Question

To expand globally is an important part of growth for many companies and in order to grow my product on a global scale, particularly China, it will be important to focus on the economic, financial, political and cultural environment within China.  Particularly it is important to ensure the cultural will be acceptable of my product and I would begin to examine this aspect first along with ensuring I can meet the political and economic requirements.  If I find that the culture will not accept my product then it will be a necessity for me to evaluate trade barriers, political and environmental requirements.  China has the potential for products to be sold to a billion individuals and the product needs to appeal to the Chinese customers .  It is important to understand the customers and see what companies have been successful to help evaluate if the product will be successful.  To evaluate the product also includes any adaptation that may need to happen in order to meet the needs of the Chinese culture .  After ensuring the product will be an item desired in the China market then the focus on ensuring regulatory requirements will be the next step .  For example, as many customers in China are interested in technology, having an online presence is important.  China requires companies with an online presence to register in the free-trade area and also adopt a strict cybersecurity law that was adopted in 2016.  Developing relationships and contracts with Chinese partners is also important in order to be successful and these relationships can help ensure financial success and help with ensuring the product meets political and regulatory requirements.

Please respond to post in 100-150 words

Answer 1

If the products needs to expand especially in China, firstly it need to analyse the country's financial, economical and political background.Secondly the product also needs cultural acceptance as well. It must appeal Chinese customers. And how is the regulatory environment of the country is . Will product be able to sustain in the market is an important aspect of the case.

Example of the technology market is been given where chinese need online presence of the product.

To be successful in Chinese market it's equally important to develop contacts. It will help the products to grow more by meeting political and regulatory requirements.