PROJECT REPORT ON:

“A STUDY ON MARKETING STRATERGY OF XIAOMI MOBILE AND

IMPACTS ON MAKING DECISION TOWARDS CUSTOMER
SATISFACTION”

SEMESTER-VI

AS A PARTIAL FULFILMENT FOR THE DEGREE BACHELOR OF

MANAGEMENT STUDIES (BMS)

SUBMITTED BY:

DHANASHREE NIKAM

ROLL NO: 37

UNDER THE GUIDANCE OF:

AKSHADA BARI

K.M AGRAWAL COLLEGE

ADDRESS: GANDHARI, PADGHA ROAD,

KALYAN(W) 421301, DISTRICT: THANE

(2021-2022)
 DECLARATION

I, Dhanashree Jitendra Nikam the Student of T.Y.BMS Semester-VI (2021-22)

hereby declare that I have completed the project on A study on Marketing Strategy of
Xiaomi mobile and impacts on making decision towards customer satisfaction. The
information submitted is true and original to the best of my knowledge.

Name of the Student:

Dhanashree Jitendra Nikam

Roll No: 37
 CERTIFICATE

This is to certify that Dhanashree Jitendra Nikam Studying in the Third Year of
Bachelors of Management Studies (BMS) program at K.M Agrawal College of Arts,
Commerce and Science, Kalyan has completed the “A study on Marketing Strategy of
Xiaomi mobile and impacts on making decision towards customer satisfaction.” as a
part of the curriculum requirement for Bachelor of Management Studies (BMS) under the
Guidance of Prof.Akshada Bari.

Signature of Principal Signature of Coordinator

Name: Dr. Mrs. Anita Manna Name: Prof. Sujeet Singh

Signature of Project Guide Signature

Name: Prof. Akshada Bari External Examiner

 ACKNOWLEDGEMENT

To list who all have helped me is difficult because they are so numerous and the depth
is so enormous. I would like to acknowledge the following as being idealistic channels and
fresh dimensions in the completion of this project. I take this opportunity to thank the
University of Mumbai for giving me chance to do this project. I would like to thank my
Principal, Dr. Mrs. Anita Manna for providing the necessary facilities required for
completion of this project. I take this opportunity to thank our Coordinator, Prof. Sujeet
Singh for his moral support and guidance. I would also like to express my sincere gratitude
towards my project guide Prof. Akshada Bari whose guidance and care made the project
successful. I would like to thank my College Library, for having provided various reference
books and magazines related to my project. Lastly, I would like to thank each and every
person who directly or indirectly helped me in the completion of the project especially my
Parents and Peers who supported.
 Index

Sr no. Topic Page No.

1 INTRODUCTION 01

2 OBJECTIVES TO STUDY 05

3 REVIEW OF LITERATURE 06

4 RESEARCH METHODOLOGY 08

5 COMPANY PROFILE 22

6 ABOUT XIAOMI 25

7 AFTER SALES SERVICE AND FUTURE 46

PROSPECTS
8 DATA ANALYSIS AND INTERPRETATION 48

9 FINDINGS 59

10 CONCLUSION 60

11 BIBLOGRAPHY 61
 1.INTRODUCTION

This research paper examines marketing strategy of Xiaomi mobile phone in Yangon that
impacts on making decision towards customer satisfaction. This Chapter includes research
background, statement of problem, objective of the study, research questions, hypothesis of the
study, and conceptual framework, variables of the study and definition of terms. The core of this
study is Marketing Strategy of Xiaomi Mobile Phone in Yangon that affects Customer Making
Decision towards satisfaction. Mobile phone industries have been seeing a rapid growth, has
made enormous jumps since its inception, and particularly in these 5 years that have seen mobile
phones getting smarter and more stylish than its early days when the concept of having a
smartphone was totally misunderstand by the masses. Xiaomi is a software company that is
founded by 8 co-founders in 2010. Xiaomi’s first product is MIUI, which has over 100 million
user-bases to the date of this article written (En.miui.com, 2015). Xiaomi’s priority is to
distribute MIUI globally and their involvement in hardware business in 2011 mainly is to help
boost MIUI user-base. In order to have more consumers to own their hardware, Xiaomi decided
to sell their products at near-to-cost (Bhagat, H. 2014). To Xiaomi, setting up a traditional brick
and mortar store might increase the cost of the product and in view of this Xiaomi concentrated
their businesses online. Due to Xiaomi’s product will not be available on the website at all times;
Xiaomi needed a way to communicate with its consumers. So the best way for them to
communicate with consumers is through the social media. Xiaomi’s strategy of concentrating
their business through the social media allows their brand to be known in no time (Shih, Lin, &
Luarn, 2014; Stone, 2014). Chinese electronics firm Xiaomi’s smartphones have been on sale
unofficially in Myanmar for over a year, but the company is now gearing up to officially start
selling its products as user demand picks up. Local company Strong Source Co Ltd signed an
agreement with Xiaomi to retail the phone at Myanmar authorized distributors. Xiaomi

was the world’s fifth-largest smartphone maker in 2015 Xiaomi with 70.8 million units sold,
accounting for about five percent of the global smartphone market according to (Roettgers, J.
(2015). However, some users griped about the smartphone’s inferior processor and low internet
speed (Hitesh Bhasin, (January 25, 2019) “The camera quality is great and resolution as well.
However, there is no original headset and internet speed is low. I bought the phone last month

