China has a gigantic market. At the same time, this market poses extreme challenges due to its cultural and economic characteristics. Our many years of project experience have shown that thorough and extensive preparation is essential for market entry.
The preparation for market entry includes the following questions:
How large is the market potential for your product in China? Are there regional differences that make your product particularly popular?
Are there barriers to market entry? What are these? What are the political framework conditions, e.g. do your products belong to import bans in China? How high are the import duties for your products? Do you need an approval for the distribution of your products, such as medical technology products or products with a CCC certificate?
Who are your competitors? How is the market currently divided among the competitors? How are the competing products priced on the market? What is the sales structure of your competitors?
In what form is market entry possible? Which type of market entry suits your company best? Sales partnership, joint venture, franchising or even independent sales offices?
Who belong to your customer groups and which products from your product portfolio fit as a "pioneer" for market entry? Which market positioning should the pioneer products achieve and which brand strategy (brand registration, brand positioning etc.) will help?
What support is needed to enter the market? Which departments and how many employees do you want to make available for market entry? Does your company have the necessary technology to enter the market? What is the time needed for the different phases of market entry?
What goals and milestones should you set for market entry? How often and in what form does a project screening have to take place in order to check the achievement of objectives promptly and effectively?