Marketing Mix of China's Haier in the US
With the process of globalization, many transnational companies have been searching for their target market in other countries all over the world. Through the introduction of successful experiences of china's Haier in the US market, the article tries to reveal some key elements in marketing strategy. Moreover, the article concentrates on analyzing specific aspects of marketing mix, including product, pricing, communication, and distribution. After reading this article, reader will understand that what kind role every aspect in marketing mix will exert and how marketing mix will influence customers' behaviour and what kind combination of marketing mix will be more effective. All answers of these questions are useful and helpful for the companies who want to successfully enter into other countries' market.
1 Haier's global marketing strategy
"Marketing strategy is the marketing logic by which the business unit expects to achieve its marketing objectives.
Marketing strategy consist of making decisions on the business's expenditures, marketing mix, and marketing allocations in relation to expected environmental and competitive conditions" (Fifield, P 1992). The goal of Haier's GMS is to become world brand name.
1.1 Haier's background
Haier is a super-large Chinese enterprise founded in 1984 that started out as the Qingdao Refrigerator Factory. Haier is the largest refrigerator manufacturer in China. Haier has actively engaged in technical innovation, capital operations and multinational expansion. From 1998, Haier began to become a multinational company with the aim of building an international brand name. Haier now has 62 distributors and more than 30,000 outlets around the world. The company's target is to enter the top 500 list of Fortune magazine.
1.2 Haier's target market
Haier always concentrates refrigerator industry as its main market segmentation even though Haier has involved many new industries such...