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How to Increase Xiaomi True Sales Volume and Device Lifetime Value by 30% in UK
through Improvement in User Interface (UI) and User Experience (UX) and IoT
Connectivity
Name:
ID:
2
Table of Contents
Glossary
.............................................................................................................................
3
Executive Summary
...........................................................................................................
4
1.0: Introduction
.................................................................................................................
5
1.1 Smart Phone Industry of United Kingdom
...............................................................
5
1.2 Brief Profile of Xiaomi Corporation
..........................................................................
5
2.0: Problem Definition
......................................................................................................
6
2.1 Current State of Xiaomi
............................................................................................
6
2.2 Xiaomi Smart Phones
..............................................................................................
8
2.3 Xiaomi Environment
...............................................................................................
10
2.3.1 Market Trends
..................................................................................................
11
2.3.2 Industry Forces
................................................................................................
12
3 User Interface
...............................................................................................................
14
3.1 Increase in True Sales volume and Device Lifetime Value through improvement in
User Interface
...............................................................................................................
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4 User Experience
...........................................................................................................
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4.1 Increase in True Sales volume and Device Lifetime Value through improvement in
User Experience
...........................................................................................................
16
5 IoT Connectivity
............................................................................................................
19
5.1 Increase in True Sales volume and Device Lifetime Value through improvement in
IoT Connectivity
...........................................................................................................
19
6 Outlook
..........................................................................................................................
22
7 References
...................................................................................................................
24
3
Glossary UI= User Interface
UX= User Experience
IoT= Internet of Things
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Executive Summary
Xiaomi is looking to increase its true sales volume and device lifetime value by 30% in
the UK market through improvements in User Interface (UI) and User Experience (UX)
and IoT connectivity. By focusing on these areas, Xiaomi can deliver a more seamless
and intuitive user experience, which will result in higher customer satisfaction and
increased sales.
To achieve this goal, Xiaomi will focus on enhancing its UI/UX design to make its
products easier to use and more appealing to consumers. The company will also invest
in IoT connectivity to create a more seamless and integrated user experience, enabling
customers to control and manage their devices from one central location.
By improving the overall user experience, Xiaomi can differentiate itself from
competitors and create a competitive advantage in the market. This, in turn, will drive
increased sales and customer loyalty, leading to higher device lifetime value and more
sustainable growth for the company. Overall, the strategy of focusing on UI/UX and IoT
connectivity presents a clear path for Xiaomi to increase its true sales volume and
device lifetime value in the UK market, helping the company achieve its growth goals
and solidify its position as a leader in the industry.
5
1.0: Introduction
1.1 Smart Phone Industry of United Kingdom The mobile telecommunications market in the UK has expanded rapidly in recent years
as new services have been introduced (
Skowron and Sak-Skowron, 2021). Ofcom, the
UK's Communications Regulator, reports that the telecommunications sector has
experienced the fastest economic growth of any other sector in the last three years
(
Choudrie et al., 2020). Moreover, the smartphone market in the United Kingdom is
predicted to rise to USD18.35 billion by 2027, a CAGR of 3.60 percent. The growth of
the internet and the desire for over-the-top platforms are the primary forces propelling
the UK smartphone market. Earlier, smartphones had a reputation for being expensive
business tools with little features. There were only a handful of low-end cell phones to
choose from, including models by HTC, Motorola, and others (
Strain et al., 2019). After
the June 2007 release of the original iPhone by Apple Inc., the term "smartphone"
began to gain widespread usage. The company's sale of over a million iPhones in just
three months made it the most successful product launch of the decade. Since then,
cutting-edge innovations have reshaped the global smartphone market by making it
possible for smartphones to boast unprecedented features (
Maxwell and Miller, 2020). 1.2 Brief Profile of Xiaomi Corporation
Xiaomi Corporation (hereafter referred as “Xiaomi”) was established in April 2010. The
company is listed on Hong Kong Stock Exchange. The main products offered by the
company include consumer electronics items including smart phones. The company is
known for its high-tech products which connect with each other through IoT Platforms.
