Planning to Expand Your Business into Japan? | Infiniti Research’s Latest Free Resource Reveals Key Insights for Market Entry
LONDON--(BUSINESS WIRE)--May 13, 2019--
A well-known market intelligence solutions provider, Infiniti Research, has announced the completion of their recent free downloadable resource on building harmony with Japanese customers: key insights for expanding your business into Japan. The supplement provides key insights into the reasons why western companies fail in the Japanese market and also reveals the guidelines for establishing your business in Japan.
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Guidelines for establishing your business in Japan. (Graphic: Business Wire)
Open-minded youth culture and curiosity for the west among Japanese customers is making Japan an ideal market for foreign brands. The country is highly lucrative for investors given the fact that it is a large and innovative powerhouse for global companies to grow and expand their business. However, winning over Japanese customer could prove to be a challenging task for foreign brands. The difficulty involves not only overcoming the language barrier, but also their cultural preferences and purchasing habits play critical roles.
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Guidelines for establishing your business in Japan
Several global players have leveraged Infiniti’s expertise in formulating market entry strategies to succeed in foreign markets. According to our industry experts, some of the key strategies for western companies to establish their business in Japan include:
Manipulate the context
In a group situation, it is important to be sensitive to the relationships between your Japanese associates. It is also essential to alter the circumstances and environment until you get the desired reaction from them.
Be smart in negotiations
Americans ask direct questions and expect direct answers when they are negotiating. The Japanese will typically give a vague reply or pause indefinitely. In such a situation, there are chances that you get rattled and give away too much.
Eliminate surprises before negotiation meetings
Parties to a negotiation must make the effort to resolve as many differences as possible in private so that they do not surface during negotiations. The Japanese are extremely uncomfortable with resolving major conflicts in the public context of a meeting and might never return to the table if they are taken by surprise in that manner.
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Use a third party
Having an independent mediator can help companies reduce substantive conflicts over time. This helps ensure that by the time the two parties are present for a meeting, only minor differences are left unresolved. So, companies must choose their third-party wisely.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us
View source version on businesswire.com:https://www.businesswire.com/news/home/20190513005520/en/
CONTACT: Infiniti Research
US: +1 844 778 0600
UK: +44 203 893 3400
KEYWORD: ASIA PACIFIC JAPAN
INDUSTRY KEYWORD: COMMUNICATIONS MARKETING
SOURCE: Infiniti Research
Copyright Business Wire 2019.
PUB: 05/13/2019 10:18 AM/DISC: 05/13/2019 10:18 AM