Which countries are targeted for my business?
Many entrepreneurs mistakenly believe that it is necessary to simultaneously enter all possible markets, and then focus on those where returns are highest. The competition in Asian markets is high and your product will have to compete with the products of international corporations. Focus is the first step to success. You need to understand exactly where you want to expand: China, India, Korea, Vietnam, the Philippines, Indonesia or other states. Asian countries are heterogeneous - consumption patterns and habits differ from region to region.
Which products I want to sell is Asia?
Asians' consumer preferences may seem strange to us. Moreover, our habits seem exotic to them. These features must be taken into account when exporting to China and other Asian countries. As in the previous paragraph, focus is the path to success. You need to make a short list of positions that, in your opinion, can become successful in Asia and conduct market research on them to choose the most relevant for Asian consumers. It is important to remember that the product itself also needs to be adapted.
What are the most important issues for me?
Most of the requests we received over the past 10 years were typical: trends, export and import volumes etc. However, macroeconomic research, the abundance of graphs and tables can not always answer the questions: is my product interesting to consumers and which sales channels should I choose? At this stage, we recommend you to formulate questions as simply as possible and our experts will determine the methods for obtaining an answer to them. The RAUIE has 5 operating representative offices in China, so we keep abreast of the demand of Chinese consumers and are always ready to help Russian exporters.
Desk vs field research
The choice of methods depends on the product and the list of questions. Each of these tools solves its own problems. Field research is more expensive, as it includes working with consumers on the spot: conducting focus groups, surveys, interviews. You need to understand how much the use of such methods is in demand. Usually they are used for B2C products, IT solutions, applications and games. It is better to trust common sense and professionals who will be able to choose the best solutions for you.
Is the development of a strategy for entering the Asian market realy needed?
Asian markets differ from Russian and European, not only by the consumer preferences, but also by entry barriers as well as structure. The main goal of marketing research is to understand whether there is a prospect and how to enter the market.Typically, entrepreneurs prefer to search for the answer on their own. This does not always give the desired result: information from open sources is often not enough for the right conclusions. In order to correctly formulate a strategy for entering the market, it is necessary to understand the Asian context and be there. This will allow you to receive classified information from business associations, contact distributors and distribution networks. Also it will be useful to study the strategies of Russian and Western competitors.
Market research in China and Asia is an important step for expanding business. This step can be timid or maybe leaps and bounds, it all depends on how well the market analysis is carried out. We believe that marketing research should, first of all, save time and money, warn against mistakes and give expert advice. Chinese companies successfully work and export to many countries, because they're well informed and think strategically.
You can contact:
Maxim Kuznetsov - vice-president of the RAUIE
WeChat: maximkuznetsov
Gao Muyang - deputy Head of trade and economic development Department
WeChat ID: Sauron_1863