The company is headquartered in Beijing and Mr. Jun Lei is leading the company as its
Chief Executive Officer. Being a member of technology hardware and equipment
company, Xiaomi is manufacturing and selling power bank, audio gadgets, cameras,
smart phone, and other lifestyle devices. When it comes to smartphone business line of Xiaomi, the company manufactures and
sells low-cost, low-price phones. Since, focus of the company is on price-sensitive
6
segment of the market, so company does not launch new models quite often. As a
result of this, company competes in the markets with the same products for longer
period and whenever it launches a new smart phone, the model undergoes significant
changes in the form of visible upgrades (Forbes Magazine, 2022). Moreover, the
revenue of the company in 2022 was USD 47.52 billion whereas it was US$ 50.77
billion in 2021 and 35.95 billion in 2020. As compared to 2020, sales increased by
41.23% and as compared to 2021, sales revenue decreased by 6.4% which is a matter
of concern for the company (Bloomberg, 2022). Xiaomi operates in more than 100
countries in different parts of the world and in 2014, Xiaomi was ranked on 70
th
position
among the top 100 most valuable global brands in 2021. Moreover, Pendlebury (2021)
highlighted that in 2021, Xiaomi was the second-largest smartphone maker in the world
as its market share reached 17% which was ahead of Apple’s 14% and behind 17%
market share of Samsung.
2.0: Problem Definition
2.1 Current State of Xiaomi In 2022, Xiaomi experienced decline in its turnover which was a matter of concern for
the company. Bloomberg (2022) reported that in 2022, total turnover of the company
was US$ 47.52 billion compared to US$ 50.77 billion in 2021 and 35.95 billion in 2020.
This marked a decrease of 6.4% which is a matter of concern for the company. So,
there is a need for analysis of the current situation and develop future strategies so that
problem can be overcome.
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Figure 1: Xiaomi Corporation Sales Performance
Source: Yordan (2022)
According to Laricchia (2022), despite a very good performance in 2022, Xiaomi
revenue dives 10% after smartphone demand declined and this trend was not only
observed in the domestic market but also in the foreign markets in which the company
was operating. The decline in sales arises because of decline in both Internet services
as well as decline in smart electronics segment. The surprise net loss of 1.5 billion Yuan
for the third quarter was beyond the estimates and was regarded as exceptional by the
company so there was a need for taking corrective action so that company may perform
well in the markets in which it operates. The main products offered by the company
include power bank, audio, lifestyle items which include headphones, in-ear
headphones, Bluetooth headset and speakers, camera, home security cameras as well
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as action cameras along with robot builder and electronic scooter. Company is also
offering bedside lamp along with body composition scale (Statista, 2022).
The following strategies were adopted by Xiaomi: Continuously introducing innovative
products with high performance and features. Designing products with user-friendly
interfaces and easy-to-use features that make the customer experience more enjoyable.
Investing in customer service and technical support to ensure customers have a
seamless experience with Xiaomi products. Creating environmentally friendly products,
packaging, and production to attract conscious customers. Promoting Xiaomi's brand
image and commitment to innovation and customer satisfaction through effective
marketing campaigns. Expanding reach and market presence by partnering with key
industries. Fostering loyalty to Xiaomi through social media and other channels.
2.2 Xiaomi Smart Phones
An evaluation of business model of the company highlights that company is offering
cheap and low-cost mobile phones (Walker-Todd, 2022). Since, company is focusing on
low-cost price segments, so company is not offering new models quite often which
means that company competes with its rivals with its existing rivals with the existing
markets. However, whenever a new smartphone handset is launched, it has visible
changes so that company can face competition with rivals such as Oppo, Huawei,
Apple, Meizu, Samsungand Vivo.Adams (2022) highlighted that despite company is
offering low-cost, low-price smartphones, however, it is important to highlight that
despite cheapness, Xiaomi is offering high quality hardware, such as high-quality CPUs
and its smartphones have high refresh rate displays as well as it offers latest features
(Zhang, 2022).
In the market, companies are increasingly focusing on profits instead of revenue-
defined market share when measuring success. As smartphones become more
commoditized and similar in terms of features and capabilities, companies are looking at
other metrics to determine their success in the market. Companies are looking at their
share of profits generated from the smartphone market rather than their share of
revenue. In other words, a high revenue share does not necessarily translate into
profitability.
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Apple, for example, is already taking this approach, looking at its markets globally and
nationally based on share of profits rather than revenue. By shifting focus from revenue
to profits, companies can identify areas for improvement and understand their true
financial performance. Companies in the UK can improve their bottom line if they focus
on share of profits rather than market share in terms of revenue.
