Selling New Products in China
The Chinese market could be an interesting avenue in which to sell your new product. If you spend time in China these days you will notice an interesting phenomena. Many Chinese consumers are now less interested in bargains and cheap products and are more interested in quality products, brand names and foreign products or simply something new. This is one of the reasons there is currently a huge opportunity to sell new products from America in China. Many Chinese consumers are willing to take the to time to find the product that exactly fits their needs or stimulates their interest.
Chinese online retailers have made it easy for companies from around the world to sell online to the Chinese market. This is an excellent vehicle in which to launch a new product in China. There are several online retailers in China. The largest is TMAL.com, which has over a 50% share of the online B2C market in China. JD.com is the second largest Chinese online retailer. Amazon has established Amazon.cn, an online retailer in China that is similar to Amazon.com. This Amazon website is totally in Chinese and is specifically for Chinese consumers.
Social media is extremely popular in China and is an excellent way to promote new products sold through Chinese online retailers. There are many similarities between the social media in China and that in the United States. There are, however, some differences. Chinese consumers don’t use Facebook, Twitter or YouTube but they have similar options. In China many people use Weixin/WeChat, a social media site that is similar to Facebook in the United States. As with Facebook, WeChat has ads that can be broadcasted to specific audiences. Sina Weibo is one of China’s very popular sites and is similar to Twitter in the United States. Videos are placed on Youku, which is similar to YouTube in the United States. Q-zone is one of the most popular social networking sites in China and has over 600 million users.
Consumer research is the best first step to determine if your new product fits the needs and interests of Chinese consumers. Today China has most of the same modern research facilities that we have in the United States and it is not difficult to get a reading on attitudes toward your new product. You will want to develop an understanding of how potential consumers in China feel about your new product concept, the quality of the actual product, the pricing and any other key elements of your marketing program. You are looking for the product’s ability to fulfill a need and fit into their lifestyle.
Good luck with your new product
Winslow Bud Johnson
Stamford Marketing Group, Inc.
Note: If you would like professional help in determining the likely success of your new product in China give me a call at 203-348-2356 or send me an email at firstname.lastname@example.org. The Stamford Marketing Group specializes in evaluating new product ideas. Over the past 40 years we have helped over 50 sophisticated companies throughout America, Canada, Europe and Asia predict the success of their new product introductions. .