Harvard Case - mixi (A)
"mixi (A)" Harvard business case study is written by Mikolaj Jan Piskorski, Masaru Nomura, Kanako Miyoshi. It deals with the challenges in the field of Strategy. The case study is 19 page(s) long and it was first published on : Jul 22, 2008
At Fern Fort University, we recommend that mixi pursue a multi-pronged growth strategy focused on expanding its user base, diversifying its revenue streams, and strengthening its competitive position in the evolving Japanese social media landscape. This strategy will involve leveraging mixi's core competencies in community building, innovative product development, and data analytics to capitalize on emerging trends in digital transformation, social commerce, and mobile gaming.
2. Background
This case study focuses on mixi, a Japanese social networking company that experienced significant growth in the early 2000s but faced challenges in maintaining its dominance as new competitors entered the market. The case highlights the company's efforts to adapt its business model and navigate the changing landscape of the social media industry.
The main protagonists are:
- Koki Ito: Founder and CEO of mixi, responsible for the company's vision and strategic direction.
- Mixi's Management Team: Responsible for executing the company's strategy and adapting to market changes.
- Mixi's Users: The core of the company's business, whose needs and preferences drive product development and marketing efforts.
- Competitors: Companies like Facebook, Line, and Twitter, vying for user attention and market share.
3. Analysis of the Case Study
SWOT Analysis:
- Strengths: Strong brand recognition in Japan, established user base, expertise in community building, data analytics capabilities, agile development process.
- Weaknesses: Limited international presence, dependence on advertising revenue, declining user engagement, lack of diversification in revenue streams.
- Opportunities: Growth in mobile gaming, social commerce, digital transformation, expansion into new markets, strategic partnerships.
- Threats: Increasing competition from global players, evolving user preferences, regulatory changes, data privacy concerns.
Porter's Five Forces:
- Threat of New Entrants: High, due to low barriers to entry in the social media space.
- Bargaining Power of Buyers: High, as users have numerous alternatives and can easily switch platforms.
- Bargaining Power of Suppliers: Low, as mixi primarily relies on technology and content providers, which are readily available.
- Threat of Substitute Products: High, with numerous alternative platforms and services vying for user attention.
- Rivalry Among Existing Competitors: Intense, with established players like Facebook and Line, as well as emerging competitors vying for market share.
Value Chain Analysis:
- Inbound Logistics: Sourcing technology and content from various providers.
- Operations: Developing and maintaining the platform, managing user data, and providing customer support.
- Outbound Logistics: Distributing content and services to users through various channels.
- Marketing & Sales: Promoting the platform and attracting new users.
- Service: Providing user support and resolving issues.
Business Model Innovation:
- Move beyond advertising: Explore new revenue streams like in-app purchases, subscriptions, and social commerce.
- Focus on user engagement: Develop innovative features and content to retain existing users and attract new ones.
- Leverage data analytics: Utilize data to understand user behavior and personalize content and services.
- Embrace mobile gaming: Develop and acquire mobile games to capitalize on the growing market.
- Expand internationally: Explore strategic partnerships and acquisitions to enter new markets.
4. Recommendations
1. Expand User Base and Increase Engagement:
- Develop a multi-platform strategy: Launch mobile apps and expand presence on existing platforms like Twitter and Instagram.
- Target new user segments: Focus on younger demographics, niche communities, and regional markets.
- Improve user experience: Enhance platform features, personalize content, and offer more engaging content formats.
- Invest in marketing and promotion: Utilize social media marketing, influencer partnerships, and targeted advertising campaigns.
2. Diversify Revenue Streams:
- Develop a social commerce platform: Integrate e-commerce features within the platform and partner with brands to offer exclusive deals and products.
- Launch mobile games: Develop and acquire mobile games that leverage the existing user base and offer in-app purchases.
- Offer premium subscriptions: Provide exclusive features and benefits to paying subscribers.
- Explore strategic partnerships: Collaborate with other companies to offer bundled services and cross-promote products.
3. Strengthen Competitive Position:
- Invest in technology and innovation: Develop new features and functionalities to stay ahead of the competition.
- Focus on data analytics and personalization: Utilize data to understand user behavior and provide personalized content and services.
- Build a strong brand identity: Emphasize mixi's unique strengths and differentiate itself from competitors.
- Embrace corporate social responsibility: Promote ethical practices and contribute to social causes to enhance brand image.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of mixi's strengths, weaknesses, opportunities, and threats. They align with the company's core competencies in community building, innovation, and data analytics. The recommendations are designed to address the challenges of declining user engagement, limited revenue diversification, and increasing competition. They also consider the evolving landscape of the social media industry and the growing trends in mobile gaming, social commerce, and digital transformation.
Quantitative Measures:
- Increased user engagement: Measured by active user count, daily usage time, and content creation activity.
- Diversified revenue streams: Measured by revenue generated from non-advertising sources.
- Improved brand image: Measured by brand awareness, customer satisfaction, and positive media coverage.
Assumptions:
- Users are willing to pay for premium features and exclusive content.
- Mobile gaming continues to grow in popularity and offers a significant revenue opportunity.
- Social commerce becomes increasingly integrated with social media platforms.
- Data analytics and personalization play a crucial role in user engagement and customer retention.
6. Conclusion
Mixi has a strong foundation and a loyal user base in Japan. By embracing innovation, diversifying its revenue streams, and strengthening its competitive position, mixi can regain its leadership in the Japanese social media market and expand its reach internationally.
7. Discussion
Alternatives:
- Focus solely on advertising revenue: This would require aggressive marketing efforts and potentially lower user engagement.
- Merging with a larger competitor: This could offer immediate market share gains but risks losing brand identity and control over the platform.
- Abandoning the social media space: This would be a drastic measure and could lead to significant financial losses.
Risks:
- User resistance to new features: Users may not be receptive to changes in the platform.
- Competition from global players: Mixi may struggle to compete with larger companies with more resources.
- Regulatory challenges: Data privacy and content moderation regulations could pose significant challenges.
Key Assumptions:
- Users are willing to pay for premium features and exclusive content.
- Mobile gaming continues to grow in popularity and offers a significant revenue opportunity.
- Social commerce becomes increasingly integrated with social media platforms.
- Data analytics and personalization play a crucial role in user engagement and customer retention.
8. Next Steps
- Develop a detailed strategic plan: Outline specific goals, timelines, and resource allocation for each recommendation.
- Invest in technology and talent: Hire skilled engineers, designers, and data analysts to support the growth strategy.
- Launch pilot programs: Test new features and products before launching them to the wider user base.
- Monitor progress and adapt: Regularly evaluate the effectiveness of the strategy and make adjustments as needed.
By implementing these recommendations, mixi can navigate the evolving social media landscape and achieve sustainable growth in the Japanese and international markets.
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Case Description
Kasahara, the founder and CEO of mixi, the most successful Japanese on-line social network, is deciding between two strategic options: (i) B2C or (ii) C2C, to leverage the power of the social network. In the B2C option, mixi would become a portal for on-line shopping for both digital content and tangible goods and charge the business sellers a fee. In the C2C option, mixi would facilitate exchanges between mixi's members through on-line flea markets or auctions and charge the members for successful transactions. In choosing between the two options he has to consider other upstart networks, particularly in the field of mobile social networking.
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