The good investment can get good brand image and it will help the brand to get more revenue over the sale of their products and appliances. The success of Haier in such niche markets has allowed its brand name to become well known, which encouraged the company to target the higher-end full size refrigerator market in the United States.
For international markets, Haier has adopted a unique strategy to penetrate difficult markets such as the United States and Europe. Though cultural diversity in the companies could represent a challenge, but if well dealt with it could present an opportunity rather than a restriction.
By the company had over 50, worldwide employees. Australia, South America, and Russia should be considered as well. Although Haier claims a quick-to-market philosophy, electronics is Haier global strategy more intense than appliances.
The company and its customers also took pride in the ability of the Haier brand to successfully compete with more established international competitors. The company has maintained their online business of the products and it appreciates the provision of products online for the clients.
Unlike some Chinese enterprises pursuing short-term gains as international manufacturing factories in overseas markets, Haier, since the beginning of its international expansion, has formulated a "Brand Building" strategy with a commitment to offering the product quality, technical specification and after-sale service of the highest standards to overseas customers under its own brand.
When the sale of the products will be enhanced, the company will generate more profit from their dealings.
Haier rode the wave of its strong domestic brand to enter new markets and expand into a fast growing multinational corporation. In the price of the products, the manufacturing cost, labor cost other technical expenses and the government levied taxes are also included in the total expenses of the products.
Throughout the s, the company realized its vision, and made multiple acquisitions to diversify its product portfolio and the company brand quickly become ubiquitous throughout China. Below we will check the factors that determinate the major criteria in the process of the selection of foreign market entry mode.
Haier has since undertaken similar initiatives in other markets such as the European Union and the Middle East. Underutilized facilities suggests Haier needs to increase exports in order to achieve economies of scale.
Capitalizing on its new management and brand, Haier transformed itself into the second largest home appliance company in the world, and the number one such company in China.
When it first entered the market in the United States, it identified two potentially lucrative yet underdeveloped niche markets — that of small sized refrigerators for dorm rooms, hotels, and the like; and electric wine cellars.
The intensifying domestic market with savvy customers, evolving domestic firms presumably some state fundedand presence of foreign MNCs pressures Haier to continuously improve, diversify and look overseas.
Its products are available in twelve of the top fifteen chain stores in Europe and in ten of the leading chain stores in the United States. The culture of the collective-owned enterprise allowed for a highly unmotivated work force.
Continuation of the brown goods operations allows for revenue and brand awareness. And the establishment of the manufacturing plant in the US enables Haier to meet with the consumer habits and market demand in a prompt manner which helps create leadership advantage.
Safe Care monitors wiring and electrical components of the appliance and gives a warning should any electricity leakage pose a risk to the consumer. Transform to a matrix structure with center of expertise by the end 3.
The Chinese government plays a key role in business.Competing with the global giants, Haier’s strategy mainly concentrates on their constant efforts towards internationalisation.
In the past decades China was an insignificant player in international business. Brand equity in the Marketing strategy of Haier–. The brand has been ranked in Forbes magazine list of global Companies and in Forbes list of World’s Best Employers. The brand has been valued at $ billion as of May (market capitalization value method) generating revenue of.
With its position in China profitable and secure, Haier embarked on a global branding strategy. This strategy aims to position the company as a local brand in different world markets in conjunction with enhanced product competitiveness and strong corporate operations.
During the “internationalization strategy” stage (–) Haier aggressively pursued global efforts to create a global brand name.
By Haier was the #5 white goods producer worldwide with 95% of its products branded as “Haier”. Marketing Plan of Haier. by Haseeb | Mar 9, | Marketing, global brand building strategy, domestic brand building strategy and globalization strategy to increase the image of the brand.
The brand has prepared the major and minor products and appliances and these are perfect for the middle class, upper class people. Upon entering the "Global Brand Strategy" stage, Haier accelerated the development of overseas markets into the fast lane.
During this stage, Haier has gradually built up its marketing network, R&D and manufacture bases in overseas markets totally relying on the power of its own brand.Download