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Each company, no matter it's an international or a local, small, and private one, would face similar problems in business development. How can one set up the right procedures on business development? How can one make that an efficient process? How can one get great, and a new brand image in the eyes of customers? I guess, the most important thing is how can one get sufficient profits in China in the marketing and secure the targets in market shares as well? In here, I would like to share with you some of my ideas on business development and ways of marketing them in China. Firstly, an estimation of the size of the market and the industry, research on the distribution channels and the market positioning of your products/services before your decision to set up your new project. You must get to known the China culture well, the difference in cultural affairs and in the conduct of business between the Southeast and Northwest of China will help you design the right strategies on the marketing of your products/services in China; and help you win the good brand image from the beginning. Secondly, you must understand the business structures in China. This will be concerned with the laws and regulations for all the enterprises in China. Get insights into the preferred tax policies, advices and strategies to how to reduce corporate tax, and how to secure exceptions to the rules. Thirdly, you must make a full market analysis of the Chinese market. To do this effectively, you must attempt to establish the attractiveness of the market, any special incentives for the key industries, major trade fairs and some useful contacts. You should also try to understand intellectual property rights, trademarks, patents, copyrights, and most importantly, how to protect your own intellectual property rights! Fourthly, you need to build the right team and an organization, including sales and marketing staff, technical staff, etc. You should come up with the right strategies on investing in the right employees and the correct retention and training schemes. Fifthly, you should commence setting up your own circle/network of friends and/or acquaintances in order to gain all the correct information about the market(s). This network in China is quite important, so it is in your interests to build up a network of contacts in the governments, regulatory bodies, industrial contacts, distributors, and key customers. Sixthly, you should set up the process of strong financial control and integrity; review the P&L analysis regularly and periodically. Finally, you should find out and define the key issues for your survival and prosperity. As we all know, all
these things will happen, depending on the integrity and quality of your
people and of your employees. In order to win the whole market, no matter
where this market is, in China or globally, finding the right people with
the right skill sets is the key to your success in the market place! |
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