Capturing a market - product development Essay Example | Topics and Well Written Essays - 3750 words

Capturing a market - product development - Essay Example There has been news about inferior quality of Chinese products, harmful Chinese products, china's conflict with Tibet, contaminated liquor, etc. In its aspiration to be a global marketer, china needs to strategise its move so that it appears as the strongest contender across the globe. It needs to establish a positive and congenial brand equity with conscious efforts to undo the tarnished image. China as a brand is very popular with the world. There is no dearth of FDI in the country. Even amidst economic crises, China expects a drop of only 10% as far as FDI is concerned. Thus there is immense brand awareness and china is viewed as a market with huge potential. Thus the attitude of the customer is positive. China now needs to create brand knowledge and a positive perception of ethics and behaviour. China is known to be a conservative society and it maintains a particular code of conduct with regards to business practices. It offers talent as far as skilled workers is concerned, cheap labour for production, raw material at competitive prices and great entrepreneurs. They are a closely bound society and Chinese expatriates take care of development in the country, the Chinese talent is spread across the world and occupy high levels in organisations. A. Designing marketing strategy: A well designed and precise marketing strategy will generate brand awareness and brand associations, thereby effecting consumer knowledge in a positive manner. A. Showcasing China: Participate in expositions and showcase china as a tourist destination, industrial destination, HR destination, investment destination, etc. Alongside convince about the ethical practices and the approaches Chinese adopt in various situations. Any negative news should be countered through creative ways. B. Establishing China as a quality producer- Reposition: China faces the brunt of the buyers on the grounds that the product though cheap does not last long and is beyond repair most of the time. It's about time this perception is changed. Technological advancement should be followed and quality products should be manufactured and exported to the global markets. In doing this of course the price competitiveness will have to be maintained. C. Investments in R & D: Research and development initiatives will alter china's image as a market that imitates and makes the products at a cheaper cost. It should design and manufactures some trade marked products so that there is a change in the perception. D. Public Relations: To rebut a few charges against few industries for instance baby food industry, china should indulge in heavy P R exercise stating facts and coming up with clarifications. Through P R it should also initiate write ups and articles in other countries stating strengths of brand china, its new initiatives, new products, etc. E. Communication strategy: A communication strategy should be adopted each year with specified agenda which gives guidelines to all the involved personnel on what