Apple and Samsung in Xiaomi Crosshairs, but is the bubble about to burst? - Future Market Insights

Chinese smartphone startup Xiaomi recently made headlines thanks to the tremendous success of their Redmi Note 4G model. Put up on a flash sale on Indian ecommerce website Flipkart, all 40,000 handsets sold out in six seconds! The Chinese tech company then followed up this barely believable accomplishment by becoming the most valuable startup in the world. Raising over US $ 1 billion in venture capital funding, Xiaomi ended up with a valuation of US $ 45 billion, ahead of global enterprises such as Uber.

Such accomplishments are becoming a regular feature with regard to Xiaomi’s seemingly unstoppable ascension. Earlier this year, Xiaomi became the third-largest mobile phone maker in the world, overtaking established giants such as Lenovo and LG. It seems incredible since the Chinese giant made its first sale in 2011, which is barely three years ago.

According to an FMI analyst, Samsung, LG, Lenovo and Apple particularly, rely on the sales of their high-end handsets. In fact, it was the unprecedented sales of LG’s low-end mobiles this year that helped them to achieve high sales. 2014 was the first time LG’s annual sales exceeded 15 million handsets.

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In direct contrast to the two companies above it, Xiaomi is exerting an increasingly strong grip on the burgeoning budget smartphone market in Southeast Asia. Xiaomi’s sales rely largely on the developing economies of China and India, the two most populous countries in the world. While other handset makers concentrate on maximizing the profit per model sold, Xiaomi’s focus lies on the profit from larger volume and sales of add-ons to existing customers.

“However easy Xiaomi may have found it to get into the top three among handset manufacturers, the more difficult proposition is to overtake Apple and Samsung,” an Future Market Insights lead analyst said. Though Samsung’s sales dropped slightly in the past year, it comfortably remains the global leader. The Korean giant recently revealed plans to redesign its sales strategy, while Xiaomi’s impending showdown with Apple is an even more intriguing affair.

What remains to be seen is how the development of Xiaomi’s two main markets will affect the company. An Future Market Insights analyst summed up Xiaomi’s dilemma, “In a nutshell, as their target segment becomes more affluent, Xiaomi will either have to concede ground to more popular makers of high-end models or venture into the territory themselves and risk legal backlash from the likes of Apple.” Following the recent release of Xiaomi’s new flagship model, the high-spec Mi4, the stage is set for an intriguing and possibly paradigm-shifting battle in 2015.

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Shift In Marketing From Globalization To Personalization - Future Market Insights

Marketing is an integral branch of any organisation that aspires to make it big. It is the pulse that breathes life into the efforts of developing a company business plan. Over the years, marketing as a branch has evolved considerably, but it is the company’s implementation of new strategies that decide its rate of success. Simply put, fundamentals of marketing have not changed; the method of delivery has.

Every year, companies upgrade their marketing policies. Analysts predict a growing number of companies to adopt a consumer-centric approach in order to win customers’ hearts, leaving behind indelible impressions. This shift towards a more consumer-oriented, personalized marketing stems from an increasingly tough market competition, faster communication channels the need for resource accountability and creating a legacy.

Why Personalization is the Key to Success

Her, a science fiction romantic comedy-drama film by Spike Jonze transports its viewers to a time in future where the lost art of writing letters, mostly romantic in nature, is being revisited and is a growing business. At a time when everything around seems robotic and mundane, in monochromes of grey, the protagonist Theodore Twombly, works to earn his bread and butter writing handwritten love letters as per client demands, reminiscing moments between lovers in a way that touches a chord with its readers. 

When one opts to adopt a personalized approach towards offering products and services, their business makes a winning case for itself. Personalizing customer experience be it online or offline is the key to creating a trustworthy brand that people can return to without hesitation. Needless to say, in the film, the hero goes on to become a successful writer!

Making Dreams Come True
Analysts at FMI believe that a business plan comes with possibilities without barriers. Businessmen often come across clients who carry around a bag full of expectations for personalized products and services. Sometimes a shift in perspective in viewing customer expectations through a lens of possibility can lead to a revolutionary personalized marketing technique.

Imagine a house painting company delivering a specific hue that does not feature in their catalogue. This customization offers a brilliant opportunity for the business house to not just paint dreams, but also deliver a unique service like none other. Maybe marketeers need to take Walt Disney’s saying, “If you can dream it, you can do it”, seriously!

Risking Reinvention
The next trick in the bag towards winning this shift in marketing strategy is to predict the expectations of consumers. For instance, while breaking traffic rules to text, it is such a relief to know that your smartphone knows precisely what to text (call it artificial intelligence or predictive text). It saves mental hassle and makes you fall in love with the application.

Nowadays, internet software allows companies to identify the physical locations customers are signing in from, keep records of customers’ transactions with them, and use tracking cookies to learn about consumers’ other shopping interests. With this data, a website can personalize a visitor’s experience by showing them a customized page, featuring their language preference and products and offers they are more likely to be interested in. Brands like Nike and Adidas are leading the way in terms of product personalization.

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