【品牌战略】老麦帮三星对海尔的分析.pptx

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1、White Goods Competitor Assessment Haier Samsung Electronics China (SEC China)August, 2001CONFIDENTIALThis report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKi

2、nsey & Company. This material was used by McKinsey & Company during an oral presentation; it is not a complete record of the discussion.Samsung010620BJ-HaierCONTENTS 1. Background informationLocationStarting yearIPO date Number of employeesBrand valueMarket shareSales revenue Equity structureEra ana

3、lysis4. Value chain strategy5. Organization and ownership6. Financial performanceFocus onMarketing, advertising and promotionDistribution (channel and sales force)Organization structureSales Profit 2. Strategy 3. Product/market Corporate strategyKey product offeringsMarket position Key customersValu

4、e propositionGeographic focusPricing1Samsung010620BJ-HaierCONTENTS 1. Background informationLocationStarting yearIPO date Number of employeesBrand valueMarket shareSales revenue Equity structureEra analysis4. Value chain strategy5. Organization and ownership6. Financial performanceFocus onMarketing,

5、 advertising and promotionDistribution (channel and sales force)Organization structureSales Profit 2. Strategy 3. Product/market Corporate strategyKey product offeringsMarket position Key customersValue propositionGeographic focusPricing2Samsung010620BJ-HaierBACKGROUND INFORMATION Source: Annual rep

6、ort; analyst reports; web site; Yuegang Information Daily Location: QingdaoStarting year: 1984IPO date: Listed refrigerator business in November, 1993Brand value (2000): RMB 30 billionMarket share: Refrigerator: 31%; Washing machine: 29%; Air Conditioner: 20%; Microwave: 2%Number of employees: 30,00

7、0Equity structure:Key shareholdersPercentageHaier GroupHaier Electronic International Co,. Ltd 31.44%17.93%Sales Revenue (2000): RMB 40.6 billion3Samsung010620BJ-HaierHAIERs DEVELOPMENT WENT THROUGH THREE STAGESSource: Haiers website, literature searchBrandingDiversification and expansionGlobalizati

8、on1984 - 19911992 - 19981998 - Key initiativeBuilt a strong brand name in refrigerators through a well deve-loped TQC systemDiversified the product portfolio to avoid having all the com-panys eggs in one basket through mer-gers and acquisitionsTo build an international brand name Aspires to become f

9、ortune 500Key resultsWon the first prize in the most favorite light industry products refrigerators” 5 years in a rowWon the state prize for quality managementPresented with the customer satisfaction cup by Chinas customer satisfaction movement congressAcquired 14 enterprises under the eating dorman

10、t fish strategy. Successfully turned these businesses around by leveraging Haiers brand and introducing Haiers OEC managementExpanded product portfolio from 1 product to over 9,000 products in 42 categoriesSold products to over 160 countries and regions and established more than 38,000 sales outlets

11、 across the world4Samsung010620BJ-HaierHaiers brand value in 2000: RMB 30 billionHAIERs BRAND BECAME TREMENDOUS INTANGIBLE ASSETSource: Literature search, web siteExamples of Haiers successful investment with its brandAcquired Qingdao Red Star Electronic Company and changed its washing machines bran

12、d into Haier. With the help of OEC management, quickly turned the company into a profitable business. Haier became the No. 1 brand for washing machine the next year and enjoyed the highest market shareAcquired controlling shares of Shunde Washing Machine Factory with Haier brand and quickly turned a

13、round the businessTook controlling shares of Hangzhou Haier Electronic Company with Haier brand and developed Haier series of color TV5Samsung010620BJ-Haier Source: WebsiteKitchen appliances RefrigeratorFreezerMicrowaveGas range Small appliances Electric ironVacuum cleaner Ventilating appliancesAir

14、conditionerRange hoodAir purifier Cleaning appliancesWashing machineElectric water heater HAIER OFFERS BROAD RANGE OF PRODUCTS Haiers key product offerings Mobile handset Telecommunications Brown goods Color TVVCDTelephonePCPDA IT6Samsung010620BJ-HaierHAIER HAS SUCCESSFULLY EXPANDED INTO GLOBAL MARK