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and now the processor does not work well. I think that will be a barrier to attract Myanmar
users,” a Xiaomi Mi 4i user, Ma Yamin, said (MOH MOH KYI, (16 JUN 2016). The brand will
be available in six models in Myanmar including the Mi 5, Red Mi 3, Red Mi Note 3 Pro, Mi 4i,
Note 2 and Red Mi 2, which will be distributed in the market with a one-year guarantee,
according to Assistant General Manager of Strong Source Ko Thet Zin. Besides that, Mi service
center, Mi Corner, Mi Home will be provide in Yangon, Mandalay, and Naypyitaw for Xiaomi
official products (MI HOME MYANMAR, 2018). Xiaomi holds a leading11percentage of
penetration in the Smartphone marketing China. The company grossed more than $5 billion in
revenues during the first half of 2014.With only 2,600 employees (as of June 2013), it has a
market capitalization of over $10 billion. Its top executives have technological backgrounds and
experiences from many other high-tech multinational companies in the west. For a short time,
Xiaomi, a china mobile company is rapidly market in the Myanmar Technology Market. Xiaomi
established by CEO Lei Jun with his seven partners in 2010. In August 2011, the smart phone
was firstly introduce into the market, and then in 2014, it became the top brand in China
smartphone market. It becomes as world biggest smartphone company, currency. Today,
companies attempt to live on with the help of customer satisfaction and more sale and profit
through market researches and identification of customers’ needs in the current world of
competition. Therefore, one of the ways of achieving the mentioned objectives is to analyze the
concept of marketing mix in any kind of business (Fakhimi Azar, Akbari Vanehabad, & Rasouli,
2011). Any sort of marketing strategy has impact on customer satisfaction and marketing mix
elements are a set of controllable marketing variables in the hands of managers and decision-
makers of the company. (Khodadad Hosseini & Rezvani, 2009). If the relationships between
marketing strategy such as product, price, place, promotion and customer satisfaction especially
Xiaomi mobile in Yangon Myanmar are determined, the decision-makers of the company will
easily decide upon how to employ marketing mix elements to impacts on the highest of making
decision (Purna Satit, Rezky and Huam, 2012) about Smart phones The term Smartphone, refers
to a multimedia phone handset, which is a multifunctional electronic device that has features
ranging from Camera, Audio-Video Playback, Web browsing to a high-density screen display
along with several other multimedia options. Smartphone provides a one stop solution for mobile
calls, email sending, and Internet access. Smart phones are based on an Operating System,
basically possessing all the major functions like that of a Computer, such as web browsing,

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emailing, video and voice chatting, audio-video playback, and others. Till a few years ago, a
Smartphone was a Personal Digital Assistant having the calling features like a mobile phone, but
lately mobile phones possess the functionality of added media players, compact digital camera,
GPS etc. 1 These days less expensive advanced mobile phones are additionally accessible in the
business sector. However, why individuals purchase extravagant smart phones? Value, quality,
brand, nation of source, marketing, deals, verbal and so on could be a few variables that a
shopper may think before purchasing a Smartphone. What amount of does a brand of cell phone
influence the purchasing choice of a customer? As there are different sorts of smart phones
accessible in business sector with fluctuating value; what is the contrast between them? What's
more, how they affect the customer purchasing choice? About Xiaomi (Mi) Xiaomi (MI) is a
Chinese multinational technology company, founded in 2009 in Dongguan, Guangdong, which
undertakes designing, developing, and manufacturing smart phones, smart phone accessories,
software, and online services. The brand utilizes Hi-Fi chips in its smart phones, it focuses on
providing a high quality audio experience for users by. Hi-Fi stands for High-Fidelity. As the
first brand in the world to introduce Hi-Fi sound quality in its smart phones with the creation of
the X1, Xiaomi (MI) has demonstrated a commitment to Hi-Fi in all subsequent generations of
its phones.2 Software developed by the company includes the Xiaomi (MI) App Store, manager,
and a proprietary Android-based operating system called Fun touch OS. Xiaomi (MI) was
founded in 2009 as a sub-brand of BBK Electronics. The brand entered the telecommunication
and consumer electronics industry with landline phones and wireless phones. In 2011, Xiaomi
(MI) started manufacturing and marketing its own range of smart phones. The first smart phone
was released in August 2011 and Xiaomi rapidly gained market share in China to become the
country's largest smart phone company in 2014.At the start of the second quarter of 2018,
Xiaomi had attained the fourth position in the world as the largest smart phone manufacturer,
leading in both the largest market, China, and the second-largest market, India thereby Xiaomi
developed an enormous range of consumer electronics, including a smart home (IoT) device
ecosystem. With the creativity and technology, Xiaomi (MI) keeps innovating. In 2012, Xiaomi
(MI) created the X1, the first Smartphone to incorporate a Hi-Fi chip, resulting in an unparalleled
audio experience. Pioneering this technology, it has been included in all Xiaomi (MI) smart
phones ever since. From then on, the innovation never stops. In 2012 Xiaomi (MI) released the
X1, at the time the world’s thinnest smart phone. The X1 was also the first Xiaomi (MI) phone to

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use a Hi-Fi chip, developed by American semiconductor company Cirrus Logic. Xiaomi (MI)
followed this up in 2013 by releasing the world’s first 2k-resolution screen phone, the Xplay3s.
Quickly becoming a major player in the smart phone industry, Xiaomi (MI) joined the ranks of
the top 10 smart phone makers in the first quarter of 2015 with a global market share of 2.7%.
Xiaomi in India According to the data of 2014, Xiaomi had 5.3% of the global smart phone
market, ranking them third after Samsung (23%) and Apple (12%) (Figure 2). In China, Xiaomi
was ahead of Samsung and Apple by the end of 2015, and also displayed its competitiveness
against other domestic companies including Huawei and Vivo.3 Xiaomi commenced the sale of
smart phones in India in July, 2014. By 2016, the company was successful in making India the
second largest market for its smart phones. The Indian smart phone market is expected to grow
to become the second largest by 2019, with about 225 million smart phones sold annually. The
expected growth of India’s smart phone market was considered to be low because 70% of the
population used feature phones. However, by 2014 India had become an important destination
for smart phone production and use based on the availability of a low-cost smart phone that has
captured 77% of the mobile phone market The “Make in India” initiative also resounds with
Xiaomi (MI)’s plan. The setup of assembly unit in Greater Noida is the first step toward this
commitment. The unit has been operational since November, 2015 with Rs. 125 crore first-phase
investment. It currently employees around 2,200 Indian employees in the factory to assist its
production capacity reach one million units/month and build a concrete foundation for
Xiaomi(MI)’s sustainable development in India

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 2.OBJECTIVE TO STUDY

The general objective of this study is to explore Marketing Mix Strategy of Xiaomi Mobile
Phone in MUMBAI that effects on making decision towards customer satisfaction. The specific
objectives are as follows..

1. To analyze which marketing strategies are impact on customer making decision towards
Xiaomi mobile phone in MUMBAI .

2. To study how the customers are satisfaction level of Xiaomi mobile phone in MUMBAI.

3. To determine how relationship between marketing strategy and customer making decision
related to Xiaomi mobile phone in MUMBAI.

