Harvard Case - OnePlus: Crossing the Chasm in the Smartphone Market
"OnePlus: Crossing the Chasm in the Smartphone Market" Harvard business case study is written by Mohanbir Sawhney, Pallavi Goodman. It deals with the challenges in the field of Marketing. The case study is 28 page(s) long and it was first published on : Dec 9, 2016
At Fern Fort University, we recommend OnePlus adopt a multifaceted strategy to successfully cross the chasm and achieve sustainable growth in the smartphone market. This strategy involves refining its product positioning, strengthening its brand identity, expanding its distribution channels, and leveraging digital marketing to engage with a broader customer base. By focusing on customer experience, OnePlus can solidify its position as a premium brand while appealing to a wider audience beyond early adopters.
2. Background
OnePlus, founded in 2013, quickly gained traction by offering high-performance smartphones at competitive prices, appealing to tech-savvy early adopters. However, the company faced challenges in expanding its reach beyond this niche market. The case study highlights OnePlus's struggle to navigate the 'chasm,' a gap between early adopters and the mainstream market, characterized by different customer needs and expectations.
The main protagonists of the case study are:
- Pete Lau: OnePlus co-founder and CEO, responsible for product development and overall strategy.
- Carl Pei: OnePlus co-founder, initially responsible for marketing and brand building.
- OnePlus team: The company's employees, responsible for executing the strategy and navigating the challenges of growth.
3. Analysis of the Case Study
To analyze OnePlus's situation, we employ a combination of frameworks:
1. SWOT Analysis:
- Strengths: Strong brand image, innovative technology, competitive pricing, loyal customer base, agile product development.
- Weaknesses: Limited brand awareness, reliance on online channels, lack of offline presence, potential for supply chain issues.
- Opportunities: Expanding into new markets, diversifying product portfolio, strengthening brand partnerships, leveraging AI and machine learning.
- Threats: Intense competition, evolving consumer preferences, economic fluctuations, potential for counterfeiting.
2. Porter's Five Forces:
- Threat of New Entrants: High, due to the low barriers to entry in the smartphone market.
- Bargaining Power of Buyers: High, as consumers have numerous choices and can easily switch brands.
- Bargaining Power of Suppliers: Moderate, as OnePlus relies on a network of suppliers for components.
- Threat of Substitute Products: High, with alternative devices like tablets and laptops competing for market share.
- Competitive Rivalry: Very high, with established players like Samsung, Apple, and Huawei dominating the market.
3. Consumer Behavior Analysis:
- Early Adopters: Tech-savvy, value innovation and performance, willing to pay a premium for cutting-edge features.
- Mainstream Market: Seek value for money, prioritize reliability and ease of use, influenced by brand reputation and social proof.
4. Competitive Analysis:
- Apple: Strong brand image, premium pricing, closed ecosystem, loyal customer base.
- Samsung: Wide product portfolio, strong brand awareness, extensive distribution network, innovative features.
- Huawei: Rapidly growing market share, competitive pricing, strong presence in emerging markets.
4. Recommendations
1. Refine Product Positioning:
- Target Market Segmentation: Identify specific segments within the mainstream market, focusing on value-conscious consumers seeking high-quality smartphones at competitive prices.
- Product Positioning: Emphasize OnePlus's unique value proposition: premium features and performance at a more accessible price point.
- Product Lifecycle Management: Introduce a wider range of products catering to different price points and features, while maintaining a focus on innovation and quality.
2. Strengthen Brand Identity:
- Brand Management: Develop a consistent brand message and visual identity across all touchpoints, emphasizing OnePlus's focus on innovation, quality, and user experience.
- Brand Positioning: Position OnePlus as a premium brand offering high-value products, while maintaining a sense of accessibility and community.
- Brand Equity: Invest in building brand awareness and positive associations through targeted marketing campaigns and strategic partnerships.
3. Expand Distribution Channels:
- Product Distribution: Partner with major retailers and online marketplaces to increase brand visibility and reach a wider audience.
- Omni-channel Marketing: Create a seamless customer experience across online and offline channels, integrating e-commerce, physical stores, and mobile apps.
- International Business: Expand into new markets with high growth potential, adapting products and marketing strategies to local preferences.
