The Haier Group’s competitive advantage(s) Essay
The Haier Group’s competitive advantage(s)
What competitive advantage(s) do you think Haier Group has? What competitive strategy does the company appear to be following? Explain your choices. The Haier Group has a great benefits of been having some competitive advantages, among them continuous innovation played an important role in their success. The Haier Group’s slogan is “Continuous innovation is the soul of Haier’s corporate culture”. Other than that, the competitive advantages include strong brand recognition in China. Haier Group now ranked as the country third most popular brand. It is even ahead of Coca-cola which is the fourth popular brand in China. Additional competitive advantages include well-equipped with manufacturing facilities in 13 countries, 18 research, development and design centers around the world.
Therefore, all these facilities have provided CEO Zhang Ruimin to collect valuable information and strengthen Haier Group in achieving these objectives. All this factors create innovation and high quality products. As a result Haier Group has become well known and a truly global brand. Another impressive of Haier is the innovative of 1.3 new products per day. For all these reasons, Haier has mushrooming in many towns all over the world. And now the company’s products are well known for its quality and innovation. In addition, the optimistic person CEO Zhang Ruimin has shows his enthusiastic and excellent management and finally brought Haier to the path of success. This has made Haier become one of the most outstanding companies among the competitor. CEO Zhang Ruimin is implementing a differentiation strategy. After Haier group purchases the American domestic appliance maker Maytag Company. With the asset and technology acquired, the company starts to produce greater range of good quality and innovative products.
Haier use the creative advertising, distinctive product features, and new technology to make their products that are widely valued by it consumer. The company has achieved their goals and successfully expanded into a worldwide company. And Haier’s name surfaced in U.S. business news headlines in late 2005. Because of the high quality and innovative products, Haier has exported its products to more than 160 countries and regions, and it has hit the target of revenue more than $12 billion. On the other hand, the Haier Company concentrates on a specific regional market or buyer group.