5 lead strategies for competitive intelligence in asia business
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Visit http://www.davidcliveprice.com for a Free Strategy Consultation. Competing in Asia is not only about customers and competitors, it's about everything in the environment that impacts on your strategic decisions. That means local knowledge and competitive intelligence.TRANSCRIPT
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5 Lead Strategies For Competitive Intelligence In Asia Business
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#1. WHAT IS COMPETITIVE INTELLIGENCE (CI)?
• Anything that gives you competitive advantage in the marketplace
• CI is important for customers and competitors
• But that’s not all…
• ANY aspect of the environment that supports strategic business decisions is CI
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SO APART FROM CUSTOMERS AND
COMPETITORS HOW CAN CI HELP BUSINESS?
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A SIMPLE EXAMPLE
• You’re launching a business in Ruritania
• What would affect your chances of success?
• What do you need to know about the market?
• What do you need to know about your customers?
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BUSINESS IN RURITANIA
• You need to know how Ruritanians think
• What is their business mindset?
• What do they believe in?
• What do they do on the weekend etc?
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FACTORS THAT WILL IMPACT YOUR SALES!
• Ruritanians are devout followers of Optimism
• They live in a mountain kingdom with no supermarkets
• They believe in the divine right of kings
• They strongly dislike ever saying no
• They sign contracts in invisible ink
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THAT’S COMPETITIVE INTELLIGENCE!
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#2. TRANSLATE THIS EXAMPLE TO ASIA
• Asia markets are all very different (if related)
• Cultures, traditions, levels of income, business customs are different
• Networks of relationships and values vary hugely
• Malaysia is not Indonesia, Hong Kong is not Singapore, Tokyo is not Seoul
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SO HOW TO SUCCEED IN THESE MARKETS?
• What is the No.1 component of CI?
• No 1. is local knowledge!
• No.2 is local knowledge!
• No.3 is local knowledge! (and so on)
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WHO ARE YOUR MAIN COMPETITORS IN ASIA?
• They are no longer global multinationals
• They are local and regional Asian players
• These players have THEIR OWN CI!
• So foreign companies without CI cannot compete
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WHAT GIVES LOCAL PLAYERS SO MUCH EDGE?
• Local players have prolonged experience of the market
• They target their brands & products to local tastes
• They benefit from customer feedback
• They research each Asia market in depth
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#3. HOW CAN YOU COMPETE?
• Find out everything possible about the market
• Find partners with access to medium-sized and smaller cities
• Find partners with insights into local consumers
• Immerse yourself in the customs, etiquette & culture of your target market (s)
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YES: IMMERSE YOURSELF IN THE CUSTOMS,
ETIQUETTE AND CULTURE OF YOUR TARGET
MARKET(S)
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#4. MORE REASONS TO FIND A PARTNER
• Privileged position when your Asia partner turns towards the West
• Building experience in thinking both globally AND locally
• Ability to help with inward investment into home markets
• PARTICIPATION in the world’s ‘glocalization’ process
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WHAT DOES GLOCALIZATION MEAN?
• Ability to design & deliver global solutions
• Solutions that have TOTAL RELEVANCE to local markets
• The focused use of Competitive Intelligence
• Becoming a member of the Asia business family
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#5. WHAT IS YOUR NEXT STEP?
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APPLY FOR A FREE STRATEGY CONSULTATION
• Real actionable advice on CI for overseas markets
• Launch or develop your business SUCCESSFULLY in Asia
• 30 minutes’ Consultation via Skype or phone
• Apply direct at http://davidcliveprice.com/strategy
• Or e-mail [email protected]
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Key to Asian Business SuccessWatch the Short Video in the Next Slide
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