4. Leverage Digital Marketing:
- Digital Marketing Strategies: Utilize a mix of social media marketing, content marketing, SEO, and SEM to engage with target audiences.
- Social Media Marketing: Build a strong online community, fostering customer engagement and brand loyalty through interactive content and influencer partnerships.
- Content Marketing: Create valuable and informative content that educates consumers about OnePlus's products and technology.
5. Enhance Customer Experience:
- Customer Relationship Management (CRM): Implement a robust CRM system to track customer interactions, personalize communications, and improve customer satisfaction.
- Customer Journey Mapping: Analyze the customer journey from awareness to purchase to post-sale support, identifying areas for improvement and optimizing the experience.
- Customer Retention: Develop loyalty programs and offer exceptional customer service to retain existing customers and encourage repeat purchases.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: OnePlus's core competencies lie in innovation, product development, and customer experience. The recommendations align with these strengths while expanding the company's reach.
- External customers and internal clients: The recommendations address the needs of both early adopters and the broader mainstream market, while also providing internal teams with the tools and resources to execute the strategy.
- Competitors: The recommendations aim to differentiate OnePlus from competitors by focusing on a unique value proposition, leveraging digital marketing, and building a strong brand identity.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to drive revenue growth, increase market share, and improve profitability.
6. Conclusion
By implementing these recommendations, OnePlus can successfully cross the chasm and achieve sustainable growth in the smartphone market. The company must focus on refining its product positioning, strengthening its brand identity, expanding its distribution channels, and leveraging digital marketing to engage with a broader customer base. By prioritizing customer experience and building a strong brand, OnePlus can solidify its position as a premium brand while appealing to a wider audience beyond early adopters.
7. Discussion
Alternatives:
- Focusing solely on the early adopter market: This approach could limit growth potential and make OnePlus vulnerable to competition.
- Adopting a low-cost strategy: This could damage the brand image and compromise product quality.
Risks:
- Increased competition: The smartphone market is highly competitive, and OnePlus needs to stay ahead of the curve to remain relevant.
- Evolving consumer preferences: Consumer preferences are constantly changing, and OnePlus needs to adapt its products and marketing strategies accordingly.
- Supply chain disruptions: Reliance on global supply chains can expose OnePlus to risks such as natural disasters, political instability, and trade wars.
Key Assumptions:
- OnePlus can successfully execute its strategy and adapt to changing market conditions.
- Consumers will respond positively to OnePlus's value proposition and brand identity.
- The smartphone market will continue to grow, providing opportunities for expansion.
8. Next Steps
- Develop a detailed implementation plan: Outline specific actions, timelines, and resources required to execute the recommendations.
- Conduct market research: Gather insights into consumer preferences, competitive landscape, and market trends.
- Refine product development: Develop a roadmap for new product launches and feature enhancements.
- Strengthen marketing and sales teams: Recruit and train staff with expertise in digital marketing, brand management, and customer experience.
- Monitor progress and make adjustments: Regularly track key metrics and make adjustments to the strategy as needed.
By taking these steps, OnePlus can successfully navigate the chasm and establish itself as a leading player in the global smartphone market.
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Case Description
In early 2016, after the success of its first two smartphones, the OnePlus One and OnePlus 2, China-based startup smartphone maker OnePlus was deciding how to build on its early success and grow into a global contender in the highly competitive smartphone market. Technology enthusiasts and geeks had flocked to purchase the first two generations of its smartphones and expectations were high for the company's next product. The company's founders, Pete Lau and Carl Pei, faced the challenge of broadening the appeal of OnePlus to address the mainstream market without alienating its core customer base. "Crossing the chasm" from the early adopters to the mainstream market involved addressing three interrelated questions: First, what segments should OnePlus target as it sought to grow beyond its loyal fan base? Second, what value proposition and positioning strategy should it adopt to appeal to these target customers? Finally, what distribution and marketing communications strategy should it employ to make best use of its limited financial resources? A key consideration in formulating its strategy was to stay true to the company's culture and mission of "Never Settle" by charting its own course and not emulating the strategies of much larger competitors like Apple, Samsung, LG, and HTC.
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