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Cultural Analysis of China, Research Paper Example

Pages: 1

Words: 344

Research Paper

Forward is specifically targeting China’s middle class and one of the entry modes being considered by the company is joint venture, thus, it is important to understand Chinese consumers’ habits as well as local business culture. Probably, the most encouraging trend for Forward is that Chinese consumers are embracing internet shopping in large numbers. An online survey by MasterCard found that 82 percent of the respondents admitted to online shopping which accounted for 30 percent of their total shopping expenditure. Popular items included books and arts, home appliances, and electronic products, and ladies clothing and accessories (MasterCard, May 7, 2007). Another survey found that Chinese customers put a high emphasis on accurate delivery date (Patricica Weber Consulting). Similarly, China is also a leading Asian economy in terms of users’ propensity to conduct online shopping on smartphone (MasterCard, 2013). These consumer shopping trends present Forward an ideal opportunity to enter Chinese market and build a leading market share.

Unlike the U.S., Chinese do not get straight to business but prefer to know potential business partners on personal level though religion and politics should be avoided. Chinese also expect appreciation of their culture and traditions from foreigners. Thus, joint venture is an advantageous strategy in China because international company benefits from the local knowledge of Chinese partner. An international company like Forward should also find a business partner in China (Wang, 2010) that has strong network of contacts. Chinese also put a premium on punctuality, thus, it is important to be on time. In addition, hierarchy is an important aspect of Chinese culture, thus, attention should be given to ranks and professional designations (Communicaid).

References

Communicaid. (n.d.). Doing Business in China. Retrieved July 7, 2013, from http://www.communicaid.com/access/pdf/library/culture/doing-business-in/Doing%20Business%20in%20China.pdf

MasterCard. (2013, March 20). Smartphone Shopping Trend Sweeps Asia/Pacific Region: MasterCard Online Shopping Survey. Retrieved July 7, 2013, from http://newsroom.mastercard.com/press-releases/smartphone-shopping-trend-sweeps-asiapacific-region-mastercard-online-shopping-survey/

MasterCard. (May 7, 2007). MasterCard Wordwide Online Shopping Habits Survey. Retrieved from http://www.mastercard.com/hk/wce/PDF/26006_0507-Market_Findings_E_FINAL.pdf

Patricica Weber Consulting. (n.d.). Online shopping habits vary across countries. Retrieved July 7, 2013, from http://www.patriciaweberconsulting.com/online-payment-processing-blog/uncategorized/online-shopping-habits-vary-across-countries/

Wang, B. (2010, August 19). Understanding China – Chinese Business Culture. Retrieved July 7, 2013, from http://www.understandingchina.eu/Chinaideascommunity/LatestresearchonChina/tabid/887/PostID/1734/Default.aspx

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