Saks Gloweli Business Tip – Understand Your Market

During landscape or market analysis when introducing a new product or entering a new market do  not forget to consider non traditional business factors that will effect your business. In China for the toy industry, the product need not have a very long user life because of the one child policy and because Chinese don’t pass down toys to relatives and friends as it is considered loss of face. Ford motor company when entering India had to be price sensitive to the local market and had to significantly bring down the price. Since rebuilding a model for a nascent market is an expensive proposition, they decided cut out features and luxury options to match the prices in their sector.  One of the decisions was to have only the front seats with automatic windows and manual in the rear seats.  This decision backfired when they learned that customers who could afford to buy a foreign brand like Ford could afford a driver and always sat in the back seat. Ford had delivered a luxury car that gave the chauffeur the automatic windows and the owner manual windows.

By Sid Mewara, Managing Director, Saks Gloweli Consulting Saks Gloweli Consulting is a management strategy consulting firm based out of Shenzhen and Hong Kong that helps clients grow their business www.saks-gloweli.com

7 Comments for “Saks Gloweli Business Tip – Understand Your Market”

  1. Sid,

    Even though I have a dozen companies, I still find your advice and insights useful. Regardless of how busy I am I always read them. I am assuming Aristotle doesn’t know anything about business or is a competitor of yours. It would be polite if he used his real identity.

  2. Aristotle, sounds like a wind up, thanks anyways trying to bring traffic :) this smells familiar :)

  3. The point of the internet and your comment section is the freedom to respond with an opinion. You have in fact opened yourself up to this. Perhaps you should consider improving your content as your format is good and potential quite high. Not expected when you instead focus your vitriol on the messenger.

  4. Which assumes that it is useless, which is not true. Again, if you don’t value the content, there are plenty of other articles out here. Sticking around here bashing something that many find valuable is simply trolling. Better yet, if you’re not happy with this and think you can improve it, you’re welcome to click the ‘Contribute’ button and submit your own.

  5. Yes, because not good or even useless free advice would be a waste of valuable advertising space.

  6. There is no such thing as too much good advice, especially when its free.

  7. More brilliance from the Sun Tzu of Business. Don’t know what I would have done without this sage advice.

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