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1、Samsung010620BJ-Haier,White Goods Competitor Assessment Haier,Samsung Electronics China(SEC China),August,2001,CONFIDENTIAL,This 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 writte
2、n approval from McKinsey it is not a complete record of the discussion.,Samsung010620BJ-Haier,1,CONTENTS,1.Background information,LocationStarting yearIPO date Number of employeesBrand valueMarket share,Sales revenue Equity structureEra analysis,4.Value chain strategy,5.Organization and ownership,6.
3、Financial performance,Focus onMarketing,advertising and promotionDistribution(channel and sales force),Organization structure,Sales Profit,2.Strategy,3.Product/market,Corporate strategy,Key product offeringsMarket position Key customersValue propositionGeographic focusPricing,Samsung010620BJ-Haier,2
4、,CONTENTS,1.Background information,LocationStarting yearIPO date Number of employeesBrand valueMarket share,Sales revenue Equity structureEra analysis,4.Value chain strategy,5.Organization and ownership,6.Financial performance,Focus onMarketing,advertising and promotionDistribution(channel and sales
5、 force),Organization structure,Sales Profit,2.Strategy,3.Product/market,Corporate strategy,Key product offeringsMarket position Key customersValue propositionGeographic focusPricing,Samsung010620BJ-Haier,3,BACKGROUND INFORMATION,Source:Annual report;analyst reports;web site;Yuegang Information Daily
6、,Location:,Qingdao,Starting year:,1984,IPO date:,Listed refrigerator business in November,1993,Brand value(2000):,RMB 30 billion,Market share:,Refrigerator:31%;Washing machine:29%;Air Conditioner:20%;Microwave:2%,Number of employees:,30,000,Equity structure:,Key shareholders,Percentage,Haier GroupHa
7、ier Electronic International Co,.Ltd,31.44%17.93%,Sales Revenue(2000):,RMB 40.6 billion,Samsung010620BJ-Haier,4,HAIERs DEVELOPMENT WENT THROUGH THREE STAGES,Source:Haiers website,literature search,1984-1991,1992-1998,1998-,Key initiative,Built a strong brand name in refrigerators through a well deve
8、-loped TQC system,Diversified the product portfolio to avoid having all the com-panys eggs in one basket through mer-gers and acquisitions,To build an international brand name Aspires to become fortune 500,Key results,Won the first prize in the most favorite light industry products refrigerators”5 y
9、ears in a rowWon the state prize for quality managementPresented with the customer satisfaction cup by Chinas customer satisfaction movement congress,Acquired 14 enterprises under the eating dormant fish strategy.Successfully turned these businesses around by leveraging Haiers brand and introducing
10、Haiers OEC managementExpanded product portfolio from 1 product to over 9,000 products in 42 categories,Sold products to over 160 countries and regions and established more than 38,000 sales outlets across the world,Samsung010620BJ-Haier,5,HAIERs BRAND BECAME TREMENDOUS INTANGIBLE ASSET,Source:Litera
11、ture search,web site,Examples of Haiers successful investment with its brandAcquired Qingdao Red Star Electronic Company and changed its washing machines brand into Haier.With the help of OEC management,quickly turned the company into a profitable business.Haier became the No.1 brand for washing mac
12、hine the next year and enjoyed the highest market shareAcquired controlling shares of Shunde Washing Machine Factory with Haier brand and quickly turned around the businessTook controlling shares of Hangzhou Haier Electronic Company with Haier brand and developed Haier series of color TV,Samsung0106
