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Before the real work on penetrating the Chinese market begins there is a preliminary general examination to check the potential of the idea to be converted into a business. This will ascertain the likelihood of the project‘s success and will include the following aspects:
- Target customer – market segments, market potential
- Competitors – competition, offering and prices
- Defining the best channels to penetrate the market
- Identifying the entry barriers
- Business cultural awareness
- Legal entry modes
After the research is completed, with the results in hand we can produce a more focused marketing plan and sales effort which will provide higher return with a lower outlay of the marketing funds.
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