Name: Ananta Vishain

Roll No: 21IB307

Xiaomi
Xiaomi Corporation is a Chinese gadget manufacturer established by Lei Jun in 2010 and
headquartered in Beijing. Xiaomi makes and puts resources into cell phones, versatile
applications, trimmers, headphones, television, and numerous other products. 

Xiaomi's business approach is one of cost leadership. Xiaomi was built on the notion that
"high-quality technology doesn't have to cost a fortune," according to its founder and CEO
Lei Jun. As a result, the company provides low-cost cell phones and other internet-related
products and services.

In a broader sense, Xiaomi's business strategy is built around four pillars:

 Having a large fan base and utilising it. Xiaomi has a large global fan base that
numbers in the millions. Fans spend endless hours online debating Xiaomi goods on
various forums, creating brand recognition at no further cost to Xiaomi. Similarly, to
its biggest competitor Apple, the mobile internet start-up has a cult-like following.
Xiaomi promotes, develops, and encourages its followers through Mi Fan Festivals,
which include discounts and gifts, according to the company's business strategy. The
company's motto is "Just for Fans," and it is well-known for hiring new staff from
among Mi fans.
 Creating high-quality items at an affordable cost. Xiaomi follows the 'design as
you built’' principle, which involves incorporating Mi Fans' feedback at all stages of
new product development. Xiaomi's competitive edge stems from the low prices of its
goods and services. Simply put, the low pricing of Xiaomi products and services are
the primary motivation for consumers to purchase them.
 Constant optimization of products through eco-chain. The mobile internet
provider is rapidly expanding its product and service ecosystem. Another crucial part
of Xiaomi's business strategy is this. Xiaomi currently has 55 firms in its ecosystem,
including 29 that were built from the ground up by Xiaomi. From smartphones to rice
cookers, the ecosystem provides an ever-increasing spectrum of items.
 Xiaomi Triathlon: Hardware+New Retail+Internet. Hardware, new retail, and the
internet are all revenue opportunities for Xiaomi Triathlon. Xiaomi considers itself to
be more of an internet and software firm than a hardware company.
Apple 
Steve Jobs, Steve Wozniak, and Ronald Wayne founded Apple on the 1st of April 1976 and
brought creativity to the table in the form of their rendition of a personal computer. Apple is
one of the world’s most popular and recognized labels. The company has experienced
unparalleled revenue growth, from just $8 billion in 2004 to hit over $274B last year. This is
more when compared to other technology giants out there today such as Google ($181B) and
Microsoft ($143B).
Another feature that sets Apple apart from the competition is vertical integration. The vertical
model has yielded significant dividends for it. All of its hardware and software has always
been built, controlled, and manufactured by it. This inherent advantage aids the company in
developing greater synergy between its hardware and applications. Even the apps are strictly
regulated in order to comply with Apple's regulations.

Apple’s main strategies are as follows: -

Apple's main intensive growth strategy is product creation and market penetration.

Apple's product development concentrates upon generating clean, luxury products that are
timeless and appeal to a wider audience, while its market penetration strategy can be summed
up as standing out from the competition by giving its products a sense of distinction and
recognition.

Apple's excellent customer service and seamless product integration are the icings on the
cake that helps it maintain its position as a global leader in the technology and consumer
electronics industries.

Apple's business strategy consists of the following four elements:

 Focus on product design and functionality

Apple products are famous for their design and functionality. The need for a sleek design
with premium features is something that only Apple products can fulfil.
  Strengthening Apple’s ecosystem

It is often praised for its seamless integration and optimization between various networks of
devices, software and services, and is largely emphasized by Apple's focus on privacy. It is
also known for its ability to lock users into the network where it is difficult to escape.

 Improving consumer service experience

Quick solutions for problems are something that is desired by every customer. The customer
service experience is something that is constantly evolving at Apple. With constant changes
and new security measures, Apple provides better Data Protection which is the need of the
hour.

 Reducing the business’s reliance on iPhone sales

iPhone is not the only product which is produced by Apple. Apple has also
revolutionized the PC industry. By bringing new and revolutionary technology like
Airpods, AirTags which have been making a profit to its sales bucket.
 

Both the companies are market leaders. Apple tends to serve high end products with premium
features whereas Xiaomi sells good quality products at a reasonable price .Apple has a
product development approach whereas Xiaomi is more market oriented, it caters to the needs
of the market keeping the price in mind.