According to Bloomberg News, Vietnam will continue to rank among the top in Asia with a growth rate of 6.5% in 2018. According to the statistics of the General Administration of Customs of Vietnam, in the first seven months of 2017, Vietnam's top ten import and export trade volume accounted for 91.1% of the total national trade, of which the import demand of the refrigerator market increased significantly. It is also because of the huge import demand in the Vietnamese refrigerator market, all major brands around the world are trying to enter Vietnam to divide this "big cake", and this has triggered another wave of "price wars" in the industry.
According to industry experts, in the current world home appliance industry, China's price war is the most thorough use. From the market point of view, Chinese brands are basically playing price wars, and most of the companies that export overseas rely on OEMs to obtain economics. The interests have greatly restricted the development of Chinese brands. However, in such an industry background, Haier Refrigerator, the first brand of globalization, has always insisted on creating its own overseas brands, rejecting price wars, and deploying high-end strategies overseas to achieve continuous improvement of brand value. At present, in the Vietnamese market, the sales volume of Haier refrigerator high-end products 450-500L volume segment reached 36.8%, ranking first in Vietnam. Haier Refrigerator launched the 528-type high-end refrigerator in Vietnam in 2017, and it also entered the TOP3 list of local refrigerator sales.
The Vietnamese market has become a microcosm of global competition and has fallen into price wars.
In the global competition of refrigerator brands, the rapidly growing Vietnamese market has begun to receive more and more attention. In other words, the market competition status of Vietnamese refrigerators is a microcosm, which to some extent represents the regional market situation and brand strategy direction of the international home appliance brands behind globalization. At present, in the refrigerator market in Vietnam, Japanese and Korean brand products still dominate the mainstream, and domestic brands entering the Vietnamese market generally take the “price war†as the main means.
Considering that the local consumption level in Vietnam is low, the per capita wage is only about 1,500 yuan. Some domestic brands exchange prices for exchange of shares, and in order to reduce costs, enterprises use the form of OEM. Although this method can obtain benefits in a short time, it cannot enhance brand value. The low-end market price war is prevalent, but the high-end market is under-supply. At present, the high-end market in the Vietnamese market has not been fully tapped, and the market share is between 14% and 15%.
Haier's high-end ratio exceeded 20%, promoting globalization with "high-end route"
Faced with the price war situation between industry brands, Haier boldly adopted new ideas in the globalization layout strategy. That is, reject the price war and open the market with high-end products to achieve independent brand creation.
In 2017, Haier Refrigerator first launched the high-end product T-men type 456 refrigerator in Vietnam, and then launched the Haier 528-type high-end refrigerator in the second half of the year, and in one fell swoop into the local refrigerator sales TOP3 list, and 6,000 yuan The price has become the highest price among the top three in the sales list. At present, Haier's high-end brand strategy in the local refrigerator market in Vietnam has achieved initial success. The proportion of high-end products from less than 2% in 2016 reached more than 20% at the end of 2017, and the market share has gained momentum.
From a strategic point of view, Haier Refrigerator successfully occupied market share in Vietnam with its “high-end route†independent brand-creating strategy. It is not just the marketing result of Haier in Vietnam, but the future of Haier refrigerator in the global market competition. A new way of solving problems, has embarked on a new path of globalization that is unique.
The essence of Haier's global high-end strategy: rejecting price wars and demand-centered
Haier refrigerators can quickly enter the local user's field of vision and occupy the high-end market in Vietnam. Not only is Haier concentrated on high-end products, but the deeper reason is that Haier's high-end products launched locally have always made a fuss about user needs and satisfied local users. Consumer demand.
In Vietnam, Haier refrigerators use glass doors and black exterior design, which not only highlights the noble and beautiful products, but also meets the aesthetics of local consumers, which is in line with the consumption needs of local consumers for the appearance of refrigerators. At the same time, Haier accurately grasped the local consumer demand for high-end refrigerator products, and launched high-end products with accurate positioning and appropriate price range, which won the favor of local consumers. Taking the multi-door 517L computer temperature-controlled refrigerator launched by Haier in January 2018 as an example, its local price is about RMB 11,000, which has become one of the products popular among local consumers. In addition, this multi-door 517L computer temperature control refrigerator is equipped with fine control micro-channel, dry and wet storage, temperature change zone and other functions, which is very practical and worthy of users.
According to industry experts, the price war to obtain the growth of turnover at the expense of profits is tantamount to drinking and quenching thirst. Compared with most brands' "price war" concept, Haier refrigerators are user-centric, satisfying users' individual needs and providing high-quality products and high value-added strategies to quickly conquer local consumers.
Euromonitor International data shows that Haier refrigerator sales have ranked first in the world for 10 consecutive years. Opening the Vietnamese market with a high-end route can be seen as another successful case in which Haier refrigerators seize the global market and achieve brand globalization. Haier refrigerators have been able to achieve such success in global markets such as Vietnam, mainly thanks to Haier's "everyone's single-in-one" model, which is centered on user needs. In the past 13 years, Haier has insisted on exploring the “one person in one†model, and has continued to meet the needs of users with different global users, which has enabled independent brands to land in the world and successfully broke the global competition of home appliance companies.
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