At B2B International we always interested in the global markets. We are even more interested in the Market in China, not only as our new office is opening in the heart of Beijing in January 2006, but China is growing so rapidly that this provides opportunities for market research companies, especially the business of B2B research. The article below, taken from World Advertising Research Center, offers ways to succeed in China’s B2B market.
Helping The Clients Succeed In China’s B2B Market.
China – the fastest growing B2B market in the world
After China’s successful entry into WTO, the fast growing domestic economy and cheap labor force have made China the huge factory of the world. Additionally, the fast growth and opening up of industries in China, such as finance, insurance, logistics, automobile, telecom, and retail, together with the strengthening of commercial procurement of government institutions, will push China to become a huge industrial product and B2B market in the Asia Pacific region, and even in the world.
The challenges multinational companies face in China’s B2B market.
In recent years, mainland China has been an important region of foreign investment. Foreign enterprises enter into China market by all means. Today the tasks they face range from choice of investment opportunities to exploring marketing opportunities. Multinational companies need to make appropriate and in-time marketing strategies for the localization in China to occupy a leading position in the increasingly keen market competition.
Along with the marketization progress in China, state-owned enterprises and local enterprises are improving their competitiveness, which stimulate market competition. The competition faced by multinational companies in China comes not only from international competitors, but also from local enterprises.
As capital and technology are no longer the only factors to win, high quality service system, reasonable price performance ratio, and highly efficient sales network are becoming crucial factors. This trend forces multinational companies to adjust their marketing strategies in China in order to adapt to the keen market competition.
Problems to solve – trends of market information demands and problems in the B2B market in China for multinational companies
In order to develop a correct marketing strategy, multinational companies pay the most attention to the following information:
• Current market status and trends
• Market segmentation (industry segment, regional segment, product segment)
• Market share
• Main customer
• Major competitors
• Major sales channels
Helping multinational companies obtain valid information and data on china’s B2B market:
Comprehensive Information Integration
As a professional B2B research company, the solution of this research agency is to comprehensively integrate information of macro-economy, industry and enterprise, to meet clients’ demands on business information in China and solve their difficulties in information collection. That is, to provide clients with comprehensive, precise and valid business information for their reference in making proper decisions, which is obtained from collection and processing of governmental statistics, association information and other secondary information.
Opportunity ahead – multinational companies’ opportunities in China’s B2B market:
• 2008 Beijing Olympic Games
• Shanghai World Exhibition
• San Xia Power Project
• Delivery of gas from the west to the east
• Great development in the west
• High growth of domestic market in China
• Fast growth of industries of automobile, IT, finance and real estate
• Strengthening of investment on infrastructure
• Strengthening of government procurement