China Market Entry Analysis
Advancing into Chinese market requires a detailed understanding of complex factors, including market, customers, potential demand, opportunities, risks, competitors, and expertise, etc. More often than not, it is the better understanding of the market that makes a company compete and outperform its competitors. Without a detailed understanding of the market and competition, any launch is bound to struggle.
We have been successful in supporting many clients on launching into Chinese market by service, or product. A strong China market entry analysis requires going beyond gut feeling. We make a systematic China market entry analysis for clients by providing them with clear understanding of their differentiation and strategy for succeeding in the market. We combine our China market entry analysis resources with commercial awareness based on our in-depth experience of China market. Our market research specialists, whilst offering leading-edge market research skills, also understand the commercial imperatives that drive your business success in China.
Areas where we can provide support on China Market Entry Analysis include, but are not limited to:
Research on your product or service
We make research on your product or service and let you know if they will fit the Chinese market and if there is a potential demand, and we make cost estimates for your product or service to make sure they are competitive and profitable in the local market. While the appeal of the Chinese market may be strong, assessing the needs of the market and possessing a unique product are important considerations for initial China market entry analysis.
Differentiation & opportunity analysis
Identifying and prioritizing specific target market segment are the keys to your business entry. We help you analyze the differentiation of your product or service in China, where your opportunities are, which market segments you should focus on, what the growth forecast is, and what the overall market potential is.
Competition research
Understanding your competition is critical to your success. We make research on your key competitors in China, and give you intellegence on your competitors’ core offerings, their products/services, their differentiation, their market shares, marketing strategy, and pricing structure, etc.
Research on local laws & regulations
No matter what you plan to sell are goods, services or technology, as a first step you will always have to make sure which regulations and policies apply to your industry and product group. You also need to ask yourself a few questions such as, is your industry encouraged, permitted, restricted or prohibited in China? What is the legal and regulatory requirement about the labelling and packaging of your product? Is there any certification and standard required before your product can be sold in China? What is the relevant taxes and fees for the import and distribution of your goods into China market? We will help you answer all these questions and help you avoid unexpected pitfalls and risks when you launch your business in China. More importantly, work on these questions should be started immediately since they can often be time consuming procedures. Jingle office will always work on these questions for you in an efficient and cost effective way.
Identify potential barriers & risks
While there are excellent opportunities in the China market for foreign companies, it is important to know that with each opportunity there are commensurate barriers & risks. We make full analyses on these potential barriers & risks to keep you aware of these pitfalls, and help you navigate through them.
We also help you ensure compliance with local laws and regulations, and in general manage all risks of selling into the China market, so you can realize the market’s awesome potential.
Develop marketing strategy
Marketing strategy is the key to a successful business in China. An appropriate marketing strategy allows you to precisely understand the China local market, your competitors, the best practices for a successful business, especially under the business landscape in China. Compared with the Western world, the uniqueness of Chinese business ecosystem requires a unique market entry strategy to set a right start.
We will give you the keys to define the most optimal approach to entering China market and your brand/channel positioning. Meanwhile, we will give you suggestions and recommendations on how to enter China market, such as, should you have a physical presence in China? Are you in a restricted sector? Should you work with Chinese distributors? We will also help you leverage your brand equity and product offering to fit the business environment in China. Moreover, we will help you develop a pricing structure, sales terms, and an distribution contract. Having these ready for potential consumers or distributors will accelerate your sales process.