How to start an own mobile company, Where Apple and Samsung are big companies, which spend billions on advertising. There may have to be thought many times to open a new mobile company. But the company like Xiaomi, Oneplus told that it is not that difficult to bring the new company to the market.
The phone of these mobile company is in the market today. This is an example that can be followed. Whether you are already running a smartphone company or are thinking of starting up.
What does it take to set up a mobile company?
There are 2 ways of looking at everything; First of all, starting a mobile company is not an easy task, for this you have to get approval from the government firm, factory and office will have to be established.
Then you have to buy production components and electronic equipment.
But if you look at the same in different ways, it is not that difficult task because there are many companies which together with software company do business of electric and electronic devices and help new entrepreneurs.
Along with this, the help of apps is also available. All you need is money, machine, manpower and manufacturer as well as substantial investment, time and space.
Micromax, Lava and Carbon company are an example for a new company.
What are the things you should keep in mind to start a smartphone company?
1. Build Products for Technology Lovers
To build a successful smart company, your product must be excellent. You have to see your competitor company and analyze its product and develop the feature of your product.
Unless you give a good option to your customer, why would they buy your phone? It should have such features which attract towards itself like Xiaomi’s phones did, which holds a special and big place in the Indian market today.
Whatever phone Oneplus has taken out, it gives a tough competition to the big brands. Its design attracted people towards itself and due to good features, the phone stands as an alternative to a good and expensive brand.
Xiaomi and Oneplus attracted the technology lovers and today it is standing in front of us as a big brand. With this you can take an example of what kind of features and design you have to pay attention to.
Which will force most people to buy your product. This is very important to be a good option.
2. Find the cheapest option to sell your product
Brands like Xiaomi and OnePlus have refused to sell their mobiles through third party distribution channels and expensive retail stores. He knew that in this way it would take more time as well as a lot of money.
Instead, he himself sold his products directly to the customers through e-commerce towards market entry, which saved him a lot of money and time. Which he used in the rest of the work.
One disadvantage of direct selling is that it is difficult to see everything in it. Xiaomi and Oneplus competed with the big brand company by selling their phones at low cost and with good features.
In this way, only with a little loss, but they could reach every customer, as a result of which both of them are standing in the market by becoming a popular brand today.
The advantage of this direct selling method is that the seller does not have to go to the customer, but the customer himself comes to the seller and buys the product.
If you also want to buy a brand, then after good features and great design, you should also use e-commerce, to reach direct people, it will save your money as well as you will be in the eyes of millions of buyers at the same time.
3. Remove less product of same model in the market
You can make and sell many products at a time, but it reduces the real price of your phone because you already have to sell products at a price lower than compare with big brands.
So that you can make your customers and after that if you bring unlimited phones of the same model in the market, then your value also decreases.
There is a psychology of the customer, according to which the customer is good behind the thing, but if it is less in the market, then it should be bought, this psychology is used by big brands like Apple.
Apple did the same thing with the iPhone and iPad, due to which it is present as a big and popular brand in the market today.
This is the reason why Xiaomi and Oneplus phones go out of stock as soon as they come in the market.
Instead of being a new and small company, one then you have limited resources and money, if you put many products of the same model in the market and for some reason they are not able to sell much, then you may have to bear the loss. So limit production.
4. Raise Demand and Awareness
The strategy for entering the market of a big brand is different than that of a small company.
How long a company will be able to perform in the market, it depends on its go-to-market strategy, today social media is such a powerful tool, with the help of which you can reach your point to the whole world at once.
Different advertisements do not have to be spent separately. Brands like Xiaomi have made good use of this marketing power.
They announce through their website social media and press that when are they launching the new model and when the old model is going to come in the stock market.
In this way the phones of this brand are sold as soon as they come in the market. Strong marketing power is used to build a strong customer relationship.
Oneplus has even surpassed Xiaomi in terms of marketing. To buy Oneplus, you have to get an invitation, you have to share it everywhere and you have to do a lot more.
With this, you can guess how you will have to come up with new ideas to make your phone company popular. You can also get the contest done so that people will participate in it to win the phone and this will also keep your advertisement.
5. Sell Profitable Service and Product
If you follow the four steps mentioned, then you will be able to create a big market for your phone.
Now it starts earning profit from this business because whatever business you are doing, you are doing it only for profit, but the four steps mentioned earlier will not bring much profit.
This will only increase the marketing of your product and among the customers.
So now the answer to how you earn profit is to sell the service of the on-product so that you can make money; tmall.com is a way for Xiaomi to make more profit. An e-commerce site in tmall.com and providing online service through your phone; Buying Theme.
Oneplus sells case cover for $ 50-50 to buy its phone, which is very expensive but people buy it.
Retail stores use this technique as a status symbol, they always sell limited low price things to attract people to their store so that more and more people come to their store.
After this it happens that when those customers have to buy any goods later, they go to the same store, then these stores cover their loss by charging more. So these were all examples.
You also have to think of a way so that you can earn maximum profit. Apart from this, you also have to keep an eye on the mobile company of other brands that when they are launching a new model, you also have to launch a new model around the same.
Because if you do not do this, then you will fall behind in the race to attract customers.
You have to read the interviews of big businessmen, often they talk about their past mistakes and their success history in their interviews. With which you will have an idea how business can be started. And which mistakes can be avoided.
If you want to start your mobile business, then by following these steps, you can avoid further mistakes.