Market Analysis Wgu Ega

1253 words - 6 pages

Company A’s product is engine components for engines of heavy duty trucks. Company A has decided to expand operations to an Eastern Asian company. Countries considered were China, Japan and South Korea. After careful consideration and research, the recommendation is expansion into China. The reason for this is two-fold. The first consideration is market saturation and maturity. The Chinese market is relatively young and undeveloped when compared to Japan and South Korea. There are fewer established manufacturers or distributors in China versus the power house brand names in Japan and South Korea, such as Nissan or Hyundai. Secondly, the market is robust, the economy in China is growing and ...view middle of the document...

Company A can also sell its parts direct to truck manufacturers who assemble their own truck engines. Company A will attempt to build business with both types of customers, seeking joint ventures with manufacturers of trucks as well as distribution deals with engine manufacturers.
Company A marketing plan will be impacted by several cross-cultural issues. Business deals for Americans in China don't have a chance without the zhongjian ren, the intermediary. In the United States, we tend to trust others until or unless we're given reason not to. In China, suspicion and distrust characterize all meetings with strangers. Chinese businesses place a good deal of emphasis on relationships. The Chinese enter into business transactions only if they build a relationship. In China relationship building and entering transactions through personal contacts is important. Therefore it will be vitally important that Company A hire an intermediary who is influential and respected in local business circle and is fluent in Chinese. This person must also possess the local business connections to expedite the formation of the critical relationships that will be required to eventually secure orders. In addition, contracts are not given a great deal of importance in China but personal trust is given importance as the bases on which to do business. It may take a long time before Company A will be able to secure first orders, but once the relationship is built and trust is established, repeat orders may be placed quickly.
In addition, Company A must consider the importance of status and esteem in Chinese culture. The Chinese place a good deal of emphasis on face, or good reputation. They will not typically enter into a business relationship with companies who do not have a good reputation. Company A will have to put forth a marketing plan that places emphasis on the Companies solid reputation. Even more essential is the fact that the hierarchy should be accepted and acknowledged (Collins. R, & Block, C, 2007). Hierarchy is based on family and business status as well as age and experience. The hierarchy must be considered and respect must be shown to business people based on this hierarchy.
Once contacts are established, the sales persons of Company A should focus on continuing to develop trust rather than depending on written contracts. The sales force of Company A should be recruited locally so that the local sales persons will clearly understand the business needs of potential customers. Company A and its sales persons should always maintain dignity, respect the hierarchy of the Chinese, and be prepared to deal with the potential buyers, investing the time and commitments necessary to build long term relationships that are important to the Chinese.
Cross cultural communications affects marketing strategies in China in several ways. First, the...

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