Research On Midea's Competitiveness In Indian Market

As one of the important countries of China's "Belt and Road" initiative,India has the second largest population in the world and the seventh largest land area in the world.In contrast,India has a low household appliance penetration rate.Unlike China's gradually saturated home appliance market,India has a huge consumer electronics market and huge room for growth.In recent years,Chinese home appliance companies have increased their investment in India,trying to find new breakthroughs in India to promote their development.This article mainly studies the competitiveness of Midea in the Indian market.First,briefly introduce the basic situation,explain the global operation status of Midea,and analyze the overall operation of Midea in the Indian home appliance market from the scale characteristics and localization of Midea in the Indian market.Then use the "Porter Competitiveness Model" to analyze the influencing factors of Midea's Indian market competitiveness,scientifically build a competitiveness evaluation index system according to the design principles of the competitiveness evaluation index system,and discuss the competitiveness of Midea in the Indian market from the aspects of market share,brand competitiveness,technological innovation ability,etc.Research shows that Midea lack a competitive advantage in the Indian market and play the role of chaser.Whether it is air conditioners,washing machines or refrigerators,Midea's market share in the Indian market lags behind that of LG Electronics,Samsung Electronics,and other international giants;Voltas,as a local Indian brand,has a high reputation in India.LG Electronics and Samsung Electronics are very popular in India by their quality products and good after-sales service.As a late entrant,Midea's brand influence is lower than both.Midea's technology innovation investment rate and the number of patents still have some gaps with LG Electronics and Samsung Electronics.Based on this,I propose suggestions to enhance the competitiveness of Midea in the Indian market,expanding sales channels,focusing on technological innovation,providing localized products,providing quality after-sales services,and increasing brand communication.Finally,looking at the world from India,it gives Chinese home appliances the inspiration to enhance their international competitiveness,strengthening cooperation with international brands,implementing localized operations,manufacturing world-class products,and accelerating the brand building of Chinese home appliance companies.