15、ETSource: Annual reportDevelop global distribution network62 distributors and around 38,000 outlets across the worldSet up production facilities overseasSet up plants in Indonesia, Philippines, Malaysia, East Europe, US1999 exportsRefrigerator: 568,000 unitsAir conditioner: 200,000 unitsWashing mach

16、ine: 190,000 unitsRefrigerator market share in US (2000) 124 L: 30.1%183 - 266L: 35.88%7Samsung010620BJ-HaierCONTENTS 1. Background informationLocationStarting yearIPO date Number of employeesBrand valueMarket shareSales revenue Equity structureEra analysis4. Value chain strategy5. Organization and

17、ownership6. Financial performanceFocus onMarketing, advertising and promotionDistribution (channel and sales force)Organization structureSales Profit 2. Strategy 3. Product/market Corporate strategyKey product offeringsMarket position Key customersValue propositionGeographic focusPricing8Samsung0106

18、20BJ-HaierHAIERs STRATEGIC FOCUS IN 2001 Source: Haiers annual report Value war instead of price warFocus on improving technical contents in products Produce individualized productsGlobal competitive advantageArrange all business processes around order flow Build competitive advantage in quality, co

19、st and lead time through OEC management Product development Develop products that are tailored for different countries and regions Improve technology in large capacity refrigerators and network refrigerators Improve production capability for special refrigerators Human resource Provide rigorous trai

20、nings to employees and develop them into industry experts and management experts ServiceBuild extensive and exclusive service network to ensure strong reputation of being a service leader9Samsung010620BJ-HaierCONTENTS 1. Background informationLocationStarting yearIPO date Number of employeesBrand va

21、lueMarket shareSales revenue Equity structureEra analysis4. Value chain strategy5. Organization and ownership6. Financial performanceFocus onMarketing, advertising and promotionDistribution (channel and sales force)Organization structureSales Profit 2. Strategy 3. Product/market Corporate strategyKe

22、y product offeringsMarket position Key customersValue propositionGeographic focusPricing10Samsung010620BJ-HaierHAIERSs KEY WHITE GOODS OFFERING Source: Literature searchWhite goods Wide range of typesSide-by-side Refrigerator Washing machine Air conditioner Microwave Product type Double chamberDrum

23、Pulsator WindowSplit Packaged Central airGrill and non-grillMechanic and electronic11Samsung010620BJ-HaierHAIER WHITE GOODS MARKET SHARE, 2000 Refrigerator Washing machine Air conditioner Percent Source: LIICMicrowave3129210.212Samsung010620BJ-Haier* Rongsheng and Kelon combined Source: SINO-MR, GfK

24、, LIIC100%=1998Others 1999200037.415.58.72.732.435.713.88.25.95.728.030.912.38.610.08.826.1Samsung Electrolux Meiling Kelon*Haier Siemens 8.69.19.4Haier and Kelon are the leading players. However, their market shares are decreasing Although latecomers to the market, Electrolux and Siemens are quickl

25、y building up their positions by focusing on mid-to high-end and high-end markets Compared to other MNC players, Samsungs growth in the market is rather slow Millions units, percent Refrigerator market share of major players in major cities4.5-6.215.6270.7101.23.9-6.9-5.0CAGR(98-00)PercentSamsungHai

26、er/Kelon/Meiling Siemens/Electrolux2.63.32.70.7HAIER IS A LEADING PLAYER IN MOST OF WHITE GOODS MARKETSREFRIGERATOR EXAMPLE13Samsung010620BJ-Haier* Kelon and Rongsheng combined Source: SINO-MR, GfK, LIIC100%=North China Others Samsung Electrolux Meiling Kelon*Haier Siemens 2.33.50.5Electrolux and Si

27、emens are doing particularly well in Southwest Apart from Southwest, MNC players are doing better in east China and South China, relatively more affluent areas Samsung is relatively strong in East China and South China North East East China Central South South West North West 0.90.71.432.011.68.59.8

