The Chinese Multinational consumer electronics & home appliances company was established in 1984. The company sells the large array of electronics products and white goods such as mobile phones and computers, kitchen appliances, home appliances.
Haier had the world’s largest market share in the white goods category from last consecutive 6 years till 2017. The Haier group also operate with the brand such as Casarte, Leader, RRS.com, AQUA and Fisher & Paykel.
Segmentation, targeting, positioning in the Marketing strategy of Haier–
Segmentation variables such as those of demographic (Age, Gender, Income, social class etc), Geographic Variables (Region, city, country, climate) and psychographic variables such as lifestyle and personality attributes; are being used by the company to segregate the population based on these similar characteristics.
Marketing mix – Here is the Marketing mix of Haier.
Mission- “To be the leader in the industry and users’ first choice, as well as the first competitive solution provider for good life”
Vision- “To To be the leader in the industry and users’ first choice, as well as the first competitive solution provider for good life”
Competitive advantage in the Marketing strategy of Haier–
1. Extensive presence:
One of the most critical factors in the consumer goods is making the products available globally and Haier harnessed the opportunity by being available across all the emerging & developed nations.
2. Integrated supply chain:
The Company has in-house logistics vertical which supports the business and ensures timely distribution of the products and effective & efficient marketing of the products of the company.
BCG Matrix in the Marketing strategy of Haier-
The company operates in the business segments such as white goods which deals with home appliances and other electronic items and Logistics vertical which helps the company with services such as “front-end first-mile” pick-up, installation, repair, transportation, truck-loading, warehousing, and “last mile” interaction.
Both operating segments of the company are starring in the BCG matrix.
Distribution strategy in the Marketing strategy of Haier–
The Company distributes its offerings with the help of more than 60000 employees and distributors across the globe.
The Company have 5 R&D centers, 21 industrial parks, and 66 trading companies worldwide to support the mainstream business.
Brand equity in the Marketing strategy of Haier–
The brand has been ranked 730 in Forbes magazine list of global 2000 Companies and 352 in Forbes list of World’s Best Employers. The brand has been valued at $ 10.6 billion as of May 2017 (market capitalization value method) generating revenue of $ 16.99 billion.
It has been top-ranked by number of Companies, ranked number one in the list of Global brand share published by Euromonitor, also US World Brand Lab has ranked it 50 in the list of top 500 brands.
Competitive analysis in the Marketing strategy of Haier-
Most of the companies operating in the consumer goods and home appliances market competes based on product portfolio, availability in the market, price, design, innovative and technologically advanced products, easy to use, safe and good aesthetic look.
Market analysis in the Marketing strategy of Haier-
Increase in alternatives, increase in bargaining power of customers, Customers perception of cheap Chinese brand, Supply-side dominance, changing the lifestyle of people, the low lifecycle of technological products, automation in the industry, increasing purchasing power parity, decreasing margins are some of the factors affecting the companies operating in the industry.
Due to saturation in the developed nation’s companies are looking for market expansion through emerging economies by introducing innovative products.
Customer analysis in the Marketing strategy of Haier–
Customers of Haier are distributors, corporate companies, resellers, and government organizations across various industries.
In the retail segment, the customers of the brand are in the age group of 20-40 years majority of which in the mid-age or are newly married and wants to have white goods in their home.