13、20BJ-Haier,6,Source:Website,HAIER OFFERS BROAD RANGE OF PRODUCTS,Haiers key product offerings,Samsung010620BJ-Haier,7,HAIER HAS SUCCESSFULLY EXPANDED INTO GLOBAL MARKET,Source:Annual report,Develop global distribution network62 distributors and around 38,000 outlets across the world,Set up productio
14、n facilities overseasSet up plants in Indonesia,Philippines,Malaysia,East Europe,US,1999 exportsRefrigerator:568,000 unitsAir conditioner:200,000 unitsWashing machine:190,000 units,Refrigerator market share in US(2000)124 L:30.1%183-266L:35.88%,Samsung010620BJ-Haier,8,CONTENTS,1.Background informati
15、on,LocationStarting yearIPO date Number of employeesBrand valueMarket share,Sales revenue Equity structureEra analysis,4.Value chain strategy,5.Organization and ownership,6.Financial performance,Focus onMarketing,advertising and promotionDistribution(channel and sales force),Organization structure,S
16、ales Profit,2.Strategy,3.Product/market,Corporate strategy,Key product offeringsMarket position Key customersValue propositionGeographic focusPricing,Samsung010620BJ-Haier,9,HAIERs STRATEGIC FOCUS IN 2001,Source:Haiers annual report,Focus on improving technical contents in products Produce individua
17、lized products,Arrange all business processes around order flow Build competitive advantage in quality,cost and lead time through OEC management,Develop products that are tailored for different countries and regions Improve technology in large capacity refrigerators and network refrigerators Improve
18、 production capability for special refrigerators,Provide rigorous trainings to employees and develop them into industry experts and management experts,Build extensive and exclusive service network to ensure strong reputation of being a service leader,Samsung010620BJ-Haier,10,CONTENTS,1.Background in
19、formation,LocationStarting yearIPO date Number of employeesBrand valueMarket share,Sales revenue Equity structureEra analysis,4.Value chain strategy,5.Organization and ownership,6.Financial performance,Focus onMarketing,advertising and promotionDistribution(channel and sales force),Organization stru
20、cture,Sales Profit,2.Strategy,3.Product/market,Corporate strategy,Key product offeringsMarket position Key customersValue propositionGeographic focusPricing,Samsung010620BJ-Haier,11,HAIERSs KEY WHITE GOODS OFFERING,Source:Literature search,Wide range of typesSide-by-side,Product type,Double chamberD
21、rum Pulsator,WindowSplit Packaged Central air,Grill and non-grillMechanic and electronic,Samsung010620BJ-Haier,12,HAIER WHITE GOODS MARKET SHARE,2000,Refrigerator,Washing machine,Air conditioner,Percent,Source:LIIC,Microwave,Samsung010620BJ-Haier,13,*Rongsheng and Kelon combined Source:SINO-MR,GfK,L
22、IIC,100%=,1998,Others,1999,2000,37.4,15.5,8.7,2.7,32.4,35.7,13.8,8.2,5.9,5.7,28.0,30.9,12.3,8.6,10.0,8.8,26.1,Samsung,Electrolux,Meiling,Kelon*,Haier,Siemens,8.6,9.1,9.4,Haier and Kelon are the leading players.However,their market shares are decreasing Although latecomers to the market,Electrolux an
23、d Siemens are quickly 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 cities,4.5,-6.2,15.6,270.7,101.2,3.9,-6.9,-5.0,C
24、AGR(98-00)Percent,Samsung,Haier/Kelon/Meiling,Siemens/Electrolux,2.6,3.3,2.7,0.7,HAIER IS A LEADING PLAYER IN MOST OF WHITE GOODS MARKETS,Samsung010620BJ-Haier,14,*Kelon and Rongsheng combined Source:SINO-MR,GfK,LIIC,100%=,North China,Others,Samsung,Electrolux,Meiling,Kelon*,Haier,Siemens,2.3,3.5,0.
25、5,Electrolux and Siemens 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,0.9,0.
