Entrepreneurial Creativity

REPORT SUBTITLE

Thiri Myat Hsu | Course Title | Date

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Successful ventures perform a mixture of business activities well, as well as selling,
production, distribution, finance, client service, and/or different activities vital to the
enterprise. However, a competitive advantage is usually one key part that offers a grip to a
business on the far side what the competition has or will.

The power of the key is to give the strategies to the marketers to have an
advantage from their potential and existing competition inside the company. And also, to
have a successful environment within the business, the company should consider the
following factors related to inside and outside which means that the existing competition
and the future competition.

POTENTIAL COMPETITION OF THE COMPANY

For the potential competition, there are many factors to be considered and they
are as follows:

 Product options and edges

What makes the merchandise distinctive and desired? Let’s take into
account product characteristics love vogue, handling, taste, quality ingredients,
comfort, production strategies (such as natural or organic), certification so on.
Square measure the merchandise characteristics considerably totally different from
those of presently offered products? Will the venture give these options or edges
effectively?
 Locations
The workplace or store location is commonly a awfully vital issue,
significantly for ventures mercantilism on to the general public. Location ought to
be chosen with care, ideally in a locality close to client traffic. to Illustrate, during a
farmer’s market setting, is that the booth placed during a visible, convenient, and
accessible place? Being tied to an existing location can directly influence different
selections, akin to promoting, product distribution (such as mail order/Internet
versus edge stand), and even product choice. If this can be the case, wouldn't it be
potential for the venture to partner with somebody who contains a higher location,
if the one provided isn't as attractive?
 Customer Award programs
If there is any incentives available for the loyal customers? This is one of
the ways for taking the attention of the customer and this can lead to maintain the
usual customer and making the customers to be valued the brand and products
from the company.

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EXISTING COMPETITION ON THE COMPANY
 Staff
The company should consider the factors that make sure that front and
social control employees turn out a decent product and supply a positive client
expertise. And will the venture’s personnel follow these factors? Do they act
professionally? Do they need experience with the merchandise, on that customers
will rely?
 Price
What basic price advantage will the venture have which might justify for
good low prices? Most ventures operational within the same business in a very
location can tend to possess just about a similar price structure, that means that
once one rival cuts value, others typically follow, so erasing no matter advantage
the primary rival gained by reducing costs. Ways in which for acquiring a basic
price advantage can be through lower overhead or shipping prices (perhaps
through geographic closeness to markets), cheaper labor, and/or affordable raw
materials (perhaps through long purchase agreements).
 Quality
From all of the above existing competition, quality is one of the most
important aspects needed to be considered. An important thought for any venture
is however quality goes to be perceived and measured. In some cases quality could
also be regarding added methods, appreciate getting third party certification for
organics, kosher production, etc. In alternative cases, quality could also be
regarding the very fact that the merchandise being offered is of a better physical
quality than the competitor’s product, or from providing wonderful client service.

EVALUATION ON MICRO MARKETING ON XIAOMI

Micromarketing is the marketing strategy used to focus on the small group of
highly targeted customers. And also, micro markets is like a convenience shop which can
provide the high quality and easily accessible to the old and potential customers. Unlike
the other markets, the micro markets are able to make the market more expendable and
more accessible to the emerging company like Xiaomi. Moreover, SWOT analysis can be
used to discover and make research to the market of Xiaomi.

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Strengths of Xiaomi

The company has the following strengths:

 There are many skilled and experienced employees n business investors in the
company
 The units of products usually provided by the company is appropriate and ready
and all the products are qualitified in the market
 And also, the management team is so strong that they can manage their respective
team easily and so well

Weakness of Xiaomi

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 On the other point the company has little flaws which needs to be fixed

 Online advertisements model is not effective in some ways of the company.

 And also, there is another problem in collecting professionals and employees
within the company
 After the sales period, they need some techniques to promote their products to
maintain their market positions.

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