
Company as this company is using innovative strategies in order to increase their market share
and also to target more customers.
Apple Company issuing various marketing strategies in order to expand their business more in
developing countries. The current marketing strategy adopted by the company is targeting the
young generation. Apple Company is targeting the young generation as its top customers in order
to attract those customers. This strategy is working for the company as the company's marketing
value is increasing daily. Apple Company is known for its innovation and the latest features they
offer to their consumers in their electronic devices. Young people are the one who easily gets
attracted to the latest and advanced features. Apple Company is using these tactics and targeting
young people more. This has allowed the company to build more customers in their stores and
boosting its sales (Pappas, 2016).
The marketing strategy of the company is quite different from the marketing strategy of the
company Haier but both the company can attract new customers and enhancing their growth in
the market. As there is immense competition in the market, it is essential for the company Haier
to introduce more marketing strategy in order to gain a competitive advantage in the market. For
the future growth of the company and to gain a competitive advantage in the market, Haier
Company can identify their preferred customers by examining their demographic variables,
behavioral variables and geographical. By examine such variable company will be able to
identify the basic knowledge about their customers like their age, income, gender, education,
country, their lifestyle and their attitude. By examining all such things will assess the company in
order to target their customers. By targeting a fix customers will assess the company in building
more customers at the company at a short period. The company can target such customers by
analyzing the features of their products and also to analyze the attitude and lifestyle of the
people. This will assess the company in its future growth and enhance develop the company
more in the international market (Buil, et. al., 2013).
The Company can also use the marketing strategy of extended marketing mix elements in of=der
to enhance the growth of the business more. This strategy will allow the company to analyze the
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various aspects of the company and also give a platform where the company can build its empire
more in the international market. The company can examine the 7 P's of the company which is as
follows:
Product- Product is the most important function of any company. It is important for the
company to launch those products in the market which will fulfill the needs of the customers.
Haier Company manufactures mainly electronics products like mobile phones, refrigerators, and
televisions.
Price- It is the second element of this strategy. It is very important for the company to decide the
price of their products. The company can decide the price of their product by analyzing the
marketing condition and examining the manufacturing cost of that particular product.
People- In order to enhance the growth of the company, it is important for the Haier to target
preferable consumers for the market. The company needs to analyze the marketing and
consumers need and target such people according to the feature of their products (Noe, et. al.,
2017).
Promotion- This is the most important aspect for the success of any business. It is important for
the company Haier to promote their new products and services in the market in order to attract
new customers and to enhance the sales of the company.
Place- It determines such places where the company can sell their products to their customers.
This places can be offline stores and online market. The company can launch their products on
online sites and also provide their products on the offline stores so that more customers will be
able to purchase products of the company.
Process- It is that procedure through which the company can provide their services to their
customers.
Physical evidence- It is that evidence which confirms that the customers are successfully
received the services of the company. It is important for the company Haier to save the data of
their customers which will be useful in the future.
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Task 2
Haier Company can also implement various other strategies in order to enhance their business
more in the international market. The company can implement Ansoff’s Matrix frame so that the
company will be able to build more consumers in their stores which will generate more profits.
Ansoff's Matrix frame is a marketing strategy tool which asses the company Haier in establishing
an effective marketing strategy in the market. This marketing tool was established by Igor
Ansoff in order to develop the business more. Ansoff suggested that there are two ways to
enhance the productivity of the company which is to examine the market growth and to examine
the product growth. This way the company can determine the targeting audience and also the
products which are getting more customers in the market (Gianos, 2013).
This model delivers four strategic option which will allow the company Haier to overcome the
various risks associated with selling the product in the market and to enhance the growth of the
business more in the country.
The first strategic option which is provided by this model is the strategy of lower risk. Haier
Company can sell its existing products in the existing market. This will allow the company to
take low risks which selling their products in the existing market. This strategy is also known by
the term market penetration. In this strategy, the company already know about their customers
and can sell products to those customers at a low level of risk. This strategy only works when the
market is growing at a rapid pace or the organization can cut down the price of their products
(Hussain, et. al., 2013).
The second strategic developed by Ansoff's matrix frame is that the company Haier can develop
new products in the existing markets in order to attract new customers. The company can launch
new products with the latest features and technologies which will attract new customers in the
existing market. This will allow the company to enhance the sales of the company more. This
strategy is also known as a product development strategy and there is a higher risk as compared
to the first strategic option. In this strategy, the organization can promote their new products in
the market which will attract more customers and enhance the growth of the company. The
company can examine the needs of the customers carefully and according to that develop new
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products win the market which will fulfill all the requirements of the customer. This strategy will
assess the company in attracting new customers its rapid pace.
The third strategy of this model involves the selling of an existing product in the new market.
With the help of such strategy, Haier can sell their existing products in the new market which
will allow the company to attract new customers of that market. This strategy is also known as a
Market development strategy. This strategy is riskier then the strategy of market penetration as
the company have to take a risk in launching their product in the new market as there is a high
possibility that the company will face various issues while selling their products in the new
market. The company needs to determine the place carefully before launching their product in
that market. It is essential for the company to promote their brand in the new market so that the
company will be able to spread the brand awareness about the company in the minds of the
people (Gianos, 2013).