4. To understand the profile of smart phone company Xiaomi (MI)

5. To measure the consumers’ perception towards XIAOMI (MI)’s Smartphone

6. To analyses the factors influencing the customers to choose XIAOMI (MI)

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 3. REVIEW OF LITERATURE

Xiaomi is a privately owned Chinese electronics design and manufacturing company. Founded
by Lei Jun in 2010, the company has its headquarters in Beijing and comes about the fourth on
the list of the top Smartphone makers in the world. Its consumer electronics and computer
hardware products are some the fastest moving in China. The rate at which Xiaomi is growing is
alarming to Samsung and Apple as the company has almost managed to position itself as the top
Smartphone spot in China. Hitesh Bhasin, (January 25, 2019) In this research in literature
review, researcher will describe the theoretical of marketing mix, marketing strategy of Xiaomi
mobile phone, marketing mix of Xiaomi mobile phone, good quality product of Xiaomi mobile
and low price, pricing strategy of Xiaomi mobile, Place or distribution strategy of Xiaomi
mobile, promotion strategy of Xiaomi mobile, making decision of customers, customer
satisfaction and measuring customer satisfaction of Xiaomi mobile phone and related research
theory.

For several years, China’s mobile phone market had been subjugated by foreign companies such
as Nokia, Motorola, Apple, and Samsung. But the situation has seen a turnaround with the arrival
of smartphones. Nokia died out from the market. Motorola was sold to Google and later sold
again to Lenovo in 2014. Although Samsung still has the largest share of the Chinese market, its
performance has lagged, with its revenue as well as profit showing adverse growth. Apple is still
budding, although the pace of growth has slowed. In contrast to this is the leap of Chinese
businesses, with Xiaomi making especially impressive gains.4 Consumer Perception is defined
as perception as the process, by which information is received, selected, organized, and
interpreted by an individual.5 Perception is defined as “the process by which an individual
selects, organizes, and interprets stimuli into a meaningful and coherent picture of the world.”
Consumer behavior is “the behavior that consumer display in searching for, purchasing, using,
evaluating, and disposing of products and services that they expect will satisfy their needs”.6
Product attributes as the characteristic or features that an object may or may not have and
includes both intrinsic and extrinsic features. Benefits are the positive outcomes that come from

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the attributes. People seek products that have attributes that will solve their problems and fulfils
their needs. Considering why a consumer chooses a product based upon its attributes helps
marketers to comprehend why some consumers have preferences for certain brands.7 There are
several definitions of marketing from many experts that had been published. Marketing is about
identifying and meeting human and social needs. One of the shortest good definitions of
marketing is meeting needs profitably.

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 4. RESEARCH METHODOLOGY

This chapter is to discuss the methodological approach undertaken to discover marketing mix
strategy of Xiaomi mobile phone in Yangon that affects making decision towards customer
satisfaction. The research methods must be appropriate to the objectives of the study. This
research carried out via exploratory research, which allows familiarizing with the problem or
concept to be study, followed by descriptive-causal research to determine which variable might
be causing a certain behavior. The final stage will be a conclusive research to provide
information that is useful in reaching conclusions or decision-making and customer satisfaction
of Xiaomi mobile phone with a valid research instrument. This chapter will present types of
research methodology, population and sample, demographic profile of sample, research
instrument and data analysis will be discuss.

Types of research methodology:

1.Qualitative Research:

This type of research methods involves describing in details specific situation using research
tools like interviews, surveys, and Observations. Qualitative Research is primarily exploratory
research. It used to gain an understanding of underlying reasons, opinions, and motivations. It
provides insights into the problem or helps to develop ideas or hypotheses for potential
quantitative research (Creswell, 2003). Qualitative Research also used to uncover trends in
thought and opinions, and dive deeper into the problem. Qualitative data collection methods vary
using unstructured or semi structured techniques. Some common methods include focus groups
(group discussions), individual interviews, and participation/observations. The sample size is
typically small, and respondents are select to fulfill a given quota (Royall, 2000). Quantitative
Research used to quantify the problem by way of generating numerical data or data that can be

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transform into useable statistics. It used to quantify attitudes, opinions, behaviors, and other
defined variables–and generalize results from a larger sample population (Berg, & Lune, 2004).
Quantitative Research uses measurable data to formulate facts and uncover patterns in research.
Quantitative data collection methods are much more structure than data collection methods.
Quantitative data collection methods include various forms of surveys – online surveys, paper
surveys, mobile surveys and kiosk surveys, face-to-face interviews, telephone interviews,
longitudinal studies, website interceptors, online polls, and systematic observations (Richard,
2000). Quantitative methodology is used in this study for many reasons. This type of research
methods requires quantifiable data involving numerical and statistical explanations. Quantitative
Research is used to quantify the problem by way of generating numerical data or data that can be
transformed into useable statistics. It is used to quantify attitudes, opinions, behaviors, and other
defined variables–and generalize results from a larger sample population. Quantitative Research
uses measurable data to formulate facts and uncover patterns in research. Quantitative data
collection methods are much more structured than Qualitative data collection methods.
Quantitative data collection methods include various forms of surveys – online surveys, paper
surveys, mobile surveys and kiosk surveys, face-to-face interviews, telephone interviews,
longitudinal studies, website interceptors, online polls, and systematic observations (Creswell,
(2003).

2.Population and Sample:

A sample is the term that refers to the group surveyed anytime the survey is not administered to
all members of the population. The process of selecting a smaller group of the people that have
the same characteristics and preferences as the total group from which it is drawn called
sampling (Richard Valliant, Alan Dorfman, and Richard Royall, 2000). A famous quote:
Cervantes stated “By a small sample we may judge the whole piece.” In marketing research, the
goal is to assess target segments efficiently and effectively by designing and executing
representative sample plans. In most cases, the study objects of interest consist of a large
universal. The reason, which select the sampling technique over a census, is due to cost saving,

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time economy, more in-depth information, less total error, greater practicality and greater
security (Geneva, 2016).

