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Lead-in Case Analysis

Company Strategies with corresponding development: Refrigerators

Xinfei Refrigerator:

Xinfei is one of the earliest Chinese enterprises to produce refrigerators, founded in 1984. It was once a leader and innovator in the domestic refrigerator market. Xinfei has won the trust and love of consumers with its high-quality, high-performance, and high-efficiency products. Its advertising slogan "Xinfei's refrigerator is better than its advertising " has also deeply rooted in people's hearts. In 2005, the sales of Xinfei refrigerators reached 3 million units, with a market share of nearly 20%, becoming a well-known trademark in China. The glory of Xinfei did not last long. With the restructuring of state-owned enterprises and the intensification of market competition, Xinfei gradually lost its advantages and core competitiveness. In 2006, Xinfei was controlled by foreign investors and had multiple changes in management. Foreign investment does not understand the needs and preferences of domestic consumers, blindly changing the main products and strategies, resulting in a continuous decline in sales of Xinfei refrigerators and serious damage to brand image. In 2017, New Fly ceased production and applied for restructuring due to a broken funding chain. In 2019, Xinfei was acquired by Konka at a cabbage price to become one of its sub brands. Nowadays, it is difficult to see the presence of Xinfei refrigerators in home appliance stores.

Rongsheng refrigerator:

Rongsheng is also one of the earliest Chinese enterprises to produce refrigerators, founded in 1983. It was once on par with Xinfei and was known as "Nanrong Beifei". Rongsheng has promoted the development of the domestic environmentally friendly and energy-saving refrigerator industry with its "fluorine free and energy-saving" technology, and has created a market for fresh-keeping refrigerators with its "three temperature zones" technology. Rongsheng has achieved good results in ranking among the top sellers for nine consecutive years and successfully entered the international market. But in the early 21st century, due to a lack of core technology and innovation capabilities, Rongsheng was gradually surpassed by other brands and faced financial and management issues. In 2008, Rongsheng was acquired by Hisense Group and became one of its subsidiary brands. Hisense Group has comprehensively integrated and reformed Rongsheng, and provided sufficient resources and support. With the help of Hisense, Rongsheng has regained its vitality, not only maintaining its own brand characteristics, but also forming a dual brand operation advantage with Hisense. In recent years, Rongsheng products have continuously innovated and upgraded, gradually winning the recognition and love of consumers.

Meiling refrigerator:

Meiling is one of the earliest Chinese companies to produce refrigerators, founded in 1983, and later transformed into a refrigerator manufacturer. It was once one of the leaders in the domestic refrigerator market. Meiling has been favored by consumers for its high cost performance, high quality, and high efficiency products, and its advertising slogan "Meiling refrigerator, beautiful life" is also widely circulated. Meiling has also undergone multiple changes in equity and management. After Meiling went public in Shenzhen in 1996, the data was impressive, but with the departure of its founder, Meiling was successively acquired by Shunde Changhong and Hefei Mei and became one of its sub brands. Changhong and Midea both started as small household appliances, but they acquired Meiling, a company that produces large household appliances, which has also raised doubts from the outside world. However, under the leadership of Changhong and Midea, Meiling has also ushered in a new round of development opportunities to expand and strengthen, and has entered the fields of washing machines, air conditioning, kitchen appliances, small appliances, etc. from refrigerators, becoming an important new force in the white electricity industry.

Haier refrigerator:

Haier is one of the earliest enterprises in China to produce air conditioners. It was founded in 1984 and later transformed into a refrigerator manufacturer. Starting from this, it gradually developed into a large comprehensive electronic information industry group involving various fields such as home appliances, digital audiovisual, office products, and aviation. Haier has won the respect and trust of global users and markets with its enterprising, persistent pursuit, and continuous innovation corporate spirit, and has become one of the most internationally influential and competitive brands in China. Haier has always maintained an absolute advantage and leadership position in the refrigerator industry. It holds a high market share both domestically and internationally, and is constantly breaking sales and profit records. We not only focus on product quality and performance, but also on user experience and service.

From the above major enterprises, it can be seen that although they all focus on refrigerator production, the development of the company varies depending on the company's strategy or marketing strategy. Some have plummeted after being acquired, some have become stronger after being acquired, some have been surpassed, and some have remained at the top of the list as always. Therefore, in the process of company development, the choice of strategy is crucial.

Read and answer the following questions:

Q1: What are different company strategies or marketing strategies that each company adopted?

Q2: What are the different development situation of each company?