Haier Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Haier analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Haier marketing mix, help the brand succeed in the market. Let us start the Haier Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Haier Product Strategy:
The product strategy and mix in Haier marketing strategy can be explained as follows:
Haier is one of the leading consumer electronics companies in the world. Haier has a wide product range in its marketing mix and the brand is popular with millions of customers globally. Haier product categories include products from:
• Refrigerators, air conditioners, washing machines
• Televisions, home theatre systems
• mobile phones
• computers
• intelligent integrated home furniture, networked home appliance, medical products
Haier try to customize the products according to the requirements of the market it is targeting. For example, it designed a small refrigerator with a study table for the student community needs.
This is the way they tried to differentiate themselves from the other competitors in the market. Haier has production facilities in many countries including USA, Pakistan, Tunisia and South Africa.
Image: flickr.com/photos/yodelanecdotal/
Haier Price/Pricing Strategy:
Below is the pricing strategy in Haier marketing strategy:
Haier is a huge global brand and hence the price of its products align with the local competition in which the brand is present. Haier pricing strategy in its marketing mix differs from market to market.
It tried to place itself as a niche player in India due to Indian consumers having a negative perception about Chinese brands in India. Haier used the same strategy in Europe as they faced the same problem. Even in countries like USA it tried not to compete on price but to compete at the same level as the other competitors in the market like Whirlpool and GE by using competitor oriented pricing method. It tries to concentrate on product quality than on price. Haier tries to customize its products according to the requirements of the market it is targeting.
Read more about Haier
Haier Place & Distribution Strategy:
Following is the distribution strategy in the Haier marketing mix:
Haier mainly sells its product through major retail chains like Chroma, E-zone, Walmart, Home store and various other retail chains. It is also available online on major ecommerce sites and in their dedicated online stores (available only in certain countries). Haier has a strong distribution network all over the world. Haier has production facilities in many countries including USA, Pakistan, Tunisia and South Africa. Haier uses the distribution channel to distribute its industrial products like industrial air conditioner. For example, it chose Kotler marketing company to distribute in USA. Kotler company is overall in charge of selling Haier refrigerator in the US market and look after choosing distributers.
Haier is one of the most reputed consumer electronic brands and available widely across the world due to its extension distribution network.
Haier Promotion & Advertising Strategy:
The promotional and advertising strategy in the Haier marketing strategy is as follows:
Haier promotes its products through outdoor advertisement- airports and magazines mainly. They also conduct heavy advertising in trade publications or on the internet. Haier also promotes its products through sponsoring of sports event like Beijing Olympics and Global strategic cooperation agreement with NBA. Triathlon for kids and blockbuster giveaways are the other methods used by Haier to promote its product. Other promotional offers by Haier are Valentine month offers where products are sold at discounted price for a month. It also promotes itself as world’s number 1 brand in the last 8 years. It has online presence in Facebook, Twitter, Pinterest and Youtube with pages and handles for each country of operation. Hence, this covers the 4Ps in the marketing mix of Haier.
About Haier:
Haier Group is a Chinese multinational consumer electronics and home appliances company headquartered in Qingdao, China. Haier is a public company which sells air conditioners, mobile phones, computers, microwaves ovens, washing machines and other white goods. Haier is also present in real estate, finance space, and incubation space though their presence in this field is very less compared to their white goods segment. Haier was formed as Qingdao refrigerators in 1984 with technology from Germany’s refrigerator company Liebherr. Having diversified into other product line because of Qingdao province officials requesting them to take other sick units in the province, it adopted a new name Haier in 1991. The company what it is today is credited to Zhang Ruimin the present CEO and Chairman of Haier group. Haier is now the 4ht largest white appliances company.
Although a public company Haier is still technically a collective company which belongs to its employees and run as a government entity. There is severe interference from the government but the company has still managed to stay on due to its strength in the white appliances field.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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