Research On Xiaomi Smart Home Competition Strategy

In the era of rapid development of the Internet of Things,the smart home business has brought about tremendous changes in the business model of the traditional industry.With the rapid development of technologies such as Internet of Things technology,cloud computing and big data,the vigorous implementation of national policies and the continuous improvement of residents' pursuit of quality of life,smart homes satisfy consumption by providing a more comfortable,safe,environmentally friendly and convenient living environment.Demand,the market prospects are very broad.The competition among major enterprises in the smart home market is intensifying,and how to maintain their market position and how to adapt to the rapid development of the Internet of Things era is crucial.Based on the case study of Xiaomi's smart home business,the competition strategy adopted by Xiaomi Company and the ecological chain layout under the trend of Internet of Things are discussed and analyzed,which provides reference and suggestions for the development and application of other enterprises in the Internet of Things era..Through case analysis,literature analysis method,PEST analysis tool method is used to study the favorable political environment,economic environment and social environment of Xiaomi Company's smart home market and its short technology.Through SWOT,analyze the advantages,disadvantages,opportunities and threats of Xiaomi Company in the current market competition environment.Xiaomi should use the advantages of the existing mobile phone market to actively transform it into a brand of smart home users,enhance online and offline marketing promotion,use strategic alliances to seize market share,and use existing ecological chain products as users.Provide a better service closure and increase user stickiness to protect against competitors' threats.Through the analysis and research of multi-faceted market conditions,Xiaomi Company is more suitable for the combination of cost leadership strategy and differentiation strategy,and implements investment and optimization in terms of technology level,user value,resource integration and marketing channels.