3.Simple Random sampling:

Researcher choose simple random sampling in the research for conceptually; simple random
sampling is the simplest of the probability sampling techniques (Richard Royall, 2000). It
requires a complete sampling frame, which may not be available or feasible to construct for large
populations. Even if a complete frame is available, more efficient approaches may be possible if
other useful information is available about the units in the population. In statistics, a simple
random sample is a group of subjects (a sample) chosen from a larger group (a population). Each
subject from the population is chosen randomly and entirely by chance, such that each subject
has the same probability of being chosen at any stage during the sampling process. This process
and technique is known as Simple Random Sampling, and should not be confused with Random
Sampling. In small populations such sampling is typically done "without replacement", i.e., one
deliberately avoids choosing any member of the population more than once. An unbiased random
selection of subjects is important so that in the long run, the sample represents the population.
However, this does not guarantee that a particular sample is a perfect representation of the
population. Simple random sampling in this study merely allows us to draw externally valid
conclusions about the entire population based on the sample. Although simple random sampling
can be conducted with replacement instead, this is less common and would normally be
described more fully as simple random sampling with replacement. Advantages using simple
random sampling in this study are that it is free of classification error, and it requires minimum
advance knowledge of the population. For it best suits situations where not much information is
available about the population and data collection can be efficiently conducted on randomly
distributed items. A simple random sample of 186 customer’s respondents was obtained from
each of the four retail Xiaomi mobile stores; sum up a total of 350 respondents data. Keeney
(1992) has emphasized that the decision making should define objectives before seeking
alternatives that permit to attain his objectives. Therefore, researcher manage to expose the

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relationship between the marketing mix, 4ps with customer making decision lies in each P, it was
elucidate clearly link to satisfaction.

Sample Size:

Osahon, Kingsley. (2016) formula in this research, researcher used the to calculate the sample
size for this study: n=N/ (1+N (e2) Where n represents the sample size, Population size is
represented capital N and e2 Represent the level of precision (± 5%, or at the 95 % confidence
level). The sample size, calculates method for this research as: N = 350/ (1+350 (0.05²)),
Therefore n = 186.7. Therefore, the researchers take 186 respondents as sample size for this
study.

Demographic profile of sample:

Demography is the quantitative study of populations. Demographic data, in their simplest form,
refer to six interacting dimensions: - Births, deaths, migration (and resulting population growth),
Age, sex, income, educational level, occupation, spatial distribution and resulting population
structure (Bureau Haub, 2009).Customer from MUMBAI who used Xiaomi mobile were asked
to rate the level of agreements based on a five point of the Likert rating scale with providing the
various statements that impact of making decision that could be relationship between products,
price, place and promotion and their making decision towards satisfaction to buy Xiaomi mobile.

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FIVE-YEAR FINANCIAL SUMMARY:

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MANAGEMENT DISCUSSION AND ANALYSIS

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Revenue:

Revenue increased by 19.4% to RMB245.9 billion for the Reporting Period, compared to
RMB205.8 billion for the year
ended December 31, 2019. The following table sets forth our revenue by line of business for the
Reporting Period and
the year ended December 31, 2019:

Smartphone:

Revenue from our smartphones segment increased by 24.6% from RMB122.1 billion for the year
ended December 31, 2019 to RMB152.2 billion for the Reporting Period, driven by growth in
both sales volume and ASP. We sold 146.4 million smartphone units for the Reporting Period, an
increase of 17.5% from 124.6 million units for the year ended December 31, 2019. The ASP of
our smartphones increased by 6.1% from RMB979.9 per unit for the year ended December 31,
2019 to RMB1,039.8 per unit for the Reporting Period. The increase in ASP was primarily due
to the increase in sales of our 5G and mid- to high-end smartphone. In 2020, we sold

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approximately 10 million premium smartphones globally with retail prices at or above
RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets.

IoT and lifestyle products:

Revenue from our IoT and lifestyle products segment increased by 8.6% from RMB62.1 billion
for the year ended December 31, 2019 to RMB67.4 billion for the Reporting Period, primarily
due to the strong growth in demand of certain IoT products, such as robot vacuum cleaners,
routers and TWS earbuds. Revenue from smart TVs and laptops decreased by 7.0% from
RMB24.2 billion for the year ended December 31, 2019 to RMB22.5 billion for the Reporting
Period, mainly due to lower sales activities caused by supply constraints.
Internet services:

Revenue from our internet services segment increased by 19.7% from RMB19.8 billion for the
year ended December 31, 2019 to RMB23.8 billion for the Reporting Period, mainly due to the
increase in the revenue from advertising and gaming businesses. Our MIUI MAU increased by
28.0% from 309.6 million in December 2019 to 396.3 million in December 2020.

Others:

Other revenue increased by 38.3% from RMB1,814.2 million for the year ended December 31,
2019 to RMB2,508.9 million for the Reporting Period, primarily due to the increase in revenue
from the installation services provided for certain IoT products.

Cost of Sales:

Our cost of sales increased by 18.0% from RMB177.3 billion for the year ended December 31,
2019 to RMB209.1 billion for the Reporting Period. The following table sets forth our cost of
sales by line of business for the Reporting Period and the year ended December 31, 2019:

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Smartphones:

Cost of sales related to our smartphones segment increased by 22.6% from RMB113.3 billion for
the year ended December 31, 2019 to RMB139.0 billion for the Reporting Period, mainly due to
the increased sales of our
smartphones.

Gross Profit and Margin

As a result of the foregoing, our gross profit increased by 28.7% from RMB28.6 billion for the
year ended December 31, 2019 to RMB36.8 billion for the Reporting Period. The gross profit
margin from our smartphones segment increased from 7.2% for the year ended December 31,
2019 to 8.7% for the Reporting Period. In 2020, we launched several popular models such as Mi
10 series, Redmi 9 series and Redmi Note 9 series which were highly regarded in the market for
their outstanding performance. The gross profit margin from our smartphones segment increased
in 2020, mainly due to the improvement of product mix and improved operating efficiencies for
certain smartphone models. The gross profit margin from our IoT and lifestyle products segment
increased from 11.2% for the year ended December 31, 2019 to 12.8% for the Reporting Period,
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mainly due to the strong growth in our certain IoT products with higher gross profit margin. The
gross profit margin from our internet services segment was 61.6% for the Reporting Period,
compared with 64.7% for the year ended December 31, 2019, mainly due to the decline of gross
profit margin from our fintech business. In 2020, gross profit margin of our fintech business
declined due to the increased provision for loss allowance during the pandemic. As a result of the
foregoing, our gross margin increased from 13.9% for the year ended December 31, 2019 to
14.9% for the Reporting Period.

