Date post: | 29-Nov-2014 |
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5 Lead Strategies For Competitive Intelligence In Asia Business
#1. WHAT IS COMPETITIVE INTELLIGENCE (CI)?
• Anything that gives you competitive advantage in the marketplace
• CI is important for customers and competitors
• But that’s not all…
• ANY aspect of the environment that supports strategic business decisions is CI
SO APART FROM CUSTOMERS AND
COMPETITORS HOW CAN CI HELP BUSINESS?
A SIMPLE EXAMPLE
• You’re launching a business in Ruritania
• What would affect your chances of success?
• What do you need to know about the market?
• What do you need to know about your customers?
BUSINESS IN RURITANIA
• You need to know how Ruritanians think
• What is their business mindset?
• What do they believe in?
• What do they do on the weekend etc?
FACTORS THAT WILL IMPACT YOUR SALES!
• Ruritanians are devout followers of Optimism
• They live in a mountain kingdom with no supermarkets
• They believe in the divine right of kings
• They strongly dislike ever saying no
• They sign contracts in invisible ink
THAT’S COMPETITIVE INTELLIGENCE!
#2. TRANSLATE THIS EXAMPLE TO ASIA
• Asia markets are all very different (if related)
• Cultures, traditions, levels of income, business customs are different
• Networks of relationships and values vary hugely
• Malaysia is not Indonesia, Hong Kong is not Singapore, Tokyo is not Seoul
SO HOW TO SUCCEED IN THESE MARKETS?
• What is the No.1 component of CI?
• No 1. is local knowledge!
• No.2 is local knowledge!
• No.3 is local knowledge! (and so on)
WHO ARE YOUR MAIN COMPETITORS IN ASIA?
• They are no longer global multinationals
• They are local and regional Asian players
• These players have THEIR OWN CI!
• So foreign companies without CI cannot compete
WHAT GIVES LOCAL PLAYERS SO MUCH EDGE?
• Local players have prolonged experience of the market
• They target their brands & products to local tastes
• They benefit from customer feedback
• They research each Asia market in depth
#3. HOW CAN YOU COMPETE?
• Find out everything possible about the market
• Find partners with access to medium-sized and smaller cities
• Find partners with insights into local consumers
• Immerse yourself in the customs, etiquette & culture of your target market (s)
YES: IMMERSE YOURSELF IN THE CUSTOMS,
ETIQUETTE AND CULTURE OF YOUR TARGET
MARKET(S)
#4. MORE REASONS TO FIND A PARTNER
• Privileged position when your Asia partner turns towards the West
• Building experience in thinking both globally AND locally
• Ability to help with inward investment into home markets
• PARTICIPATION in the world’s ‘glocalization’ process
WHAT DOES GLOCALIZATION MEAN?
• Ability to design & deliver global solutions
• Solutions that have TOTAL RELEVANCE to local markets
• The focused use of Competitive Intelligence
• Becoming a member of the Asia business family
#5. WHAT IS YOUR NEXT STEP?
APPLY FOR A FREE STRATEGY CONSULTATION
• Real actionable advice on CI for overseas markets
• Launch or develop your business SUCCESSFULLY in Asia
• 30 minutes’ Consultation via Skype or phone
• Apply direct at http://davidcliveprice.com/strategy
• Or e-mail [email protected]
Key to Asian Business SuccessWatch the Short Video in the Next Slide
For a Quick Summary
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