Year: 2024
Type: article
Abstract: The Xiaomi SU7 has emerged as one of the most renowned technological products over the past few months. Xiaomi's success is not only confined to the digital realm; it has also achieved significant market penetration. This is undoubtedly attributed to Xiaomi's strategic approach; however, there seems to be a dearth of analysis pertaining to these strategies and recommendations. Therefore, through the perusal of relevant documents, this paper aims to elucidate how Xiaomi has captured the market and summarize the potential lessons they could learn from companies such as Tesla. The research reveals that Xiaomi excels in leveraging its fan base while employing a scarcity marketing strategy. Another noteworthy aspect is Xiaomi's maintenance of a favorable reputation. These strategies have enabled Xiaomi to swiftly acquire market share. Nevertheless, the Xiaomi SU7 still exhibits certain shortcomings, particularly in terms of its technology. To mitigate this, Xiaomi needs to persist in investing in technological advancements and capitalize on its strengths.
DOI: 10.54097/66fvkp04
Author: Yongyao Qian
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404191164