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ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

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 5. COMPANY PROFILE

History and Funding:

Xiaomi managed to take the electronics and mobile world by storm in 2014. Their flagship
device, Mi4 was one of the best-selling phones in history and paved the path for mid-level
mobile phones and their market base.
The company was founded by eight partners in the year 2010 and was funded by a
Singapore based investment group called Temasek Holdings and Chinese venture
capitalists called IDG Capital along with Qiming Venture Partners. They were one of the
first companies that were endorsed by core mobile companies, Qualcomm. Xiaomi
continues to use their processors for their devices even today.
One of the first devices that came out of Xiaomi was Mi2. This was the first device that
featured the revolutionary and famous Qualcomm Snapdragon chip. The device sold close

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to 10 million units within the first 11 months of its inception, thus allowing Xiaomi to gain
a foothold in markets such as Australia, United States, Europe and New Zealand.

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. Degree of rivalry and competitive landscape

The Chinese mobile phones market is dominated by a small number of large-sized companies,
such as Apple, Huawei, BKK and Xiaomi. Rivalry is expected to increase due to the limited
number of competitors and the high penetration of mobile phone devices, which intensifies R&D
expenses and price competition. The introduction of smartphones has added another competitive
dimension, with Apple and those using the Android operating system (including HTC, LG,
Samsung and Sony) establishing themselves as major players. While Apple operates
independently of many players in the market by virtue of its closed iOS ecosystem – which itself
serves as a means of differentiation and appeal, especially amongst its large and loyal customer
base – the open Android platform is much more fragmented and competitive. In the Android
sector, budget devices sit alongside high-end, flagship smartphones from the major
manufacturers, varying in form, screen size, build quality, processing power and, most
importantly, price. As far as Windows' mobile operating system is concerned, Microsoft has a
competitive disadvantage due to its low acceptance by consumers. Particularly, the majority of
mobile applications are available only in iOS or Android operating systems, which makes
consumers less inclined towards a Microsoft mobile purchase. However, as the market
progresses, the differentiation that premium devices hold over their budget competitors will
diminish. Huawei, known for providing cheap smartphones, which provide excellent value for
money, now also produces some of the most premium devices in the market. This has helped
enhance the firm's reputation amongst consumers.

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 6. ABOUT XIAOMI

Xiaomi is a Chinese electronics company headquartered in Beijing established by Lei Jun in

2010.  It is currently one of the top four smartphone manufacturers in the world, just after Apple,
Samsung, and Huawei. 
In 2010, Xiaomi was set up as a start-up with the purpose of producing mobile gadgets and
launched an innovative operating software product based on Android called MIUI in the Chinese
markets. Today, It designs and manufactures top-of-the-line smartphones, mobile phones,
laptops, home appliances, and many other products. 
The smartphone entered the Indian subcontinent back in 2014, just three years of its existence
and went on to earn the tag, “India’s No.1 smartphone brand”.

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Xiaomi has been a listed entity on the Hong Kong Stock Exchange since 2018 and has various
subsidiaries under its name. It was also the youngest company to get featured in the list of
Fortune Global 500 in 2019.
Now that you know about Xiaomi, let us now go through its target market in the coming section.

Target Market and Segmentation Strategy of Xiaomi:

Xiaomi’s market positioning is aimed at bridging the gap between the mass market and the high-
end segment of the market. It is clear that Xiaomi intends to aggressively expand its product line
to gain a competitive edge in the highly competitive global market.

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Target Audience of Xiaomi

Smart Phones

Brand Target Market

Redmi General Customers

Poco Customers with a budget of more than ₹20k

MI Customers with a budget of more than ₹30k

Black Shark A Gaming Smartphone

Smart Watches

Mi Smart Bands General Customers

Redmi Watch General Customers

Mi Watch Customers with a budget of more than ₹30k

Other Offerings

Laptops, Speakers, Earphones, Wifi Routers, Powerbanks and related accessories

Over the years, it has enhanced its product portfolio and now offers a wide range in not just the
smartphone category but also in various other categories.
Now that you have an idea of what Xiaomi offers and who it targets, let us now understand more
about Xiaomi by going through its marketing mix.

Marketing Mix of Xiaomi:

Marketing mix model is a practical way of conceptualizing how you should approach marketing
in a business. The framework of this model is based on the parameter of 4Ps: Product, Price,

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Place and Promotion. This framework helps in understanding what a business is offering and
how it is offering to its target audience and target market.
So let us know go the first 4Ps in the comings section concerning Xiaomi’s offerings.

Product Strategy of Xiaomi:

Xiaomi entered the Indian market through aggressive pricing and impressive product offerings
but has now found its niche in the sub-continent being first amongst the many to sell
smartphones that are feature-packed and priced at the level of entry-level smartphones. 
This has led to a lucrative segment of the low-cost smartphone segment having a mass appeal
due to Xiaomi’s high offerings at affordable prices.

And now that the company has expanded into other markets, from smartphones to TVs, it’s clear
that it has no intention of slowing down its revolution toward dominating the Indian markets.

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Other offerings of Xiaomi

Xiaomi’s product strategy is a core part of its business model. It develops smartphones and
related products that are consistently at the top of the market and then uses its massive fan base
and innovative marketing techniques to sell those phones.

Price Strategy of Xiaomi:

The core business model of the brand is built on expanding its product offerings through
aggressive price reduction. This pricing strategy is aimed at gradually gaining a foothold in the
market by providing low-cost alternatives to more expensive products without compromising on
quality or features.
As of 2020, the price of Xiaomi’s smartphone range from as low as ₹5,000 to as high as  
₹200,000. This affordable pricing strategy has been a crucial pivot for the company, making
them India’s no.1 smartphone brand.

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Place and Distribution Strategy of Xiaomi:

Xiaomi is now present in over 100 countries with an affordable range of smartphones, smart
TVs, laptops, wearable and gaming devices. With a global footprint, great product quality at
competitive prices, the company is expanding its reach to various new markets every year.
Most of the sales are done online rather than offline which has also proved to be beneficial for
the manufacturer and as well as the consumers. However, it has shifted its primary focus towards
expanding into offline markets as well.

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With substantial investments in product and technology developments, Xiaomi aims to establish
its presence in the lucrative international markets through heavy expansions and gaining market
share through aggressive pricing tactics and marketing strategies.

Promotion Strategy of Xiaomi:

In its starting years, Xiaomi relied very little on marketing. But now, it has shifted to a more
active approach in promotional activities as it focusing on key regions like the US and Europe,
India as well as China itself. 
Xiaomi’s promotion strategy changed dramatically around 2016. The company realized that it
needed to expand beyond just selling its products and started focusing specifically on India and
China — two countries with large populations but limited disposable income.

