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Why Meizu's Business Model is so successful?

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Meizu’s Company Overview


Meizu Technology Co., Ltd. is a Chinese consumer electronics company that was established in 2003. Headquartered in Zhuhai, Guangdong, it specializes in designing and producing smartphones and accessories. Over the years, Meizu has carved a niche for itself in the global electronics market with its innovative products. The company's primary focus is on providing high-quality smartphones that combine elegant design with robust functionality. Meizu smartphones are known for their user-friendly interface, sleek design, and advanced features. The company also offers other products like wireless earbuds, smartwatches, and power banks. Business Model: Meizu operates on a business model that revolves around designing, manufacturing, and selling consumer electronics, primarily smartphones. The company invests heavily in research and development to create innovative products that meet the evolving demands of consumers. Meizu has a strong Chinese market presence and has expanded its operations globally. The company sells its products through various channels, including online platforms, retail stores, and third-party distributors. Meizu also collaborates with various technology companies to integrate the latest technology into its products. Revenue Model: Meizu's revenue model is primarily based on the sales of its consumer electronics products. The bulk of its income comes from the sale of its smartphones, which are priced competitively to attract a broad range of consumers. In addition to smartphones, Meizu also generates revenue from the sale of accessories like earbuds, smartwatches, and power banks. The company also earns revenue from after-sales services and software upgrades. Additionally, Meizu has ventured into the Internet of Things (IoT) and AIoT (Artificial Intelligence of Things) market, creating new revenue streams.

https://www.meizu.com/

Country: Guangdong

Foundations date: 2003

Type: Private

Sector: Technology

Categories: Electronics


Meizu’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: design/aesthetics, attractiveness

Functional: quality, variety, informs, integrates, connects


Meizu’s Related Competitors



Meizu’s Business Operations


Cash machine:

The cash machine business model allows companies to obtain money from sales since consumers pay ahead for the goods they purchase, but the costs required to generate the revenue are not yet paid. This increases companies' liquidity, which they may use to pay off debt or make additional investments. Among several others, the online store Amazon often employs this business model.

Corporate renaissance:

Improving management and performance for companies of all sizes, industries, and globally via creative solutions. Alternate Capital Raising Platform is a novel method of obtaining money that connects the prospective buyer with available capital sources such as venture capital funds, angel investors, and others.

Community-funded:

The critical resource in this business strategy is a community's intellect. Three distinct consumer groups comprise this multifaceted business model: believers, suppliers, and purchasers. First, believers join the online community platform and contribute to the production of goods by vendors. Second, buyers purchase these goods, which may be visual, aural, or literary in nature. Finally, believers may be purchasers or providers, and vice versa.

Corporate innovation:

Innovation is the outcome of collaborative creativity in turning an idea into a feasible concept, accompanied by a collaborative effort to bring that concept to life as a product, service, or process improvement. The digital era has created an environment conducive to business model innovation since technology has transformed how businesses operate and provide services to consumers.

Direct selling:

Direct selling refers to a situation in which a company's goods are immediately accessible from the manufacturer or service provider rather than via intermediate channels. The business avoids the retail margin and any extra expenses connected with the intermediaries in this manner. These savings may be passed on to the client, establishing a consistent sales experience. Furthermore, such intimate touch may help to strengthen client connections. Finally, direct selling benefits consumers by providing convenience and service, such as personal demonstrations and explanations of goods, home delivery, and substantial satisfaction guarantees.

Localized low cost:

In general, this business model is appropriate for standardized goods and services with minimal requirements and low consumer expectations that may be manufactured locally and branded worldwide. However, this company concept will succeed only if the following two criteria are satisfied. The first is contingent upon a sizable market presence in mature markets' urban regions. This circumstance enables businesses to capitalize on their established brand value in developing areas. The second criterion is that the product or service generates revenue or is self-sustaining. This circumstance creates the possibility of reduced earnings in developing economies.

Reverse engineering:

It is a legally sanctioned technique of duplicating a technology in which, rather than beginning from scratch, one starts with an existing product and works backward to determine how it works. Once the product's basic principle or core idea is established, the next stage is to replicate the same outcomes using other methods to prevent (legally prohibited) patent infringement. The cost of manufacturing is significantly lowered.

Mobile first behavior:

It is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices. The term is “mobile first,” and it is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices.

Fast fashion:

Fast fashion is a phrase fashion retailers use to describe how designs travel rapidly from the catwalk to catch current fashion trends. The emphasis is on optimizing specific supply chain components to enable these trends to be developed and produced quickly and affordably, allowing the mainstream customer to purchase current apparel designs at a reduced price.

Make and distribute:

In this arrangement, the producer creates the product and distributes it to distributors, who oversee the goods' ongoing management in the market.

Reverse innovation:

Reverse innovation is a strategy that involves creating inventions in emerging (or developing) markets and then distributing/marketing them in established ones. For example, numerous businesses make goods in rising economies like China and India and then export them.

User design:

A client is both the manufacturer and the consumer in user manufacturing. For instance, an online platform could offer the client the tools required to create and market the product, such as product design software, manufacturing services, or an online store to sell the goods. In addition, numerous software solutions enable users to create and customize their products to respond to changing consumer requirements seamlessly.

Infomediary:

An infomediary acts as a personal agent for customers, assisting them to regain control over the information collected about them for marketing and advertising purposes. Infomediaries operate on the premise that personal data belongs to the individual represented, not necessarily the person who manages it.

eCommerce:

Electronic commerce, or e-commerce (alternatively spelled eCommerce), is a business model, or a subset of a larger business model, that allows a company or person to do business via an electronic network, usually the internet. As a result, customers gain from increased accessibility and convenience, while the business benefits from integrating sales and distribution with other internal operations. Electronic commerce is prevalent throughout all four main market segments: business to business, business to consumer, consumer to consumer, and consumer to business. Ecommerce may be used to sell almost any goods or service, from books and music to financial services and airline tickets.

Niche retail:

A marketing strategy for a product or service includes characteristics that appeal to a particular minority market segment. A typical niche product will be distinguishable from other goods and manufactured and sold for specialized purposes within its associated niche market. Niche retail has focused on direct-to-consumer and direct-to-business internet sales channels. The slogan for niche retail is Everything except the brand.

Product innovation:

Product innovation is the process of developing and introducing a new or better version of an existing product or service. This is a broader definition of innovation than the generally recognized definition, which includes creating new goods that are considered innovative in this context. For example, Apple launched a succession of successful new products and services in 2001?the iPod, the iTunes online music service, and the iPhone?which catapulted the firm to the top of its industry.

Remainder retail:

Remainder retail (affectionately referred to as daily deal, flash sale, or one deal a day) is an online business strategy in which a website sells a single product for a period of 24 to 36 hours. Customers may join deal-a-day websites as members and get online deals and invite through email or social media. The deal-of-the-day business model works by enabling merchants to advertise discounted services or goods directly to the deal company's consumers, with the deal company receiving a cut of the retailer's earnings. This enables merchants to foster brand loyalty and rapidly liquidate excess inventory.

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