26、7,1.4,32.0,11.6,8.5,9.8,5.3,1.7,30.8,36.6,16.1,11.5,7.6,5.9,0.4,21.9,26.0,6.2,9.7,9.4,8.2,10.1,30.3,31.0,14.3,6.9,9.7,10.5,3.3,24.4,20.4,11.0,9.8,19.2,18.5,0.3,20.8,33.8,18.2,9.6,8.6,0.1,24.1,5.6,Refrigerator market share in major cities by geography,2000Million units,percent,Samsung,Haier/Kelon/Mei
27、ling,Siemens/Electrolux,HAIER HAS DEMONSTRATED STRENGTH IN MOST GEOGRAPHIC REGIONS,Samsung010620BJ-Haier,15,*Another Kelons brand Source:SINO-MR,GfK,LIIC,100%=,1,500,Others,Samsung,Electrolux,Meiling,Kelon,Haier,Siemens,0.9,2.3,0.3,Siemens is focusing on very high-end market while Electrolux is focu
28、sing on mid-to-high end market Samsung demonstrated strength in low-price market Kelon uses multi-brand strategy to target both low-to-mid end market and mid-to-high end market,1,500-2,500,2,000-2,500,2,500-3,000,3,000-4,000,4,000,2.0,1.9,2.0,24.1,12.5,1.2,17.8,19.6,24.8,0,0,16.0,12.6,0.1,7.7,4.1,45
29、.7,13.8,28.3,16.5,0.1,8.5,10.0,31.5,1.9,3.4,47.3,9.7,1.1,5.9,8.8,7.2,1.3,18.7,36.3,2.0,3.8,2.9,19.3,26.0,9.4,0.4,29.8,0.1,4.3,4.7,0.3,48.1,0.3,12.5,Rongsheng*,0,Refrigerator market share in major cities by price band,2000Million units,percent,Electrolux,Kelon/Rongsheng,Siemens,Samsung,HAIERS PRODUCT
30、S COVER ALMOST ALL PRICE SEGMENTS,Samsung010620BJ-Haier,16,*Another Kelons brand Source:SINO-MR,GfK,LIIC,100%=,100L,Others,Samsung,Electrolux,Meiling,Kelon*,Haier,Siemens,0.2,1.0,0.7,Haier is leading in most markets Electrolux and Siemens have strong position in mid-to-large capacity markets Samsung
31、 is very strong in small capacity(100L)market and is relatively strong in mid capacity market,100-150L,150-180L,0.6,1.2,3.1,180-200L,200-225L,225-250L,250-300L,300L,2.6,0.03,Rongsheng*,40.4,7.8,0,36.9,0.1,19.8,51.2,13.4,0,1.4,9.6,0,2.8,21.4,24.8,23.3,0.5,9.0,7.7,6.5,1.1,27.1,29.8,9.1,0.8,13.7,5.2,7.
32、5,4.2,29.7,35.5,11.7,0.8,5.9,11.0,10.1,2.9,22.1,23.4,5.4,1.1,7.8,24.1,2.6,1.2,34.4,17.2,8.5,5.2,5.0,13.7,30.4,19.9,0.1,25.1,0,19.0,2.6,1.1,52.0,0.2,0,Refrigerator market share in major cities by product type,2000,Samsung,Haier/Rongsheng/Kelon,Siemens/Electrolux,HAIERS PRODUCTS COVER BROAD RANGE OF T
33、YPES,Samsung010620BJ-Haier,17,CONTENTS,1.Background information,LocationStarting yearIPO date Number of employeesBrand valueMarket share,Sales revenue Equity structureEra analysis,4.Value chain strategy,5.Organization and ownership,6.Financial performance,Focus onMarketing,advertising and promotionD
34、istribution(channel and sales force),Organization structure,Sales Profit,2.Strategy,3.Product/market,Corporate strategy,Key product offeringsMarket position Key customersValue propositionGeographic focusPricing,Samsung010620BJ-Haier,18,APART FROM STRONG BRAND,HAIERS KEY STRENGTHS LIE IN STRONG ATTEN
35、TION TO R&D,SUCCESSFUL SUPPLY CHAIN AND LOGISTICS MANAGEMENT,WIDE DISTRIBUTION NETWORKS AND QUALITY AFTER-SALES SERVICES,Key strengths,Leading technologies in high efficiency,inverter,energy-saving,environmental protection,etc.Strong R&D resource(R&D spending accounts for 45%of revenue)Quick commerc
36、ialization of 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 a
37、lliance with 15 research institutes including Philips,C-Mold and Netscreen,Recent development,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 advanced
38、logistics center in Qingdao,Strong brand recognition,Invested RMB 0.5 billion in A&P,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 days anywhere in the country,Strong reputat