Walker-Todd (2022) highlighted that Xiaomi mobiles phones should be regarded as one
of the best value smartphones in the market given the fact that it is offering bundle of
benefits to the users and at the same time, it is an affordable mobile phone. Owing to
the business segment that it serves as well as its business model. Xiaomi did not
succeed in develop as good brand name as Apple and Samsung have. Xiaomi has
been competing with these phones based on its excellent build quality and camera
specifications. The mobile phones of the company are also had good battery life,
performance as well as cameras. Some of the top performing flagship mobile phones of
the company include Xiaomi 12 Pro, Xiaomi Mi 11 Ultra, Xiaomi Poco X3 NFC.
Owing to the decline in sales and performance of the Xiaomi, there is a need for the
evaluation of factors through which decline in Xiaomi’s true sales volume and device
lifetime value (amount of money that Xiaomi can earn from a customer from buying a
phone till the phone is actually disposed). According to Mollah
(2018), to compete in the smartphone industry, firms should analyze factors including
political state of the country, change in technology and economic conditions affect the
performance of the smartphone industry, size of the firms, leadership support, top
management abilities and internal resources. Moreover, Rahim et al. (2016) argued that
firm's scope of activities; nature and type of products, product and technology synergy,
technological readiness, level of innovativeness, and the level of support it receives
from its upper management may become the basis of market competitiveness of the
firm.
Referring to the smartphone industry, Park et al., (2013), Lashin and Helmy (2021), and
Kodali et al., (2016 ) highlighted different ways in which market competitiveness and
consequently, sales and device lifetime value can be increased. According to Park et al.,
(2013), penetration of mobile phones can be increased by improving user interface of
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mobile phone. They argued that user interface has a significant impact on mobile
penetration as it affects the user experience and therefore the likelihood of people
adopting and using mobile devices. A well-designed user interface makes it easy and
intuitive for users to perform tasks on their mobile devices, leading to increased usage
and popularity. Poor user interface design, on the other hand, can lead to frustration and
decreased usage, potentially hindering the penetration of mobile devices. Moreover,
Lashin and Helmy (2021) argued that User interface experience affects mobile
penetration by determining the ease and enjoyment of using mobile devices. A positive
user interface experience can lead to increased adoption and usage of mobile devices,
while a poor experience can deter people from using them. Features such as intuitive
navigation, clear graphics, and responsive touch controls all contribute to a positive user
interface experience, while factors such as slow performance, confusing layout, and
difficult-to-use controls can negatively impact it. Overall, the user interface experience
plays a crucial role in determining the level of mobile penetration. Moreover, according
to Kodali et al., (2016), IoT in smartphones has led to an increase in mobile penetration
by providing users with more connected devices and services. This has led to a higher
demand for smartphones and mobile data services, leading to an increase in the
number of people using mobile devices. Additionally, the integration of IoT technology in
smartphones has made it easier for users to control and access a wider range of
connected devices and services, further driving adoption and usage.
Based on this discussion, there is a need for the evaluation of importance of UI and UX
along with use of IoT in smartphones so that Xiaomi’s true sales volume and device
lifetime value can be increased by 30% in UK through Improvement in user Interface
(UI), user experience (UX) and IoT connectivity in Xiaomi’s smartphones.
2.3 Xiaomi Environment The smartphone market is a highly competitive and rapidly evolving industry, with new
technologies and models constantly being introduced. Xiaomi is a leading smartphone
brand in the market, known for its high-quality devices and affordable prices. Xiaomi has
positioned itself as a provider of premium-quality devices at a more accessible price
point compared to other premium smartphone brands.
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2.3.1 Market Trends
Businesses and marketers invest significant resources to secure such authorizations.
This is why it is so challenging for new people to enter the sector. However, a few
independent manufacturers have found success selling cellphones in the region
(
Varriale et al., 2022). However, many smartphone makers in the country expect their
sales to be negatively impacted by the country's exit from the European Union (EU)
(
Alam, 2021). Superior handheld gadget marketers and producers are seeing increased
success in attracting clients around the country (
Mubassira and Das, 2019). Phone
Market in the UK Many countries throughout the world now considers cell phones to be
a culturally significant part of daily life. More individuals will use smartphones in the
future because of the popularity of social media apps like Facebook, Twitter and
Pinterest. More people could get benefit from the greatest ease and productivity that
these technologies provide (
Abbasi et al., 2021).
