china is one(a) of the fastest growing economies in the world today with a coherent GDP growth of more than than 8% per year for the past 10 years. And e genuinely day you read the news, about(predicate) how the market in China is booming. The massive growth is exalt and many companies worldwide be looking forward to backpack advantage of this opportunity. Huge sums of money are invested into various businesses and theatre directors are faced with the task of taking decisions each day to process these investments profitable.
The reason for the high influx of investments is because China currently is an puerile market. It is in the growing stage with a fast pitiful economy which has historically been dominated by the manufacturing industry. There is commodious diversification in various market segments and intervention of presidency policies is widely prevalent. The distribution network is controlled by the local companies and consumer mundaneness varies between the cities.
The profitability of any business in China would depend on various dynamics such as understanding of government policies, relationship with local partners, products pricing and controversy to name a few.
solely as a manager I would like to focus on 2 very important aspects of marketing which would be instrumental in make investment decisions while doing business in China.
1. Localization of friendship and Products
2. Segmentation and Research of the Target Market
Various companies have incurred losings and have failed to capitalize on the opportunities presented to them in the Chinese consumer market. And more often than not these failures have been either due to by-line a global marketing approach or not understanding the market segment by the foreign company. But before we delve deeper into the details of these two aspects let us first look at a common part which might connect these reasons.
Culture: The consumer buying process is consistent across cultures. The level of...If you want to get a honest essay, order it on our website: Ordercustompaper.com
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