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Its recent marketing moves come after years of gradually gaining prominence in the mobile
phone market through its low-cost phones. 
Selling smartphones at affordable prices has helped Xiaomi gain a significant following in
countries like China and India previously and now it hopes to expand its influence across the
globe through expanded distribution and better marketing tactics.

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Now that you are familiar with how Xiaomi has framed upon the marketing mix model, let us
now go through its marketing strategies in the following sections.

Marketing Strategy of Xiaomi:

From the very beginning, Xiaomi has attempted to save its costs by reducing marketing spends.
From having almost zero budget for advertising to building a strong fan base, Xiaomi has
succeeded in making its marketing extremely unique and personal.  
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With rising competition in the market as well as changing customer behaviors, the company has
started focusing on its marketing efforts by increasing its marketing spends year on year.
With that being said, let us go through some of the common as well as unique marketing
measures used by Xiaomi to maintains its relevance in the market.

SWOT Analysis of Xiaomi:

SWOT analysis as shown in Figure 5: The SWOT Analysis Tool, is a detailed structured planning
method that explains the internal strength (S), weaknesses (W), and the external opportunities
(O) and threats (T) of a particular organization. This tool helps a company achieve the
organizational objectives.

. The SWOT Analysis Tool

Source: Author’s compilation

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Strengths

Xiaomi has an advantage in smartphones. The first is the quality of the mobile phone, which has
reached the high level of international manufacturers, for example, mobile phone manufacturers
as Motorola and Samsung (Chen et al. 2019). The size of the Xiaomi mobile phone is very in
line with Chinese preference, for example, the screen size is 4 inches, such a size can improve
the user experience. Moreover, the design of MIUI is in line with the habits of most Chinese
users. The Xiaomi mobile phone uses a large battery of 1930 mah, which exceeds the battery
capacity of mainstream smartphones by nearly 30%, and the Xiaomi mobile phone can support
up to 450
hours of network standby and 15 hours of continuous talk (Russell, 2017). "No matter
how to grab the handpiece, it will not affect the signal of the Xiaomi mobile phone",
forms a powerful advantage of the Xiaomi mobile phone. The choice of Xiaomi's sales
method is online sales. This can save costs, and online shopping is a fashionable way
of consumption. The online booking method creates afeeling: scarcity. If you refer to the
mobile phone sales at the same price, Xiaomi'sbooking is very hot. Xiaomi announced
that it currently only supports online purchases on Xiaomi. It supports online payment
and cash on delivery. Cash on delivery is currently only supported by cash payment. In
the future, Xiaomi will open a POS card swipe service. In addition, for online payment
methods, if the order amount is greater than US$28, shipping will be waived. The core
of personal brand implantation is to use Lei Jun as the product spokesperson for Xiaomi
mobile phones. As a successful internet person and angel investor, Lei Jun'sstruggle
history, professional experience and success stories have a great appeal to the younger
generation, so his personal charm and influence have strengthened the Xiaomi mobile
phone
brand (Xiao et al. 2017).

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Weakness

There is no front in Xiaomi phones. This is a shortcoming that Xiaomi phones cannot avoid and
cannot make up for by post-optimization. The times are evolving, and technology is improving
(Xiao et al. 2017). The front camera naturally has its value. For example, the latest version of
mobile phone QQ supports video calls with PCs. From this point of view, the front camera is still
very important. The screen of Xiaomi's mobile phone is a little warped; after using it for a long
time, the mobile phone will lose paint; the gap of the back cover of the mobile phone is not
closed tightly; the mobile phone body shakes and there is a noise; when buying, there are no
headphones in the original accessories (Russell, 2017). In the Xiaomi Forum, there were also
many problems found, including the slow delivery speed of logistics, the paint falling off, the
camera unable to take pictures, frequent crashes, the inability to turn on the phone, and the
serious sound of broken calls. Because Xiaomi started late, just over a year after its
establishment, when smartphones such as HTC, Samsung, and iPhone occupy most of the market
share, Xiaomi ’s mobile phone is obviously insufficient in market share and market share, and
the word of mouth has not been established in the public ’s mind (Chen et al. 2019). In addition,
Xiaomi’s mobile phones frequently leak light, paint, frequent crashes, broken calls, and
incomplete after-sales services. Therefore, these problems are a challenge to Xiaomi's reputation.
Xiaomi mobile phone currently announced three major after-sales channels: telephone customer
service, micro-blog service and online customer service. However, telephone customer service is
generally recognized as almost impossible to enter, and messages to the microblogging
service and online customer service are almost dead, and users who encounter mobile phone
problems face nowhere to complain (Chen et al. 2019). The customer service staffs of Xiaomi
also said that under normal circumstances, returns and exchanges only take 3 to 5 working days,
but they need to go through "application for replacement, cross-region mobile phone express,
mobile phone engineer detection, and re-delivery of mobile phones (Russell, 2017). Such steps
may take at least 6 - 8 working days. This also makes it difficult for the Xiaomi mobile phone to
complete the repair within five days. Complete the repair within five days.

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Opportunities

Modern smartphones are gradually becoming more intelligent and multifunctional. Therefore,
the market demand and requirements for smart phones will be higher (Retnowulan, 2017). There
are only 78 companies doing RMCPU in China, and the price will fall linearly, which promotes
the computing power and cost optimization of the entire smartphone. This is a very big driving
force for the entire mobile phone industry. The Xiaomi mobile phone cooperated with China
Unicom in the early stage of its release in 2011. After launching the China Unicom contract
machine, in 2012, the Xiaomi mobile phone turned to China Telecom to jointly launch the
CDMA version of the Xiaomi mobile phone. In addition, Xiaomi will surely gain many benefits
in its cooperation with China Unicom and China Telecom (Kline, 2017). Whether it is dealing
with the interests of telecommunications providers or developing value-added package services
with China Telecom and China Unicom, these strategies have promoted the promotion of Xiaomi
mobile phones. The combination with the telecommunications provider is the highlight of
Xiaomi's technology strategy (Sitompul, 2019). China's 5G market ushered in a new pattern.
Xiaomi’s entry into the 5G smartphone market is toleverage on this extremely advantageous
factor. There is currently no mobile phone brand in China that rivals large foreign companies.
The development of Xiaomi represents the future of national enterprises. China has the world's
largest mobile market with unlimited potential. In the short term, there are no opponents with the
same configuration and the same price. The price of the Xiaomi mobile phone is lower with the
same configuration. In the mobile phone industry of the buyer's market today, low prices mean
more sales, which also means an increase in market share (Kline, 2017).

