Winning Made in China in Emerging Markets

In recent years, local companies have risen rapidly in emerging markets, leading many industries. With the advent of the mobile Internet era, more and more local manufacturing companies have accelerated their pace to seize the commanding heights of the emerging industry market. More than three-quarters (78%) of companies expect to have market share in emerging markets, according to a recent BCG survey of 156 business leaders, according to data from BCG's latest report, "Local Winning for Emerging Markets". will improve. It can be seen that under the current economic situation, the emerging industry market is still fertile ground for local manufacturing companies. Although the competition in emerging markets is fierce, there are many opportunities.

BCG believes that there are three main factors behind the success of local companies thriving in emerging markets:

1. Leveraging digital technology, customizing services

Nowadays The popularity of big data and cloud computing has created a massive database of customer confidence, and customized services are increasingly able to accurately capture customer preferences. Therefore, the innate advantages occupied by local enterprises can be fully exerted.

2. Brand Marketing

Local enterprises have a good grasp of the consumption habits of domestic consumers. By re-establishing and promoting their brand image, they can improve brand awareness and gradually generate brand appeal. , forming brand effect and brand core value.

3. Build a talent engine

The development of mobile Internet enables enterprises to quickly absorb advanced concepts in human resource management and conduct strategic management of human resources.

In fact, whether it is a local company or a multinational company, whether it is an emerging market or a traditional field, there are two aspects to quickly occupying the market: the strong development of the company itself and the correctness of the emerging industry market. Analyze and empower strategy execution.

The manufacturing industry is the commanding height of global economic competition, and the competition is extremely fierce. How to break out and seize the commanding heights? Can local manufacturing companies successfully adopt the secrets of success summarized by BCG?

The successful model of China's local industry leading companies

Professor Chen Chunhua from South China University of Technology summed up the "leading theoretical model" based on rapid growth and industry leadership. 4 import factors: 1 hero leader; 2 Chinese philosophy, Western standards; 3 channel drive; 4 community of interests. In addition to the four import factors, there are four export factors: corporate culture, core competitiveness, rapid response, and long-term mission. The interaction and mutual promotion of these 8 factors is the reason for the continuous growth of enterprises.

Professor Chen Chunhua's point of view is very comprehensive. The companies listed in the model are worthy of reference by the local manufacturing industry in terms of corporate strategy, brand marketing and human resource management.

If any manufacturing company is a representative of local companies in emerging industries in emerging markets, Xiaomi should be regarded as a representative of the representatives.

Rebus and Xiaomi phones

Xiaomi was established in 2010, and the first mobile phone came out in August 2011. Global sales were 61 million units last year, and this year's target is 80 million to 100 million units.

The most important halo of emerging industries is the favor of investment circles. Xiaomi's $1.1 billion financing at the end of last year pushed the company's potential market value to $45 billion.

Lei Jun summed up three factors for Xiaomi's success: 1. Internet dividends 2. Dividends from the manufacturing industry, the supply chain for the production of smartphones is mostly concentrated in the Chinese circle, which is quite complete. 3. Consumption dividends, the domestic economic level is improved.

Professor Zhou Naiping, editor-in-chief of CEConline, once wrote: Xiaomi jumped to the third place in the global smartphone market last year, ranking only behind Samsung in South Korea and Apple in the United States, bringing a new face to China's manufacturing industry. China's manufacturing industry suddenly shed its image of low-end foundry, integrated resources in the industrial chain, and flexibly innovated, making people in the world look at it with admiration. The shock brought by Xiaomi is not only a smartphone, but also refreshes the international market's understanding of the potential of China's supply chain, and encourages domestic companies to find new ways of integration and create a new situation.

On October 14th, Beijing time, Lei Jun, founder, chairman and CEO of Xiaomi Technology, received the "2015 Game Changer Awards" from the Asia Society at the United Nations Headquarters in New York. It is reported that Lei Jun is the only Chinese entrepreneur among the winners this year.

The original evaluation of Lei Jun on the Asia Society website is as follows:

"In China, the world's most populous country, Lei Jun's locally-made smartphones have outsold Apple's mobile phones. Still big. Lei Jun has been a game-changer since the beginning of his career. At the Beijing-based Kingsoft Corporation, Lei Jun was promoted to CEO at the age of 28. When he founded Xiaomi in 2010, smartphones were just emerging The market country started. Xiaomi's mobile phone brings a cost-effective choice to smartphone consumers. With the help of time dividends and online marketing, Xiaomi has risen at an alarming rate. In less than five years, Xiaomi has become the only place in Samsung and Apple. After that, the world's third-largest smartphone maker. Today, Xiaomi, led by Lei Jun, is considered one of the world's most valuable startups."