The fourth strategy of this model is known by the term Diversification. In this strategy, the
company can launch new products in the new market. This will allow the company to build more
customers at a rapid pace. This is the riskiest strategy as compared to all the other strategies. As
the company is launching a new product in the new market, it is important for the company to
analyze the marketing condition of the market first and after that examine all the consumer's
needs so that the company can target their customers in the new market. This is the riskiest
strategy but can produce more profits for the company (Gianos, 2013).
Haier Company can implement this model in order to implement various marketing planning
process. With the help of such strategies, the company can identify the various needs of the
customers and also implement various tactics in order to gain a competitive advantage in the
market.
Suggestions
Haier Company can use other strategies in order to enhance their growth in the future and also to
expand its business in the international market. In order to expand their business more in the
international market, it is essential for the company to promote their product on the international
level. This will allow the company to attract more customers to ta the international level and the
company will be able to expand its business in the international market successfully. It is
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suggested to the company to use these marketing strategies to build more consumers. These
strategies are mention below:
Using the platform of social media
The company can use this strategy in order to attract more customers at the international level.
By promoting the products and the services of the company at social media like on Facebook and
Instagram, the company can be able to increase their online market but also attract more
customers. Most of the population is using social media and it is a good strategy for the company
to attract more customer at the international level (Hussain, et. al., 2013).
Developing a lead magnet
The company can use this strategy in order to enhance the sales of the company more. In this
strategy, the company can determine the problems of the customers of their rivals and can
provide a solution to those customers. This will allow the company to attract the customer of its
competitors.
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Task 3
The marketing campaign is a procedure through which the company Haier can communicate
with their customers in order to regain the positioning of the company in the market and also to
regain their previous customers. As the company is using various marketing strategies in order to
establish their brand name in the market, it is important for the organization to develop many
strategies like product positioning and competitive positioning to acquire a market campaign.
The main purpose of the marketing campaign is to spread awareness about the company's
products and services more in the minds of the people (Tiago, et. al., 2016).
The company can analyze the results of their marketing strategies and can develop a marketing
campaign in order to spread brand awareness in the minds of the people. Haier Company can
create their marketing campaign with the help of following steps. These steps are mention below:
 The first thing a company needs to do is to identify the various issues which are going on
in the company and implement various plans in order to solve these issues. His will
enhance the productivity of the company more.
 After solving all the issues, Haier needs to set the goals for the company and also to their
employees. This will encourage their employee to put more extra efforts in order to
accomplish the goals of the company. Setting the goals for the company will allow the
company to implement more innovative strategies in achieving those goals.
 The company needs to do more survey in order to determine the needs of the customers
and also the customer's perception of the company's services and products. This will
allow the organization to improve their products if they are receiving any negative
feedback from their customers.
 The company Haier need to examine its competitors well and also examine the products
and the strategies they are using in order to attract customers. This will allow the
company to examine implement more innovative strategies to gain a competitive
advantage in the market.
 Haier needs to promote their services on the platform of social media and also advertise
their products and services by implementing various strategies (Muzi and Wong, 2014).
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 These tactics will allow the company to build more customers in the organization and the
company will be able to spread more awareness about the company's products and
services in the minds of the people.
In order to implement such a marketing campaign, Haier Company can follow these steps in
order to successfully implement a plan for a marketing campaign. There are many advantages of
implementing a marketing plan as it will solve the various issue of the company (Wang and
Feng, 2013). On the basis of their objectives and goals, Haier Company can implement a
marketing plan
The marketing campaign plan is given below:
Activities Start date End date Duration
Identification of
issues
1-June-2019 5-June-2019 5 days
Solving the issues
and setting the goals
6-June-2019 13-June-2019 8 days
Examining the needs
of the customers
14-June-2019 20-June-2019 7 days
Analyze the
competitor's strategy
21-June-2019 23-June-2019 3 days
Promotion 24-June-2019 28-June-2019 5 days
Spreading Brand’s
awareness
29-June-2019 30-June-2019 2 days
Gantt chart
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This is the implementation plan through which the company Haier can implement a marketing
campaign in the company. This plan will allow the company to analyze the time duration which
will consume in order to implement a marketing campaign in the country. This marketing
campaign will allow the company Haier to improve the marketing strategies in the company.
Haier Company needs to analyze all the marketing strategies of the marketing campaign in order
to improve all the marketing strategy of the organization (De Mooij, 2018). This marketing plan
will allow the company to attract more customers in a short period of time and the company will
be able to expand their business more in the international market. Haier Company also needs to
implement other strategies in order to gain a competitive advantage in the market. This will
allow the company to expand their business more in the international market and the
organization will be able to spread more awareness about the brand's image in the minds of the
people. With the support of proper promotion and advertisements, Haier Company can establish
their business at the international level.
There are other benefits of a marketing campaign which are increasing the loyalty of the
customers towards the company and the company will be able to enhance the customer retention
rate of the organization. It will spread a good message of the company in the minds of the people
and encourage the customers more in purchasing the products of the company. This strategy will
generate more profits of the organization and the company will be able to accomplish all their
goals and objectives which the managers and the leaders have set for the growth of the business.
The organization can also enhance their production by motivating the employees. Haier
Company can provide various benefits to their employees which will encourage the employees to
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