Threats

The big question is how to make Xiaomi stand out in the fierce smart phone competitive market.
Regardless of the design of the Xiaomi mobile phone or the MIUI system, the independent
property rights barriers are not very high. Xiaomi's hardware applications are interconnected
(Kline, 2017). In addition to Qualcomm, other partners of Xiaomi's mobile phones are also top-
level suppliers of meta-components, including Sharp, Samsung, TPK, Wintek and Desai. Lei

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Jun's mobile Internet layout of "terminal + content + service" has also taken shape. With the
support of the top suppliers, Xiaomi, a domestically produced mobile phone, has also shown a
weakness that its independent property right barriers are not high, which undoubtedly poses a
major threat to the future development of Xiaomi phones. The research and development of
Xiaomi mobile phone products adopts the mode of user participation. Of course, this can also be
understood as a hype. It is a low-cost and efficient hype marketing, but this is indeed a new
product form. After the release, Xiaomi will face the crisis whether it will disappear quickly.
Secondly, "Mihei" (as opposed to "Rice Noodle", a group that specifically questioned Xiaomi)
tried to use and fabricate various negative news to destroy the image of Xiaomi's mobile phone
(Sitompul, 2019). In addition, due to the defects of Xiaomi's mobile phone and the question of
users' after-sales service, the media and the general public are actively discussing the Xiaomi
mobile phone, and public opinion has exerted great pressure on the future development of
Xiaomi mobile phone. High-end brands of mobile phones have seized the domestic mobile
phone market through price reduction measures. Although they cannot sell at a low profit like
Xiaomi in the short term, in the near future, Xiaomi's cost-effectiveness will
continue to weaken.

What are the strengths of the leading players?

Apple and Xiaomi use both direct and indirect distribution channels to effectively reach its
customers in the consumer, small and mid-sized business, and education, enterprise, and
government markets. In most of its major markets, the company sells its products and resells
third-party products directly to consumers and small-and mid-sized businesses through its retail
and online stores and direct salesforce. The company’s retail stores are typically located in high
traffic locations in shopping malls and urban shopping districts. By operating its own stores and
locating them in desirable high-traffic locations, the company is better positioned to ensure
improved customer buying experience and attract new customers. The stores are designed to
simplify and enhance the presentation and marketing of the company’s products and related
solutions. BBK Electronics offers its mobile phones through numerous different subsidiaries and
brands giving the firm a diversified mobile phone business model. This means that if one of the

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brands suffers, the company can rely on its other brands to sustain its performance in the mobile
phone market.

Revenue of Xiaomi Ltd

Source: Statista, Inc. (2019b)

Financial ratio analysis;

Our analysis in Figure 3 indicates that the Xiaomi’s business has maintained a safe level of
current assets to meet its obligations, with the current ratio at 1.6x currently and a return to
equity of about 12.5%. For Tech companies, this ratio is within a sensible range since there is an
enough cash cushion without leaving too much capital idle or in low-earning investments
(Gartner.com, 2018). With a debt-to-equity ratio of 15%, Xiaomi's debt level may be prudent.
This range is considered safe, as Xiaomi is not taking on too much debt obligation, which can be
restrictive and risky for equity-holders (Gartner.com, 2018). Risk around debt is very low for
Xiaomi, and the company has the ability and headroom to increase debt if needed going forward.

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Low debt indicates room for improvement as its cash flow covers less than a quarter of its
borrowings, which means its operating efficiency could be better. However, the company
exhibits an ability to meet its near term obligations, which is not a surprise for a large-cap.

.Financial Ratio analysis of Xiaomi

Source: Xiaomi Ltd. (2019)

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Strategy implementation:

1. Building a "three-stream" industrial ecosystem

The main purpose of constructing the ecosystem of the entire industrial chain is to fully
control the information flow, capital flow and logistics between the management of the
entire industry, grassroots and customers (Fortunato et al. 2019). Xiaomi needs to
continue to expand production and market share. When Xiaomi controls the ecosystem of
the entire industry, the manufacturing of accessories for Xiaomi mobile phones can
achieve economies of scale, thereby reducing costs.

2. Building a network platform

The specific method of constructing a successful network platform is to create a platform

through a high market share, so that a virtuous circle can be formed. Take Amazon as an
example: its core commodities are advanced terminals and excellent content, the first is to sell
electronic reading as a low price device, through the Kindle terminal to sell more e-books, and
then profit from the sale of e-books, and users can get more content at a cheaper price (Fortunato
et al. 2019). Similarly, Xiaomi can use this form to form a virtuous circle. First, Xiaomi can gain
a place in the market based on the characteristics of low prices and high-quality products. At the
same time, the Xiaomi team develops various software and services when the market holds.
After the rate reaches a certain level, Xiaomi can create a network platform belonging to Xiaomi,
learn the platform operation mode of the app store, and encourage the majority of software
developers to continue to develop excellent software to obtain benefits. With availability of such
services, Xiaomi mobile phones will become more competitive, and then further attract
developers to develop software, and finally form commercial barriers.

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Cost leadership strategy

Regarding product development costs, Xiaomi needs to strengthen MIUI system development
and accelerate cooperation with related manufacturers. The advantages of the MIUI system and
the cooperation of the manufacturers have created huge advantages (Leavy, 2016). The
development of the core device of the MIUI system has not only created a basis for cooperation
between enterprises, but also reduced the research and development costs of Xiaomi Company
and to achieve differentiation of its products. Xiaomi should actively carry out marketing
cooperation with third parties to improve the credibility of Xiaomi products. Reduce sales costs
through Weibo marketing and website marketing (Xie et al. 2016). At present, Xiaomi's
aggressive marketing and after-sales service strategies have brought some negative effects to
Xiaomi. Xiaomi product logistics is a logistics company contacted by Xiaomi. On the basis of
ensuring product quality, it should try to reduce logistics costs, create lower logistics
transportation, reduce logistics costs, and achieve cost leadership (Song et al. 2019). In the case
where the core part is almost the same as competing products, Xiaomi can create different brand
images to obtain the advantages of brand differentiation (Xie et al. 2016). This can make
Xiaomi's service and user experience a unique competitive advantage. Eventually, Xiaomi will
have more
fans and users (Rawal et al. 2017).

