Myths and Realities of Innovative China the Case of Haier Company – Discussion and Conclusion

Haier’s success lies in the careful positioning of the products rather than only selling its products at the lowest possible prices. The products that accommodate the local specificities were made along with the identification of the niche markets. They are a lot of examples where Haier’s products accommodated the local requirements. In Indonesia, Haier presented power saving adaptable-voltage apparatuses due to nation’s capacity deficiencies and voltage variances. Haier presented a fridge with fold-out table in United States so as to target the scholars who are residing in dorms. Similarly in Pakistan, they modify their cooling machines to make them adaptable and efficient to extreme weather and electricity load shedding.
In China, Haier advanced a clothes washer that washes both the garments and vegetables. This model is offered to target the people of country territories. In France and Italy, Haier first sold out the iceboxes in light of strategic explanation. As the ventilation system business sector being comparatively a brand new mark was not imperative. The different item lines for example iceboxes and clothes washers were presented later following making its mark. Haier additionally presented brand new classes of products similarly as wine cellar room for American market. Initially, Haier confronted great challenge in influencing the clients regarding the handiness of this feature but later on this item has a tremendous demand in the American businesses. In nutshell, the secret of great success of Chines company lies in its innovation philosophy and localization strategy of product features and branding compaign.
The products of Haier are sold in over 100 nations. The sales of Haier’s production are about RMB 118 billion and it employees more than 50,000 workers across the world. Haier with its innovation spirit is a pioneer of Chinese enterprises globalization and brand building. It has emerged into a hefty multinational corporation, and it keeps on expanding its business in China as well as in abroad, such as North America, Europe, and Asia. Over the passage of time, Haier has advanced a noteworthy international R&D system. The ambitiousness of Haier’s plan is reflected in its innovation target: two successful intellectual patent applications every work day that dispel the image of substandard products and reverse re engineering approach of Chinese business counterparts.