Market Research as a Module in Market Strategies in China
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As the Chinese market continues to grow and is subject to constant change, careful preparation for market entry is essential. Effective market entry strategies can only result from a deep insight into the relevant market that the company plans to tap in to.
This requires a well thought-through market research including competitor analysis. In the consumer product field, a focus on much more regional differences is a must. Companies have to adopt a China strategy which is not necessarily similar to the “international” one and which is based on the local market data.
Even if there are signs that China will grow into the international world community, Chinese culture and local peculiarities will remain to a certain extent.
The foreign company should choose a partner for its market research who knows the Western and the Chinese markets.
KeywordsMarket Research Marketing Research Relevant Market Chinese Market Market Strategy
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