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Differentiation strategy

In terms of marketing, compared to the common marketing methods used by general mobile
phone manufacturers such as TV promotion and outdoor advertising, Xiaomi mobile phones can
target mobile phone enthusiasts and then comprehensively adopt multiple marketing methods
(Fortunato et al. 2019). Xiaomi Technology can promote Xiaomi mobile phones through new
Internet information dissemination channels such as Weibo and forums, and allow these
customers to participate in the development of Xiaomi mobile phones, which can provide many
pertinent opinions for the development of Xiaomi mobile phones. The most important point in
the personnel differentiation strategy is that Xiaomi Technology is established by excellent
software engineers from well-known IT companies at home and abroad, such as Microsoft,
Google, Motorola, etc., and has obvious technical advantages.

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Value chain

The value chain at an organizational level is the combination of various activities, which results
in the business profits or margins as shown in Figure 4 of Porter’s Value Chain Model. It is the
combination of vertical and horizontal components. Vertical components is also termed as
‘primary activities’ inclusive of supply chain management, Operations, Sales and Marketing
works towards the promotional aspects and selling the product to the customer by creating wide
range business value; Services are the all types of activities performed effectively to deliver the
product after customer buys a product (Sun et al. 2018). The horizontal components are called as
support activities inclusive of Infrastructure which are the combination of basic functions needed
for an organization such as finance, risk and compliance, legal, quality assurance and control,
PMO or strategic management, human resource management and so on (Sun et al. 2018).
Technology relates to the types of software, hardware, machineries, systems, technical
knowledge acquired and used to generate results from the internal resources (inputs); Human
Resource Management includes recruitment and hiring, Talent Development and Trainings,
Performance Management, Compensation and Employee Benefits, Health Benefits etc.; and
Procurement is responsible for acquiring services or goods from the external vendors or sources.

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Porter’s Value Chain Model

Source: Xiaomi Ltd. (2019)

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 7. AFTER SALES SERVICE AND FUTURE PROSPECTS

After Sales Service

Offering advanced technology products and positioning itself on the technology platform will not
help a company sell its products if it fails to give proper after-sales-service. With a focus on
strengthening the satisfaction level of the consumer, Xiaomi technology (Shenzhen) Co. Ltd. has
launched its 3S — Speed, Smile and Sure — campaign. As part of this customer service
program, the company is working on a two-pronged strategy. This involves: one, improving the
service infrastructure by setting up customer service plazas
in key metro locations; and two, improving the skill levels of technicians by setting up a
training school with a technical evaluation system for after sales service engineers.Till now, most
of the players in the sector have been professing that it's the relationship with
the customer that matters. However, with the competition increasing, customer satisfaction is fast
becoming a core issue,'' an industry analyst pointed out.

Promotion

Offering advanced technology products and positioning itself on the technology platform will not
help a company sell its products if it fails to communicate properly with the potential customers.
To raise brand awareness and create strong, favorable and unique brand associations, Xiaomi
adopted various marketing strategies like celebrity endorsements, corporate advertisements,
highlighting its technological superior goods and many promotional schemes.

Advertising

Xiaomi is involved in aggressive marketing and advertising of its product to develop

attitudes,create awareness, and transmit information in order to gain a response from the target

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market.Their main advertising channels include 'media' such as newspapers (local, national,
free,trade), magazines and journals, television (local and national) cinema, outdoors advertising
(such as posters, bus sides). The initial advertisements communicated presence of Xiaomi in
worldwide markets and its dominance in those markets. To increase its brand awareness, Xiaomi
went in for celebrity endorsements. Initially, the company signed Hindi film actor, Amitabh
Bacchan to endorse its brand. But now on a large scale level, particularly worldwide level,
Robert Downey Jr, has been the brand ambassador with the reveal of Xiaomi 7 series.

Sales Promotion

Along with advertisements, Xiaomi also focuses on promotional schemes to increase its sales. In
October 2013, Xiaomi launched its highly successful promotional scheme, the ladies first
campaign. This offer instantly boosted the sales of the company. The campaign was launched on
a worldwide level. Under this scheme, female fans were asked to share pictures of themselves
with the Xiaomi logo emblazoned on either a piece of paper they’re holding or that’s
drawn/painted on their hand/face/wherever. Submissions would be judged by the Xiaomi staff
members, and the 50 most well-liked women would receive an invitation to spend $300-$350 on
the company’s Xiaomi One smartphone and a company T-shirt.

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8. DATA ANALYSIS AND INTERPRETATION

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 9.FINDINGS

This research paper describes the analysis of data and report the results of researcher has found.
The responses were calculating by Statistical Package for Social Sciences (SPSS) software, in
line with gender, age, occupation, income, education level and marketing mix strategy of
product, price, place and promotion related to Xiaomi mobile phone in mumbai. The researcher
uses descriptive statistical tests to analysis frequency of demographics and the frequency analysis
determined by distribution of the respondents of target population in in mumbai. Second, the
researcher analyzes the frequency of independent variable hypotheses of 4Ps marketing mix such
as product, price, place or distribution, promotion and dependent variable of their respondent’s
data. Thirdly, the researcher describes the correlation statistical test to study Mean and Std.
Deviation marketing mix strategy of Xiaomi mobile phone towards making decision and
customer satisfaction. Finally, the researcher mentions both descriptive statistic and correlation
to analyze the Mean and Standard Deviation of how making decision to purchasing Xiaomi
mobile phone of customers satisfaction.

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 10. CONCLUSION

The rapid development and success of Xiaomi Technology has attracted everyone's attention.
Xiaomi mobile’s phone is a smartphone manufacturer that entered the mobile phone market in
2011 (Safiya and Shylesh, 2019). In just three years, it has increased its sales from 500 million
Yuan to 30 billion Yuan. In the first half of 2014, Xiaomi sold 26.11 million mobile phones, a
year on-year increase of 271%, and completed 60 million sales throughout the year. There are
important reasons for the success of Xiaomi: Xiaomi has relied on the innovation of various
modes implemented by Internet thinking. Lei Jun, chairman of Xiaomi Technology, admitted
frankly, as a smartphone manufacturing company, the Internet is the wing of Xiaomi. The
Internet is a way of thinking and a way of thinking about the future (Rawal et al.2017)

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 11. BIBLIOGRAPHY

INTERNET:

WWW.GOOGLE.COM

WWW.BUSINESS-STANDARD.COM WWW.WIKIPEDIA.COM

II NEWSPAPERS:

BUSINESS STANDARD

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