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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 w
2、ritten approval from McKinsey it is not a complete record of the discussion.,Samsung010620BJ-Haier,1,CONTENTS,1. Background information,Location Starting year IPO date Number of employees Brand value Market share,Sales revenue Equity structure Era analysis,4. Value chain strategy,5. Organization and
3、 ownership,6. Financial performance,Focus on Marketing, advertising and promotion Distribution (channel and sales force),Organization structure,Sales Profit,2. Strategy,3. Product/market,Corporate strategy,Key product offerings Market position Key customers Value proposition Geographic focus Pricing
4、,Samsung010620BJ-Haier,2,CONTENTS,1. Background information,Location Starting year IPO date Number of employees Brand value Market share,Sales revenue Equity structure Era analysis,4. Value chain strategy,5. Organization and ownership,6. Financial performance,Focus on Marketing, advertising and prom
5、otion Distribution (channel and sales force),Organization structure,Sales Profit,2. Strategy,3. Product/market,Corporate strategy,Key product offerings Market position Key customers Value proposition Geographic focus Pricing,Samsung010620BJ-Haier,3,BACKGROUND INFORMATION,Source:Annual report; analys
6、t reports; web site; Yuegang Information Daily,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,Equi
7、ty structure:,Key shareholders,Percentage,Haier Group Haier 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 initiati
8、ve,Built a strong brand name in refrigerators through a well deve-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 pri
9、ze in the most favorite light industry products refrigerators” 5 years in a row Won the state prize for quality management Presented with the customer satisfaction cup by Chinas customer satisfaction movement congress,Acquired 14 enterprises under the eating dormant fish strategy. Successfully turne
10、d these businesses around by leveraging Haiers brand and introducing Haiers OEC management Expanded 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
11、-Haier,5,HAIERs BRAND BECAME TREMENDOUS INTANGIBLE ASSET,Source:Literature search, web site,Examples of Haiers successful investment with its brand Acquired Qingdao Red Star Electronic Company and changed its washing machines brand into Haier. With the help of OEC management, quickly turned the comp
12、any into a profitable business. Haier became the No. 1 brand for washing machine the next year and enjoyed the highest market share Acquired controlling shares of Shunde Washing Machine Factory with Haier brand and quickly turned around the business Took controlling shares of Hangzhou Haier Electron
13、ic Company with Haier brand and developed Haier series of color TV,Samsung010620BJ-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 netw
14、ork 62 distributors and around 38,000 outlets across the world,Set up production facilities overseas Set up plants in Indonesia, Philippines, Malaysia, East Europe, US,1999 exports Refrigerator: 568,000 units Air conditioner: 200,000 units Washing machine: 190,000 units,Refrigerator market share in
15、US (2000) 124 L: 30.1% 183 - 266L: 35.88%,Samsung010620BJ-Haier,8,CONTENTS,1. Background information,Location Starting year IPO date Number of employees Brand value Market share,Sales revenue Equity structure Era analysis,4. Value chain strategy,5. Organization and ownership,6. Financial performance
16、,Focus on Marketing, advertising and promotion Distribution (channel and sales force),Organization structure,Sales Profit,2. Strategy,3. Product/market,Corporate strategy,Key product offerings Market position Key customers Value proposition Geographic focus Pricing,Samsung010620BJ-Haier,9,HAIERs STR
