Prepare for China

How is your Brand Perceived in the Chinese Market?

You should be aware that there are many places products and services are discussed in China’s social media and mainstream media space. If you want to raise your profile in a positive way on China social media you must use appropriate descriptions of your brand and product that attract consumers to what you are selling. Additionally you have the advantage over the Chinese audience when you can associate your brand with the goodwill that NZ holds through the marketing that NZ has put in to China.

As a New Zealand business you must leverage the millions of dollars we as a nation have put in to Brand NZ and the 100% Pure campaign conducted all over the Globe, and especially in China. Brand NZ has helped build the foreign “good-will” and perception that everything from NZ is pure and natural with a high quality and that this is a safe place to buy products from.

The Chinese economy has been rapidly growing over recent years and this is something that cannot be ignored. China’s economy has adjusted from a centrally planned system of international trade to a global market-oriented approach. China will easily become the world’s largest economy with its current rapid growth and expansion efforts. Even now, the Chinese economy has acquired a major role in the world economy and will continue to do so in the future.

In China, the swiftly changing demographics, the rising incomes and the increase of consumerism has led to an attractively open business environment which many Western companies are increasingly becoming aware of. The Chinese market is one to keep an eye on. China is the second-largest world economy and has an unmatched growth in its gross domestic product. China is a major aspect of global value due to its role as a manufacturing hub and a centre of innovative research and development.

The failures that many companies have encountered in moving into the Chinese market are due to their approach of attacking the already well-established and highly-competitive markets, rather than the emerging niche markets. Chinese consumers are now becoming one of the most profitable niche markets. Due to the rise of the ‘nouveau-riche’ consumer, created by the rapid economic growth, consumer preferences have evolved from basic needs to a more sophisticated desire of luxury goods. Niche markets have exploded to cater for this new consumer with the growth of luxury health products, grooming schools, plastic surgery and luxury fashion goods.

Talk to us so we can CONNECT you to the best contacts in China.

This is why New Zealand and Australian firms should develop a good China strategy for both onshore and offshore Chinese markets if they hope to be greeted with success rather than failure. The most profitable opportunities in the Chinese market are those in niche markets, such as tourism and beauty. The advantages that New Zealand and Australia have is in their already renowned strength in the pull of tourism to their green lands, and in their high quality natural and organic products. These are examples of a niche market approach that firms should consider rather than the less inviting basic consumer market.

Are your Products or Services Chinese Ready?

As outlined above, it is essential for any business hoping to enter the Chinese market to have researched, developed and created a presence before their official entry. The Chinese market is unlike that of the Western world and a cunning and tailored approach is a necessity if your business hopes to succeed.

Research is essential to understand what aspects of the market are booming and open to new businesses and which ones are not. Prestige Consulting has the knowledge to aid you with your research in gauging the market approach that has the highest chance of success. The niche markets mentioned above are an example of a market approach that has an increased likelihood of success as it is a more recent aspect of the market. Advice such as this is what the team can offer you to help your business develop a tailored market attack strategy.

Creating a presence in China is also a vital step towards success in the market, and should not be done later in the process. In a market so unique in terms of traditions and customs as the Chinese market, particular methods have to be put in place to suit the specific market. Our team helps businesses with the process of devising a strategy to create a market presence from the outset go. Any new business should be immersing itself with already established businesses, potential partners and firms, on both a professional and personal level. The Chinese put great value on loyalty and trust, and building a personal bond, through dinners or meetings is intrinsically beneficial for your business.

Prestige Consulting have an understanding of the unique nuances of the Chinese market to provide you with the research and knowledge required. We help businesses develop specific approaches to create the presence and profit that they are seeking in the Chinese market.

Connect with the Right People in China

Doing the Due-Diligence and arranging your China Strategy entry point by yourself can often be quite a strenuous task, especially with the language barrier and the difficulties magnified by cross-cultural aspects involved in understanding meeting etiquette and protocol.

Our team has extensive experience in dealing with cross-cultural issues, as we are from culturally diverse backgrounds ourselves and so we help to develop your “Global Mindset” through building your awareness of the Chinese culture, language, people and business. We will show you what impact the rapidly growing middle class and super wealthy Chinese are having on the Asia Pacific economies. By engaging your own “prestige advocate” you will be well equipped to conduct your entry into business dealings in China, and we will hold your hand to guide you on your way.

Cultural factors can have a significant influence on projects, and it is essential that businesses are aware of this. Prestige Consulting are here to make sure that you are very professional in your dealing with cultural issues that are involved in your project, and that you are in a good position to manage them.

Many projects that are based in another country, or in another culture, should have safeguards or response plans put into place. Projects are often met with failure rather than success, and it is imperative that contingency plans are set to adjust to any alterations required. Our team are well equipped to help you strategise and put plans into place to ensure that your cross-cultural project management will run smoothly.

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