Xiaomi, like any other company in the smartphone market, is impacted by various
market forces that shape its business operations and strategies. Some of the key
market forces that impact Xiaomi include: Xiaomi faces intense competition from both
established players like Apple and Samsung as well as from new entrants in the market
(Sun and Fah, 2020). The company must constantly innovate and differentiate its
products to remain competitive. The rapid pace of technological change in the
smartphone market means that Xiaomi must continually invest in research and
development to ensure its products remain technologically advanced and relevant to
customers. With a few exceptions, such as Google, the suppliers in the smartphone business have
little leverage in negotiations. Google is a major player in the smartphone market.
Android is the dominant mobile operating system. Recently, Huawei's sales have
dropped due to a restriction imposed on the company because of its Android OS
(Cartwright, 2020). Besides those two major businesses, the vast majority of suppliers
are smaller outfits, the vast majority of which are based in Asia (
Lee et al., 2019).
Buyers now have more leverage in the smartphone market as a result of a number of
variables. The proliferation of industry substitutes is a key factor contributing to
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customers' rising bargaining power. Customers around the world now have more
leverage in negotiations thanks to rising levels of competition (
Chen et al., 2019).
Figure: The Smartphone Duopoly
Source: (Richter, 2021)
2.3.2 Industry Forces
The smartphone industry, in which Xiaomi operates, is influenced by several key forces:
The smartphone market is highly competitive, with several major players such as Apple,
Samsung, Huawei, and Oppo, among others. . A channel-defined approach refers to the
method a company uses to distribute and sell its products to customers. Companies can
choose to rely on direct appeals or joint merchandising special programs with network
providers to sell their products. This approach involves selling products directly to
customers through a company's own retail stores, online stores, or direct-to-consumer
(D2C) channels. Companies like Google Pixel use this approach to maintain control
over the customer experience and build direct relationships with their customers.
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Joint merchandising special programs with network providers: This approach involves
partnering with network providers to sell products through their retail stores or online
channels. The network provider often provides marketing and promotional support, as
well as technical support and customer service, in exchange for a share of the revenue.
Companies like iPhone 14 typically use this approach to gain wider distribution and
reach more customers.
New entrants pose a moderate risk to the smartphone business. Nonetheless, new
entrants face stiff competition from established firms that spend heavily on advertising
and research & development in an effort to maintain their market dominance. As a
result, businesses face substantial obstacles that must be overcome if they are to
maintain or increase their competitive edge (
Majava and Isoherranen, 2019). There are
already many alternatives on the market to choose from, with many different models
available for each market (
Rahman et al., 2019). Brand recognition, investment in R&D,
and stringent quality controls are some other aspects of the current market that help to
mitigate the threat of new entrants. Xiaomi competes with these players in terms of product quality, pricing, and marketing.
The smartphone industry is constantly evolving, with new advancements in areas such
as screen technology, camera quality, and processing power, among others. Xiaomi
needs to keep up with these advancements to remain competitive. The preferences of
consumers play a significant role in shaping the smartphone industry. Xiaomi needs to
be aware of changing consumer preferences and trends, such as the increasing
demand for larger screens, better cameras, and longer battery life. Effective supply
chain management is crucial in the smartphone industry, as it affects the cost of
production and the time-to-market of new products. Xiaomi needs to maintain good
relationships with its suppliers and ensure efficient and reliable supply chains to remain
competitive. Governments around the world are becoming increasingly involved in
regulating the smartphone industry, particularly with regards to data privacy and
security. Xiaomi must comply with these regulations to maintain its reputation and
remain competitive.
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3 User Interface
3.1 Increase in True Sales volume and Device Lifetime Value through
improvement in User Interface
User interface (UI) refers to the way a user interacts with a computer system or
application (Joo, 2017). It is the visual and interactive aspect of a product that allows a
user to access and manipulate its functions. The importance of user interface lies in its
role in determining the ease of use and overall user experience of a product. A well-
designed UI makes it easy for users to perform tasks and access the information they
need, leading to increased productivity and satisfaction (Sridevi, 2014). On the other
hand, a poorly designed UI can cause confusion and frustration, leading to decreased
user engagement and potentially damaging a company's reputation (Lazar, Jones, and
Shneiderman, 2006).
