1. Characterize Haier and its industry. Haier’s is a China-based multinational company specializing in the production of home appliances and consumer electronics was at first settled in 1984 as a Qingdao Refrigerator CO., in Qingdao, China (Haier, 2015). They are the third-biggest maker of home appliances and consumer electronics in the world and first in China. With their high quality of products, they have a great brand reputation and product differentiation. This is most vital variable to their business accomplishment as they spend a great segment of funds for innovative work of the products. According to Haier’s news, the company has set up five R&D focuses in China, the United States, Asia, Europe and Australia which are firmly associated
…show more content…
Haier 's global procedure to rival world 's major multinational organizations and the competition is the key driver as competitive-oriented foreign business sector entry is the real motivation for them. Haier did not take after any set standards and actualized its survival methodologies flexible both in its exporting and FDI. “Aside from the $5.4 billion purchase offer by Haier to acquire GE’s appliance business, Haier gains even more value in being a strategic partner with the wider GE Group – jointly expanding into automotive, healthcare, industrial Internet, advanced manufacturing and other high-tech industry sectors” (Kithany, D., 2016). Thus, Haier becomes a very powerful company that has the ability to acquire America’s most recognizable brand in the production of home appliances and consumer electronics. Haier follows its customer timely, meets competition bravely to build a strong market position and exchanges threat and finally shapes the competition. Going head-to-head against experienced international companies, they also compete with their Chinese counterpart and try to focus on the principals of their early success in the domestic market that are innovative product strategy with continuous innovation and high priority to the quality product and customer satisfaction. They are still a leader in the domestic market and giving tough competition to domestic as well as international
Haier 's global procedure to rival world 's major multinational organizations and the competition is the key driver as competitive-oriented foreign business sector entry is the real motivation for them. Haier did not take after any set standards and actualized its survival methodologies flexible both in its exporting and FDI. “Aside from the $5.4 billion purchase offer by Haier to acquire GE’s appliance business, Haier gains even more value in being a strategic partner with the wider GE Group – jointly expanding into automotive, healthcare, industrial Internet, advanced manufacturing and other high-tech industry sectors” (Kithany, D., 2016). Thus, Haier becomes a very powerful company that has the ability to acquire America’s most recognizable brand in the production of home appliances and consumer electronics. Haier follows its customer timely, meets competition bravely to build a strong market position and exchanges threat and finally shapes the competition. Going head-to-head against experienced international companies, they also compete with their Chinese counterpart and try to focus on the principals of their early success in the domestic market that are innovative product strategy with continuous innovation and high priority to the quality product and customer satisfaction. They are still a leader in the domestic market and giving tough competition to domestic as well as international