Mkt550 Global Marketing: The Growth Assessment Answers

Answer:

A. Haier Group has emerged as a supreme home electronic appliance maker in the world. The general manager of Haier exhibited great amount of management talent and he laid stress on the element of innovation along with quality assurance that helped Haier in gaining a prominent position within the world market.

B. The key factor that helped in the rise of Haier is its independent intellectual property and participation in the set up pertaining to 23 international standard. Haier has been successful in developing new products that cab suit diverse preference pertaining to various areas. Haier has been instrumental in making different variety of the home appliance in around 100 product lines like freezer, air conditioner, washing machine and microwave ovens (Hill et al., 2017). The primary factor that facilitated the rise of Haier as a white goods manufacturer is foreign direct investment that helped the company in the arena of expanding in the overseas markets. It has taken recourse to advanced technology that has helped it in earning international brand name.

C. The global expansion of Haier was greatly facilitated by the joint venture that it had with Indonesia in the year 1996 and the acquiring of the Italian fridge factory in the year 2000. The setting up of the design centre within Boston and the marketing centre within New York helped in making Haier a global white goods manufacturer (Lewin, Välikangas & Chen, 2017). The US subsidiary of China took advantage of the low costs within China by buying components from that of Haier- China. Localisation strategy of Haier coupled with the operational flexibility has helped in the rise of Haier as an international white goods manufacturer. A factor that helped in the growth of Haier as white goods manufacturer is the responsiveness of the company towards the needs pertaining to national markets. Haier made computer-controlled refrigerator which was customised for that of the United States and energy-economised home appliances for serving the customers in Italy. The main factor that helped in the evolving of Haier as global goods manufacturer was its efforts to adapt to various countries along with different cultures.

References:

Hill, C., Hult, T., Wickramasekera, R., Liesch, P., & MacKenzie, K. (2017). Global Business Today Asia-Pacific Perspective. McGraw-Hill Education.

Lewin, A. Y., Välikangas, L., & Chen, J. (2017). Enabling open innovation: Lessons from Haier. International Journal of Innovation Studies, 1(1), 5-19.