Figure: Mobile UI Design Methods
Source: (Velocity, 2022)
Moreover, the user interface is also an important factor in attracting and retaining
customers. A user-friendly interface can make a product stand out in a crowded market
and differentiate it from competitors. A good UI can also reduce the learning curve for
new users, making the product more accessible and increasing the likelihood of
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adoption (Joo, 2017). The importance of user interface lies in its impact on the user
experience, customer satisfaction, and overall success of a product. A well-designed UI
can increase productivity, attract and retain customers, and differentiate a product from
its competitors.
A well-designed user interface makes it easier for customers to navigate and use a
device or service, which can improve overall satisfaction and encourage repeat
purchases (Sridevi, 2014). A visually appealing and well-designed user interface can
create a positive brand image and increase the perceived value of a product. An
intuitive and engaging user interface can keep customers using a product for longer
periods of time, increasing their overall satisfaction and likelihood of becoming repeat
customers. A well-designed user interface can also provide customers with quick access
to the product's functionalities, making it easier for them to use and enjoy the product,
leading to increased satisfaction (Sridevi, 2014).
A well-designed user interface can also make it easier for customers to access
customer support and resolve issues, leading to improved satisfaction and reduced
customer churn. Improving the user interface is a crucial factor in increasing Xiaomi's
true sales volume and device lifetime value in the UK. A user-friendly and visually
appealing interface can provide customers with a positive experience, leading to
increased satisfaction and higher device lifetime value. To achieve this, Xiaomi can
focus on several key areas. Firstly, the user interface should be designed with usability
in mind, making it easy and intuitive to use. This will reduce frustration and increase
customer satisfaction, leading to increased sales and higher device lifetime value.
Secondly, the user interface should be visually appealing, using engaging and attractive
graphics to make the product stand out in a crowded market.
In addition, consistency in the design of the user interface is important, as it can reduce
confusion and increase user confidence. Clear and concise instructions should also be
provided, helping users understand how to use the product and increasing customer
satisfaction. Customization options can also play a role in increasing customer
satisfaction and device lifetime value. Allowing users to personalize their user interface
can increase user engagement and provide a unique experience, leading to higher
device lifetime value.
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Finally, regular updates to the user interface can address user feedback and improve
the user experience. This can lead to increased customer satisfaction and higher device
lifetime value over time. By implementing these strategies, Xiaomi can increase its true
sales volume and device lifetime value in the UK by providing a better user experience
to its customers. This can be achieved through a focus on usability, visual appeal,
consistency, clear instructions, customization options, and regular updates to the user
interface.
4 User Experience
4.1 Increase in True Sales volume and Device Lifetime Value through
improvement in User Experience
User experience (UX) refers to the overall experience and satisfaction a person has with
a product, system or service, including the design, functionality, and overall satisfaction
(Rusu et al., 2015). User experience is important because it directly affects the
customer's perception of the product and their likelihood to use it again and recommend
it to others. A positive user experience can lead to increased customer satisfaction,
higher sales, and increased customer loyalty (Kujala et al., 2011). On the other hand, a
negative user experience can result in customer frustration, decreased sales, and
negative customer feedback. Good user experience is the result of careful design,
taking into accounts the needs and preferences of the target audience. This includes
considering factors such as accessibility, usability, performance, security, and overall
aesthetic appeal.
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Figure 1: Critical Components of Mobile Design Source: (Khindri, 2022)
There are three critical components of mobile UX design: Accessibility, Efficiency, and
Discoverability. Accessibility: This refers to how easily users can access and use the
features and functions of a mobile device (Desideia and Bandung, 2020). Accessibility is
about making sure that users can complete tasks easily and intuitively, regardless of
their device or operating system. Efficiency: This refers to how quickly and smoothly
users can complete tasks on a mobile device (Desideria and Bandung, 2020). Efficiency
is about reducing the number of steps required to complete tasks and streamlining the
user experience. Discoverability: This refers to how easily users can find and access the
features and functions of a mobile device (Desideria and Bandung, 2020).
Discoverability is about making sure that users can easily find what they are looking for,
without having to search or navigate through multiple menus and screens.
Improving user experience requires understanding the needs and preferences of the
target audience, as well as ongoing testing and feedback to continuously refine the
design (Hypponen et al., 2014). The ultimate goal is to create a product that is not only
18
functional and efficient, but also enjoyable to use, leading to increased customer
satisfaction and success for the organization.