28、5.31.730.836.616.111.57.65.90.421.926.06.29.79.48.210.130.331.014.36.99.710.53.324.420.411.09.819.218.50.320.833.818.29.68.60.124.15.6Refrigerator market share in major cities by geography, 2000Million units, percentSamsungHaier/Kelon/Meiling Siemens/ElectroluxHAIER HAS DEMONSTRATED STRENGTH IN MOST

29、 GEOGRAPHIC REGIONSREFRIGERATOR EXAMPLE14Samsung010620BJ-Haier* Another Kelons brand Source: SINO-MR, GfK, LIIC100%= 4,0002.01.92.024.112.51.217.819.624.80016.012.60.17.74.145.713.828.316.50.18.510.031.51.93.447.39.71.15.98.87.21.318.736.32.03.82.919.326.09.40.429.80.14.34.70.348.10.312.5Rongsheng*0

30、Refrigerator market share in major cities by price band, 2000Million units, percentElectroluxKelon/RongshengSiemensSamsungHAIERS PRODUCTS COVER ALMOST ALL PRICE SEGMENTSREFRIGERATOR EXAMPLE15Samsung010620BJ-Haier* Another Kelons brand Source: SINO-MR, GfK, LIIC100%= 100LOthers Samsung Electrolux Mei

31、ling Kelon*Haier Siemens 0.21.00.7Haier is leading in most markets Electrolux and Siemens have strong position in mid-to-large capacity markets Samsung is very strong in small capacity ( 300L2.60.03Rongsheng* 40.47.8036.90.119.851.213.401.49.602.821.424.823.30.59.07.76.51.127.129.89.10.813.75.27.54.

32、229.735.511.70.85.911.010.12.922.123.45.41.17.824.12.61.234.417.28.55.25.013.730.419.90.125.1019.02.61.152.00.20Refrigerator market share in major cities by product type, 2000SamsungHaier/Rongsheng/Kelon Siemens/ElectroluxHAIERS PRODUCTS COVER BROAD RANGE OF TYPESREFRIGERATOR EXAMPLE16Samsung010620B

33、J-HaierCONTENTS 1. Background informationLocationStarting yearIPO date Number of employeesBrand valueMarket shareSales revenue Equity structureEra analysis4. Value chain strategy5. Organization and ownership6. Financial performanceFocus onMarketing, advertising and promotionDistribution (channel and

34、 sales force)Organization structureSales Profit 2. Strategy 3. Product/market Corporate strategyKey product offeringsMarket position Key customersValue propositionGeographic focusPricing17Samsung010620BJ-HaierAPART FROM STRONG BRAND, HAIERS KEY STRENGTHS LIE IN STRONG ATTENTION TO R&D, SUCCESSFUL SU

35、PPLY CHAIN AND LOGISTICS MANAGEMENT, WIDE DISTRIBUTION NETWORKS AND QUALITY AFTER-SALES SERVICES Key strengths R&DLeading technologies in high efficiency, inverter, energy-saving, environmental protection, etc. Strong R&D resource (R&D spending accounts for 45% of revenue)Quick commercialization of

36、new technologies (75% commercialization rate)Product design reflecting individualization Founded Haier Central Institute of Research with partners from US, Japan, Germany, etc. Set up 48 R&D entities world wide Set up new product experiment center in each key business unit Build technology alliance

37、with 15 research institutes including Philips, C-Mold and Netscreen Recent development Logistics Sophisticated supply chain management and highly efficient logistics management Launched “I design my own refrigerator marketing strategy Built ERP, BPP and CRM systems Built Chinas largest and most adva

38、nced logistics center in Qingdao Sales and marketing Strong brand recognition Invested RMB 0.5 billion in A&P Distribution Highly efficient distribution network (42 distribution centers, and over 9,000 sales outlets)Improved delivery time to 8 hours in hub cities, 24 hours in surrounding areas, 4 da

