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Xiaomi’s secret success recipe


Xiaomi’s secret success recipe

Xiaomi has managed to achieve its milestone in the telecommunication industry within three years. It has managed to create its strong position in Asia especially in countries like Pakistan, India and Indonesia. It is giving a very tough competition to existing brands like Samsung, Apple, Nokia, HTC etc.

So what exactly is the secret recipe that Xiaomi is using to create its position across the globe? Xiaomi is a perfect example to highlight the concept of social commerce. Social commerce means that the smartphone brand is effectively utilizing the social media to sell its smartphones. It is making use of platforms like Facebook, Twitter, Hugo, Google+ to conduct various international operations.

The price range offered by Xiaomi helps it to standout in the market especially when its competitors are offering smartphones that cannot be bought by a common man. An average common man is not earning enough money to purchase top notch smartphones like Apple and Samsung. The price list is available online on different platforms. NoypiGeeks article offers its readers full price list and specification details of Xiaomi. Xiaomi sells its products with a profit margin of 1 to 2 percent only.

Xiaomi is believes in limited production and it creates scarcity. In other words, it limits its inventory and offers frequent flash sale to its users. Flash sales periodically create hype amongst the buyers as only a limited number of gadgets are ready to be sold. Low prices and initiatives like flash sale automatically motivate the middle men to purchase the smartphone being offered. However, such flash sales might benefit some individuals but at the same time it tends to frustrate the ones who were unable to take advantage of the sale.

The company is often referred to as “China’s Apple”, mainly because the features and specifications offered can easily be compared to one of the leading smartphone brand i.e. Apple. The aspect that makes it a “win win” situation for Xiaomi is its affordability. One can easily point out the affordability factor after having a look at the price list of the smartphone brand.

Furthermore, Xiaomi strongly believes in selling their products online. They have a forum where the consumers and developers can chat and share feedbacks. Such forums help them to act upon the feedback they received. It also enables them to ensure that their consumers are aware of the new software update and its release date.

The trick that worked for Xiaomi is that they have limited distribution channels. They are well aware of the fact that if they wish to increase their distribution channels then it will automatically lead to an increase in the cost thus limiting their cost competitive advantage.

Xiaomi can be considered as one of the largest selling smartphone brands across Asia. The factor associated with its success is affordability without compromising upon the features and specifications offered. Full price list is available on various online platforms. Many NoypiGeek articles highlight its unique features that make it worth buying.

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