Didi President on Beating, Buying Uber in China

The transcript discusses the strategic response to Uber's entry into the Chinese market. Initially, there was fear due to Uber's financial power, but the team decided to compete by leveraging their understanding of the local market and working hard to develop new product lines. The company held daily meetings to strategize and motivate the team, ultimately leading to a successful competitive stance against Uber.

What was the initial reaction of the company when Uber entered the Chinese market?

• They ignored Uber's presence.

• They immediately gave up.

• They were scared but decided to compete.

• They partnered with Uber.

How did the company prepare to face the competition from Uber?

• By reducing their workforce.

• By copying Uber's business model.

• By increasing their marketing budget.

• By holding daily strategy meetings.

What role did the product team play in the company's strategy against Uber?

• They developed new product lines.

• They reduced product features.

• They outsourced their work.

• They focused on customer service.

What was one of the key strategies the company used to compete with Uber?

• They acquired smaller competitors.

• They lowered their prices significantly.

• They expanded internationally.

• They focused on understanding the local market.

Why was understanding the market crucial for the company's strategy?

• It was not considered important.

• It helped them reduce costs.

• It enabled them to copy Uber's strategies.

• It allowed them to better meet customer needs.