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CHAPTER IV STRATEGY ANALYSIS 4.1 Marketing Mix 4.1.1 Products Through the multiple Internet platforms in China, Tencent offers diversified services which include QQ, Weixin or Wechat for communications; Qzone for social networking; QQ Game platform for online games; QQ.com for information; Soso for search engine; Paipai and Tenpay for ecommerce transaction. The company’s business scope mainly covers four ereas: Internet value-add service (IVAS), mobile and telecommunication value-add services (MVAS), online advertising and e-Commerce transactions, to meet the various needs of Internet users including communication, information, entertainment, ecommerce and others. 4.1.2 Price Table 4. 1 Tencent major products and services’ usage fees Usage fee Communications QQ Free Weixin/Wechat Free Value-Added Services (VAS) a) Social Networks QQ Membership RMB 10 per month Super QQ Membership RMB 20 per month 26 Qzone Free; monthly subscription fee for VIP privileges (RMB10); and items sales from apps on open platform Tencent Microblog Free; monthly subscription fee for VIP privileges (RMB10); QQ Show (Avatars) Free; Monthly subscription fee for VIP privileges (RMB10); or item sales QQ Music Free; Monthly subscription fee for VIP privileges (RMB10); or item sale QQ mail Free Mobile VAS Monthly subscription fee for VIP privileges (RMB5-15); or item sales (RMB1- 2 per item) b) Online Games QQ Game Platform Monthly subscription fee for VIP privileges (RMB10-15) or item sales ACGs Monthly subscription fee for VIP privileges (RMB10-30) or item sales MMOGs Monthly subscription fee for VIP privileges (RMB20) or item sales; Time-based Mobile Games Monthly subscription fee for VIP privileges (RMB10) or item sales c) eCommerce Paipai.com Free Tenpay Free Online Advertising Brand display Inventories on QQ.com and verticals; online video platform; QQ IM, Mobile Browser etc; Pricing mainly by cost per time (CPT) or cost per day(CPD). 27 Performance display Inventories mainly on social networks Qzone and Microblog; contextual advertising and mobile advertising; Pricing mainly by cost per sale(CPC) or cost per action(CPA) through bidding system, or by cost per mile(CPM) Search Inventories on SOSO and Paipai search results; keyword-based bidding system Pricing mainly by cost per sale(CPC) Source: Tencent Holding Limited, company data Tencent charges usage fee from use of its products or services, like Qzone, QQ, QQpet, QQshow and so on. Generally, the fee charged is RMB 10 per month. Casual and advanced casual games are charged on a monthly basis, while MMOG are charged differently. Some of them are on item sale model, while some of them have fixed monthly payment model. Advertising mainly collected money through agencies or directly from advertisers with as inventory its QQ IM and QQ portal. Prices was charged by different ways, for example by cost per time, cost per sale or cost per action. 4.1.3 Place (Distribution Channel) Tencent delivered its products and services through multiple distribution channels which include Internet and mobile platform. On the Internet, there are two channels for users to access Tencent’s service. One of them is IM platform, through the IM client-end, users will first log into the messenger and click the bottom embedded in the messenger to get into the link. The other is web-messenger version which user is able to use the messenger service without installing IM platform. 4.1.4 Promotion Tencent conduct a variety of online and offline marketing and promotion activities, including joint marketing activities with telecommunications operators and device manufacturers, in-game promotional events, marketing, and advertisements on the potals. 28 To enhance user loyalty and promote shopping activities, Tencent has partnered with certain merchandisers to offer credit points and promotional discounts. 4.2 Feature and Strategy of Divisional and Product 4.2.1 Communication QQ IM, the largest online community in China, had 798 million monthly active user accounts (MAUs) at the end of year 2012, with 11% growth rate compare with previous year. Peak concurrent user accounts (PCU) also increased by 16% compare with last year and exceeded to 176 million. QQ IM, the largest online community in China, reached over 200 million in January 2013, which is 71.5% of the total netizen maintaining the lead in instant messaging (IM) market. It had over 3.46 billon effective usage hours, accounting for 86.3% of all. Figure 4. 1 IM Daily User Coverage in January 2013 Source: China Internet Watch 29 Figure 4. 