Li Wanqiang, who is one of Mi’s partners, wrote a book about Xiaomi’s methodology called “ Sense of participation ” The book is not just about marketing; it is also about the way an up-and-coming young company that decided to follow its own business philosophy can use Internet in hardware manufacture.
It seems that Xiaomi understood and that we want efficient gadgets at low prices and stories. Exact. I was children. Children who want to read stories. This detail is extremely important. He confirms that they understand that is the main difference between the US and Asian markets. Marketing is not just to promote a product with high quality. True marketing is to create a story around a product. Without this story product will be a good product and the unknown.
Xiaomi created Mi ecosystem. There’s a belief that if we manage to learn about all Xiaomi marketing tools (which are, by the way, in plain view), company’s development strategy will no longer have any appeal. But for now, no other company, trying to drive its business the same road as Mi does, succeeded in doing that. Xiaomi is a forerunner in many ways, but still its marketing potential is not used in full capacity. What a boom the industry could whiteness if Xiaomi used 100% of its marketing potential.
I will not let intimidated by such statements. Prudence is beneficial up to a point. There are times when it is more profitable to risk. This is the second test to enter the US market. While it waits competition grows along with them. In this area it is impossible to do a business plan for a very long period. Unpredictable market evolves and clients need help to keep up.
Lei Jun says that even if the entire smartphone industry goes downhill, taking care of technologies, rather than advertising or marketing strategy, should be put first. Lei Jun is not going to spend a lot of time building a marketing strategy.
Did you understand the difference?