39、ion in offering excellent after-sales service,Continue promote the concept customers are always right,Samsung010620BJ-Haier,19,HAIER LOGISTICS HAS GAINED RICH EXPERIENCE IN SOPHISTICATED SUPPLY CHAIN MANAGEMENT,Source:Literature research,Optimized supply chain management,Haiers operating objectiveZe
40、ro inventoryZero distanceZero working capital,Haier logistics management model:“one-flow and three-net”One flow:order information flowThree netGlobal supplier resource networkGlobal customer resource networkIT network,Current capabilities,Haiers order flow6,000 orders/month15,000 sourcing parts,Supp
41、lier 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 before,Samsung010620BJ-Haier,20,HAIERs DISTRIBUTION CENTER HAS A LARGE GEOGRAPHY COVERAGE IN C
42、HINA,Haiers distribution network,Haier logistics center(Qingdao),42 distribu-tion centers,1,550 specialty stores and 9,000 sales outlets,Distribution network in China,International presence:DG for air-con related products at Hamburger Harbor,Germany,partnering with HHLA,Shanghai,Beijing,With establi
43、shed network,Haier has promised a competitive time of delivery8 hours within core cities24 hours in adjacent areas of core cities4 days for nationwide distribution,Transportation equipment:over 10,000 trucks in China,Haiers facilities,Samsung010620BJ-Haier,21,HAIER HAS A DISTINCTIVE DISTRIBUTION APP
44、ROACH WHICH IS HEAVILY FOCUSING ON DIRECT RETAIL SALES FOR BASE AND HUB CITIES,.,Source:Field interview;McKinsey analysis,Specialty shores,First tier city,Second tier city,Third tier city,Haier shop-in-shops,Retailers in first tier cities,Retailers in some large second tier citiesSpecialty storeHaie
45、r shop in shops,Retailers in second tier citiesSpecialty storeHaier shop in shops,Retailers in third tier citiesSpecialty stores,Haier A/C sales Co.,Haier sales branches in small second tier cities,Wholesales in some third tier cities,Haier sales center in first tier cities,Haier sales center in som
46、e large second tier cities,Haier sales centers in first and second tier cities,Haier sales branches in big third tier cities,East region,North region,West region,South region,Samsung010620BJ-Haier,22,CONTENTS,1.Background information,LocationStarting yearIPO date Number of employeesBrand valueMarket
47、 share,Sales revenue Equity structureEra analysis,4.Value chain strategy,5.Organization and ownership,6.Financial performance,Focus onMarketing,advertising and promotionDistribution(channel and sales force),Organization structure,Sales Profit,2.Strategy,3.Product/market,Corporate strategy,Key produc
48、t offeringsMarket position Key customersValue propositionGeographic focusPricing,Samsung010620BJ-Haier,23,HAIERS ORGANIZATION STRUCTURE,BOD,CEO,President,Executive VP,VP,VP,Promotion,Product,Function,Over-seas Prom-otion,Busi-NessFlowProm-otion,Logis-TicsProm-otion,CashFlowProm-otion,Refri-geratorBG
49、,A/C BG,Busi-nessA/CBG,Free-zerBG,WarshingMachineBG,ITBG,Tech-nicalEquip-mentBG,Imme-diateBUs,Tech-nologyCenter,Plann-ing AndDevel-opmentCenter,H/RDevel-opmentCenter,LegalCenter,Corpo-rateCultureCenter,Secu-rityCenter,America BU,East China,Purcha-sing BU,Cash In-flow BU,Europe BU,Middle-East BU,Asia
50、-Pacific BU,East China,EastChina,Storage&Transp-ortation BU,Cash out-flow BU,Accoun-tingBU,Asset audix-Ing BU,Refrig-erator BU,A/CBU,HefeiBU,Mitsubi-Shi BU,WuhanBU,W/MBU,Hefei W/M,ShundeHaier,Electro-nicsBU,HefeiElectro-nics,Haimei BU,Tourism BU,Super Market BU,Telecom BU,Computer BU,Dish washer BU,