2 IM Monthly Effective Usage Time in Jan 2013 Source: China Internet Watch Free of the charge, QQ IM use low-cost strategy to gain its dominant market share in China. Instant messaging is a very sticky application, users typically engage in products for a long period of time and unlikely to switch account with their long established “friends list”. Through the instant messaging, Tencent enhanced user loyalty and build huge user base. Tencent’s QQ IM, command an 88% market share, versus the second player MSN, with a 7% market share, and Aliwangwang 1% (IDC, 2010). Tencent is leading IM platform in China. The large and active user base creates a high barrier to entry, as it is challenging for the competitors to build a similar critical mass of users for their products and services. The strategies for QQ IM leading market in China: 1. Tencent started as an Instant Messaging tool since it founded in 1998. Tencent’s first step in IM tool in China creates the first-mover advantage for itself in IM market. 2. Tencent constant innovate its online or offline productions through detailed analysis of user behavior. 3. In addition to the basic QQ instant messaging tool, Tencent adds features to create an even stronger community. The features which Tencent integrated are entertainment services such as QQ Show, Q Zone, QQ Pets and games, as well as other membership 30 features include priority testing of online games, shopping and so on, in order to difference with its competitor to achieving superior performance. WeChat, a mobile chat application, supports the sending of voice message, pictures and text message to the digital contacts, launched by Tencent on January 21 2011. At the end of March 2012, WeChat (Weixin in Chinese) exceeded 100 million users. With notable growth rate, WeChat reached 300 million users by January 16 2013.Drive by increasing adoption of mobile Internet, Tencent has successful launched Weixin in the domestic market by the innovation features and compelling user experience. Beyond the domestic market, Tencent use WeChat as an international strategy to serve the international markets. On November 25 2012, Apple Inc.’s iOS ranked Wechat the most popular social networking application in six countries and areas(measured by downloads): Taiwan, Hong Kong, Vietnam, Argentina, Thailand and Brunei(App Annie), and it measured top ten in 43 different markets. By extending Tencent’s leading position in communications and social networking from PCs to smart phones via apps, Tencent use cross-sell strategy, which though multiple friends-making channel interact QQ IM and Weixin. Weixin users are able to add friends by using QQ IM current relationship. It also integrating content apps gaming and position services, etc.to enrich user experience. 31 4.2.2 Value-add Services Figure 4. 3 Value-add services Source: Tencent Holdings Limited, 2013 4.2.2.1 Internet Value-add Services (IVAS) Community IVAS is a portfolio of business line highly correlated with QQ IM platform. Community IVAS includes mainly valued-added services design to improve the user experience of popular Tencent’s products. These IVASs are mainly charged based on monthly subscriptions and virtual item sales. Popular community are as QQ membership which related to QQ IM, yellow and green diamond noble connected with Qzone, red diamond noble related to QQ IM. Community IVAS offers higher seniority to the loyal QQ IM users. Thanks to the larger IM platform, in 2011 Qzone remains the largest social 32 networking site in China and Pengyou is the largest real name based social networking site in China when measured by active users. Tencent’s microblog user base quadrupled in 2011 to 68 million. QQ’s complementary products are not always free. The company also offers an optional paid membership. This membership service is called “Diamond”. With the membership the membership the users can enjoy some of QQ’s sub features for free. In order to satisfy people with different need for each feature, QQ offers seven versions of colored diamond services with each color diamond membership targeting one specific feature. For example, members with red diamond can purchase all QQ show costumes for free; members with blue diamond can purchase all Qzone decorations for free. By using this way, people can purchase different color diamonds according to which products the like best and use most often. By charging the members, Tencent use this strategy is also able to lock them in and keep customers relationship. Since the users pay for the services they would use them more often. After they spend all the time in dressing their avatars and decoration their Qzone there are locked in. After monthly membership subscription, users also have a choice wither renew their membership every month or pay for three, six or one year at once. After analysis user’s purchasing behavior, normally after purchased a new avatar looking for a certain month, the user would like to purchase some accessories next month. The users have to renew the relationship or pay by each items. Most people chooses to renew the membership by considering the cost. Therefore, the monthly membership further enables Tencent to keep customer relationship with users. The strategies for QQ membership going forward: 1.
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