17、ATEGIC FOCUS IN 2001,Source:Haiers annual report,Focus on improving technical contents in products Produce individualized 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
18、 different countries and regions Improve technology in large capacity refrigerators and network refrigerators Improve production capability for special refrigerators,Provide rigorous trainings to employees and develop them into industry experts and management experts,Build extensive and exclusive se
19、rvice network to ensure strong reputation of being a service leader,Samsung010620BJ-Haier,10,CONTENTS,1. Background information,Location Starting year IPO date Number of employees Brand value Market share,Sales revenue Equity structure Era analysis,4. Value chain strategy,5. Organization and ownersh
20、ip,6. Financial performance,Focus on Marketing, advertising and promotion Distribution (channel and sales force),Organization structure,Sales Profit,2. Strategy,3. Product/market,Corporate strategy,Key product offerings Market position Key customers Value proposition Geographic focus Pricing,Samsung
21、010620BJ-Haier,11,HAIERSs KEY WHITE GOODS OFFERING,Source:Literature search,Wide range of types Side-by-side,Product type,Double chamber Drum Pulsator,Window Split Packaged Central air,Grill and non-grill Mechanic and electronic,Samsung010620BJ-Haier,12,HAIER WHITE GOODS MARKET SHARE, 2000,Refrigera
22、tor,Washing machine,Air conditioner,Percent,Source:LIIC,Microwave,Samsung010620BJ-Haier,13,*Rongsheng and Kelon combined Source:SINO-MR, GfK, LIIC,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
23、,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 and 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 th
24、e 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,CAGR (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,Samsung010620
25、BJ-Haier,14,* Kelon and Rongsheng combined Source:SINO-MR, GfK, LIIC,100%=,North China,Others,Samsung,Electrolux,Meiling,Kelon*,Haier,Siemens,2.3,3.5,0.5,Electrolux and Siemens are doing particularly well in Southwest Apart from Southwest, MNC players are doing better in east China and South China,
26、relatively more affluent areas Samsung is relatively strong in East China and South China,North East,East China,Central South,South West,North West,0.9,0.7,1.4,32.0,11.6,8.5,9.8,5.3,1.7,30.8,36.6,16.1,11.5,7.6,5.9,0.4,21.9,26.0,6.2,9.7,9.4,8.2,10.1,30.3,31.0,14.3,6.9,9.7,10.5,3.3,24.4,20.4,11.0,9.8,
27、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, 2000 Million units, percent,Samsung,Haier/Kelon/Meiling,Siemens/Electrolux,HAIER HAS DEMONSTRATED STRENGTH IN MOST GEOGRAPHIC REGIONS,Samsung010620BJ-Haier,15,*Another Kelons brand Source:SINO-M
28、R, 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 focusing on mid-to-high end market Samsung demonstrated strength in low-price market Kelon uses multi-brand strategy to target both low-to-mid e
29、nd market and mid-to-high end market,1,500 -2,500,2,000 -2,500,2,500 - 3,000,3,000 -4,000, 4,000,2.0,1.9,2.0,24.1,12.5,1.2,17.8,19.6,24.8,0,0,16.0,12.6,0.1,7.7,4.1,45.7,13.8,28.3,16.5,0.1,8.5,10.0,31.5,1.9,3.4,47.3,9.7,1.1,5.9,8.8,7.2,1.3,18.7,36.3,2.0,3.8,2.9,19.3,26.0,9.4,0.4,29.8,0.1,4.3,4.7,0.3,
30、48.1,0.3,12.5,Rongsheng*,0,Refrigerator market share in major cities by price band, 2000 Million units, percent,Electrolux,Kelon/Rongsheng,Siemens,Samsung,HAIERS PRODUCTS COVER ALMOST ALL PRICE SEGMENTS,Samsung010620BJ-Haier,16,*Another Kelons brand Source:SINO-MR, GfK, LIIC,100%=, 100L,Others,Samsu
31、ng,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 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
