Unboxing Xiaomi’s Marketing Strategy- An Example Which Every Startups Need to Follow
In 2014, Xiaomi, the Chinese electronics and Software Company, stepped in the Indian market with an innovative market strategy in partnership with Flipkart, the country’s largest online retailer by launching the Mi 3. The model unveiling took place in a small hall with few journalists covering the event; a big contrast to the unveiling of Apple and Samsung new phones. Instead of spending vast sums of money on marketing and advertising, Xiaomi decided to employ hunger-marketing tactics – a psychological strategy designed to focus on the customer’s desire, making them crave for a product others want to buy – to sell its cost effective smartphones.
Making only a limited supply of smartphones available on the e-commerce platform, the smartphone sold out after a few seconds. This strategy bo...