A positive user experience can increase customer satisfaction, leading to increased
loyalty and repeat purchases. A positive user experience can also create a positive
brand image and increase the perceived value of a product, leading to increased sales
and higher customer lifetime value (Rusu et al., 2015). A positive user experience can
keep customers using a product for longer periods of time, leading to increased
satisfaction and the likelihood of becoming repeat customers. A positive user experience
can make it easier for customers to adopt and use a product, leading to increased
customer satisfaction and increased sales (Hypponen et al., 2014). A positive user
experience can also reduce customer churn, leading to increased customer lifetime
value and increased sales over time (Kujala et al., 2011).
Improving user experience is a critical factor in increasing Xiaomi's true sales volume
and device lifetime value in the UK. Here are some steps that Xiaomi can take to
achieve this goal: To understand the needs and preferences of the target audience,
Xiaomi can conduct surveys, focus groups, and other forms of user research. This will
provide valuable insights into what customers want and need from Xiaomi's products
and services.
Based on the user research, Xiaomi can design its products and services to meet the
specific needs and preferences of its target audience. This includes considering factors
such as ease of use, accessibility, performance, and overall aesthetic appeal.
Continuously testing and refining the user experience is key to success. Xiaomi can
gather feedback from customers through online surveys, in-person tests, and other
methods to ensure that its products and services meet the changing needs of its target
audience.
Personalization can improve the user experience by allowing customers to customize
their devices and services to meet their specific needs. Xiaomi can offer a range of
customization options, such as user profiles, themes, and settings, to make its products
and services more appealing to customers. To make the customer experience as
seamless and enjoyable as possible, Xiaomi can streamline the customer journey, from
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initial research to purchase and beyond. This includes improving website design,
offering clear and concise product information, and providing helpful customer support.
By implementing these strategies, Xiaomi can improve the user experience and
increase its true sales volume and device lifetime value in the UK. A positive user
experience leads to increased customer satisfaction and loyalty, which in turn leads to
increased sales and long-term success for the organization.
5 IoT Connectivity
5.1 Increase in True Sales volume and Device Lifetime Value through
improvement in IoT Connectivity
IoT connectivity refers to the communication and interconnectivity of various devices
and sensors through the Internet, allowing the exchange of data and enabling
automation, control, and remote monitoring (Abdul-Qawy et al., 2015). In a business
organization, IoT connectivity enables the integration of smart devices and systems to
improve operational efficiency, reduce costs, and gain valuable insights through data
analysis (Mouha, 2021). The effective implementation of IoT connectivity in a business
requires clear objectives, a well-defined strategy, secure network infrastructure, and
effective data management practices (Chen et al., 2014).
The features of IoT connectivity can be broadly categorized into the following: IoT
devices can communicate and exchange data with each other, enabling the creation of
a connected network of devices that can work together to achieve a common goal (Bello
and Zeadally, 2014). IoT connectivity can automate various processes and tasks,
reducing the need for manual intervention and improving efficiency (Chegini et al.,
2021). IoT connectivity is highly scalable, allowing organizations to easily add or remove
devices as needed to meet changing business requirements (Gao et al., 2016). IoT connectivity can be tailored to meet the specific needs of an organization, enabling
the customization of devices and systems to meet specific requirements. Improvement
in IoT connectivity can greatly enhance the performance of an organization by providing
new opportunities for automation, real-time data collection, and better decision making
(Saengchai and Jermsittiparsert, 2019). By automating processes, reducing errors, and
20
gaining a deeper understanding of their operations, organizations can optimize their
performance and gain a competitive edge (Mercan et al., 2021). In addition, IoT can
also lead to cost savings through predictive maintenance and energy management,
further boosting the performance and profitability of the organization. To increase Xiaomi's true sales volume by 30% in the UK, improvement in IoT
connectivity is crucial. Xiaomi can offer a comprehensive IoT ecosystem of
interconnected smart devices, ensuring compatibility with existing technology and
platforms like Amazon Alexa and Google Home. Improving the connectivity and stability
of its devices, streamlining the installation and setup process, and enhancing data
privacy and security will provide a reliable user experience (Bouten et al., 2014).
Offering value-added services such as remote monitoring and control, energy
management, and predictive maintenance can make Xiaomi's devices even more
attractive to customers. Partnering with service providers such as internet service
providers and home automation companies can offer bundled packages and make it
easier for customers to adopt Xiaomi's technology. Additionally, providing training and
support to customers will help them get the most out of Xiaomi's technology and
increase customer satisfaction. By implementing these strategies, Xiaomi can achieve a
30% increase in its true sales volume in the UK.