32、.1,180 - 200L,200 - 225L,225 - 250L,250 - 300L, 300L,2.6,0.03,Rongsheng*,40.4,7.8,0,36.9,0.1,19.8,51.2,13.4,0,1.4,9.6,0,2.8,21.4,24.8,23.3,0.5,9.0,7.7,6.5,1.1,27.1,29.8,9.1,0.8,13.7,5.2,7.5,4.2,29.7,35.5,11.7,0.8,5.9,11.0,10.1,2.9,22.1,23.4,5.4,1.1,7.8,24.1,2.6,1.2,34.4,17.2,8.5,5.2,5.0,13.7,30.4,19
33、.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 TYPES,Samsung010620BJ-Haier,17,CONTENTS,1. Background information,Location Starting year IPO date Number of empl
34、oyees Brand value Market share,Sales revenue Equity structure Era analysis,4. Value chain strategy,5. Organization and ownership,6. Financial performance,Focus on Marketing, advertising and promotion Distribution (channel and sales force),Organization structure,Sales Profit,2. Strategy,3. Product/ma
35、rket,Corporate strategy,Key product offerings Market position Key customers Value proposition Geographic focus Pricing,Samsung010620BJ-Haier,18,APART FROM STRONG BRAND, HAIERS KEY STRENGTHS LIE IN STRONG ATTENTION TO R McKinsey analysis,Specialty shores,First tier city,Second tier city,Third tier ci
36、ty,Haier shop-in-shops,Retailers in first tier cities,Retailers in some 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 stores,Haier A/C sales Co.,Haier sales branches in small s
37、econd tier cities,Wholesales in some third tier cities,Haier sales center in first tier cities,Haier sales center in some 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,Samsu
38、ng010620BJ-Haier,22,CONTENTS,1. Background information,Location Starting year IPO date Number of employees Brand value Market share,Sales revenue Equity structure Era analysis,4. Value chain strategy,5. Organization and ownership,6. Financial performance,Focus on Marketing, advertising and promotion
39、 Distribution (channel and sales force),Organization structure,Sales Profit,2. Strategy,3. Product/market,Corporate strategy,Key product offerings Market position Key customers Value proposition Geographic focus Pricing,Samsung010620BJ-Haier,23,HAIERS ORGANIZATION STRUCTURE,BOD,CEO,President,Executi
40、ve VP,VP,VP,Promotion,Product,Function,Over- seas Prom- otion,Busi- Ness Flow Prom- otion,Logis- Tics Prom- otion,Cash Flow Prom- otion,Refri- gerator BG,A/C BG,Busi- ness A/C BG,Free- zer BG,War shing Machine BG,IT BG,Tech- nical Equip- ment BG,Imme- diate BUs,Tech- nology Center,Plann- ing And Dev
41、el- opment Center,H/R Devel- opment Center,Legal Center,Corpo- rate Culture Center,Secu- rity Center,America BU,East China,Purcha- sing BU,Cash In-flow BU,Europe BU,Middle- East BU,Asia- Pacific BU,East China,East China,Storage & Transp -ortation BU,Cash out-flow BU,Accoun- ting BU,Asset audix- Ing
42、BU,Refrig- erator BU,A/C BU,Hefei BU,Mitsubi- Shi BU,Wuhan BU,W/M BU,Hefei W/M,Shunde Haier,Electro- nics BU,Hefei Electro- nics,Haimei BU,Tourism BU,Super Market BU,Telecom BU,Computer BU,Dish washer BU,Electric Heating BU,Mold BU,Capital Operation BU,Biology BU,Test & Measurement BU,. . .,Overseas
43、 Refriger- ator BU,Guizhou Haier,Special Refriger- ator BU,U.S. Haier,Experi- ment BU,Equip- ment BU,Energy BU,Special Steel BU,Source:Website,Samsung010620BJ-Haier,24,CONTENTS,1. Background information,Location Starting year IPO date Number of employees Brand value Market share,Sales revenue Equity
44、 structure Era analysis,4. Value chain strategy,5. Organization and ownership,6. Financial performance,Focus on Marketing, advertising and promotion Distribution (channel and sales force),Organization structure,Sales,2. Strategy,3. Product/market,Corporate strategy,Key product offerings Market position Key customers Value proposition Geographic focus Pricing,Samsung010620BJ-Haier,25,HISTORICAL REVENUE,CAGR=57%,RMB billions,1995,1996,1997,1998,1999,2000,Source:Mechanics Yearbook,