A successful product launch demands a lot of thoughts and strategies for the management. It requires a better understanding of the market in terms of both cultures and people’s consuming habits. The go global act locally has been on for a long time and many businesses consider it part of their product launch strategy. The trend of consuming fast food in China, is rapidly growing, and any company wishing to invest a long such line, must view the market in terms of cultural and socioeconomic backgrounds. The concept of go global act revolves around doing business while considering both the local and global considerations.
A company needs to assess the influence or the level of damage that its product is likely to cause to the environment in which they operate. This implies that they must use certain concepts that will make their products acceptable both locally and globally. Such must not contradict the country’s culture and socioeconomic trends (Backman & Charlotte 67). Introducing fast foods in China may not be a great deal, the most valuable thing is the approach that the company gives. Given that Chinese foods are because of diverse cuisines of china, there is a greater market survey to be done to know which foods are consumed more. The Chinese food culture is unique and requires an in-depth understanding of the market to launch and market the product successfully.
One of the modifications that need to be made for a successful product launch in china is to allow consumption of various foods. China is known for many food types and great diversity in the nature of foods consumed. The fast foods that a company intends to bring into the market must have little consequences and must be fully supported by the environment. The influence of these foods to culture must also not be adverse; rather, they should fully accommodate the Chinese culture.
In addition, the environmental hazards of the same must be under watch. Consumers in many countries like China are under constant watch over what they consume. Foods that they feel can have adverse effects on their health and lifestyles are normally avoided. A good company, therefore, before launching any product must study the market trend and know what consumers demand. Having done all these, the company can now embark on strategies that will make their market approach effective and efficient.
One of the strategies that the company needs to incorporate during its product launch is creating a better portfolio strategy (PGDC 14). Under this, the company sets out a few things; first, the market it wishes to operate in and the intended customers. In the case of this company, it is the Chinese fast foods, which mainly target the Chinese citizens. Another factor is the basis of competition in terms of value, style, and reliability among others. Having a good portfolio can help a company attain certain basic objectives upon its launch. For instance, it helps in ensuring balance in the market and utilizing all the available minimal resources in a good manner.
A good project management concept is necessary during product launch. Since the Chinese market is highly competitive, a company must try to keep up to the current marketing standards to achieve the best. Doing things in the correct manner can help a company have a stable market stand on the launch of its product. If the company considers these concepts, then there is a likelihood of it achieving considerable success in terms of market entry. In addition, it also facilitates a new product launch in the Chinese market, especially amidst the mixed and diverse cultural background.
Backman, Michael, and Charlotte, Butler. Big in Asia: 25 strategies for business success. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan, 2009. Print.
Practical guide to distribution in China (PGDC): how to launch product sales?. Hong Kong: Hong Kong Trade Development Council, 2010. Print.