IoT connectivity is closely related to the device lifetime value of a product as it enables
better device management and can increase the longevity of the product (Tao et al.,
2016). Through IoT connectivity, device performance can be monitored and controlled
remotely, reducing downtime and the need for manual intervention (Bhaskaran et al.,
2021). This results in increased device uptime and reduces maintenance costs,
extending the life of the product. Predictive maintenance alerts can also be generated
through IoT connectivity, which allows for proactively addressing potential issues before
they become major problems, further increasing product lifespan (Karimanzira and
Rauschenbach, 2019). Improvement in IoT connectivity can significantly impact the
device lifetime value in an organization by enabling better device management and
increasing device longevity (Hribar et al., 2018). Making the installation and setup
process simple and straightforward will reduce customer frustration and increase the
likelihood that they will continue using the device for an extended period of time (Ives,
21
Palese, and Rodriguez, 2016). Providing additional services such as remote monitoring
and control, energy management, and predictive maintenance will make Xiaomi's
devices more attractive to customers and increase the likelihood that they will continue
using the device. Partnering with internet service providers and home automation
companies to offer bundled packages and provide training and support to customers will
make it easier for them to adopt Xiaomi's technology and increase customer
satisfaction. By implementing these strategies, Xiaomi can achieve a 30% increase in
its device lifetime value in the UK and provide a better user experience to its customers.
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6 Outlook
This report found that improvement in user interface (UI), user experience (UX), and IoT
connectivity can significantly help Xiaomi to increase true sales and device lifetime
value. The analysis indicated that Xiaomi needs to apply effective strategies to improve
its UI, UX and IoT connectivity. Part II of this report will conduct a quantitative research
to further develop understanding that how improvement in UI, UX and IoT connectivity
are significant for Xiaomi to improve its financial performance. Because, 30% increase
in true sales and device lifetime value are the priority concerns of Xiaomi. Part II will employ the research onion to supply a thorough examination of our research
strategy (Saunder, Lewis and Thornhill, 2009). Since the present study's model is so all-
encompassing, it is what is driving to take this next step. The social sciences employ
positivism and interpretivism, while the natural sciences employ realism (
Khosla, 2021).
Because this is a social science problem, the realism philosophical framework cannot
be used to address it. As a qualitative philosophy, interpretivism is not applicable. This
research will employ positivism because it is a quantitative approach to the social
sciences. This research will apply a deductive method. This research will apply survey
research strategy. It will conduct a structured survey for the collection of firsthand
information. Researcher will also take into consideration other competitors such as:
Samsung and Apple, because it will help to understand that what strategies are adopted
by these competitors. The study will employ a cross-sectional data type, as the data will
only be collected at a single point in time from a wide range of different companies.
In the current study, closed-ended questions will be employed to collect quantitative
data. Both the population and sample size are determined by researchers. A representative
sample of 300 customers from the smartphone industry in UK has been selected for the
study. Probability sampling and non-probability sampling are two types of sampling. The
two methods are distinct in their advantages and disadvantages; for example, in a
probability sample, each person has an equal chance of being selected, whereas in a
non-probability sample, this equality does not exist. The former yields more
generalizable results when compared to non-probability sampling methods. This study
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used simple random sampling as a type of probability sampling. A Likert scale ranges
from strongly disagree to strongly agree for variables included in this work. A variety of tests will be applied to examine the things more closely. To determine the
magnitude and nature of any associations between variables (Lee, 2021), descriptive
statistics will be used first. The choice between chi-square and correlation could be
made using inferential statistics. However, the chi-square test can only provide
information on the statistical significance of the study and cannot indicate the direction
of the relationships between the variables. In light of this analysis showing that
correlation outperforms chi-square, correlation was used exclusively (Falcous, 2021). In
this study, multiple regression has been used to analyze the relationships between the
variables. Various independent variables will be used to determine the impact of the
study's dependent variable through multiple regression analysis. Most researchers employ a questionnaire with five or six items measuring a single
variable to provide the highest possible degree of dependability. If Cronbach's is high,
the reliability of the data is good. However this work applies internal consistency results.
If the study instruments are valid, then they measure what they claim to measure.
Constructed validity is one of several types of validity and is achieved by using an
already prepared structured questionnaire (
Lee, 2021).
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