39、ys anywhere in the country After-sales service Strong reputation in offering excellent after-sales service Continue promote the concept customers are always right18Samsung010620BJ-HaierHAIER LOGISTICS HAS GAINED RICH EXPERIENCE IN SOPHISTICATED SUPPLY CHAIN MANAGEMENT Source: Literature researchOpti

40、mized supply chain managementHaiers operating objectiveZero inventoryZero distanceZero working capitalHaier logistics management model: “one-flow and three-net”One flow: order information flowThree netGlobal supplier resource networkGlobal customer resource networkIT networkCurrent capabilitiesHaier

41、s order flow6,000 orders/month15,000 sourcing partsSupplier base978 supplier (58% lower than before)20% international suppliers include GE, Emmerson, etc.Internet usage 100% purchasing orders online20% online paymentPurchasing lead time 3 days comparing with 10 days before19Samsung010620BJ-HaierHAIE

42、Rs DISTRIBUTION CENTER HAS A LARGE GEOGRAPHY COVERAGE IN CHINAHaiers distribution networkHaier logistics center (Qingdao)42 distribu-tion centers1,550 specialty stores and 9,000 sales outletsDistribution network in ChinaInternational presence: DG for air-con related products at Hamburger Harbor, Ger

43、many, partnering with HHLAShanghaiBeijingWith established network, Haier has promised a competitive time of delivery8 hours within core cities24 hours in adjacent areas of core cities4 days for nationwide distributionTransportation equipment: over 10,000 trucks in China Haiers facilities20Samsung010

44、620BJ-HaierHAIER HAS A DISTINCTIVE DISTRIBUTION APPROACH WHICH IS HEAVILY FOCUSING ON DIRECT RETAIL SALES FOR BASE AND HUB CITIES. Source: Field interview; McKinsey analysisSpecialty shoresFirst tier citySecond tier cityThird tier cityHaier shop-in-shopsRetailers in first tier cities Retailers in so

45、me large second tier cities Specialty store Haier shop in shops Retailers in second tier cities Specialty store Haier shop in shops Retailers in third tier cities Specialty storesHaier A/C sales Co.Haier sales branches in small second tier citiesWholesales in some third tier citiesHaier sales center

46、 in first tier citiesHaier sales center in some large second tier citiesHaier sales centers in first and second tier citiesHaier sales branches in big third tier citiesEast regionNorth regionWest regionSouth region21Samsung010620BJ-HaierCONTENTS 1. Background informationLocationStarting yearIPO date

47、 Number of employeesBrand valueMarket shareSales revenue Equity structureEra analysis4. Value chain strategy5. Organization and ownership6. Financial performanceFocus onMarketing, advertising and promotionDistribution (channel and sales force)Organization structureSales Profit 2. Strategy 3. Product

48、/market Corporate strategyKey product offeringsMarket position Key customersValue propositionGeographic focusPricing22Samsung010620BJ-HaierHAIERS ORGANIZATION STRUCTUREBODCEOPresidentExecutive VPVPVPPromotionProductFunctionOver-seas Prom-otionBusi-NessFlowProm-otionLogis-TicsProm-otionCashFlowProm-o

49、tionRefri-geratorBGA/C BGBusi-nessA/CBGFree-zerBGWarshingMachineBGITBGTech-nicalEquip-mentBGImme-diateBUsTech-nologyCenterPlann-ing AndDevel-opmentCenterH/RDevel-opmentCenterLegalCenterCorpo-rateCultureCenterSecu-rityCenterAmerica BUEast ChinaPurcha-sing BUCash In-flow BUEurope BUMiddle-East BUAsia-

50、Pacific BUEast ChinaEastChinaStorage& Transp-ortation BUCash out-flow BU Accoun-tingBUAsset audix-Ing BURefrig-erator BUA/CBUHefeiBUMitsubi-Shi BUWuhanBUW/MBUHefei W/MShundeHaierElectro-nicsBUHefeiElectro-nicsHaimei BUTourism BUSuper Market BUTelecom BUComputer BUDish washer BUElectric Heating BUMol