Introduction
Expanding into foreign markets has been a typical strategy for many firms to attain growth and sustainability in today’s worldwide business climate (Kotabe & Helsen, 2022). It is important to carefully evaluate cultural differences and their business ramifications when entering a new market, especially one as complicated as China. This essay provides the opportunity to critically analyze the difficulties and possibilities of cross-cultural marketing. In particular, the study will look at cultural nuances and market entrance tactics for Glimmer’s entry into the Chinese market, with a particular emphasis on the possibly expanding markets for jewelry among men and kids.
Family and group bonds are highly emphasized in collectivist China (Scroope & Evason, 2017). This indicates that presents are frequently offered to improve these connections, particularly during major occasions like Chinese New Year. Chinese shoppers also prioritize the symbolic nature of gifts, with particular numbers, colors, and animals having particular connotations (Nations Online, 2022). Glimmer must therefore consider the cultural relevance of its offerings and guarantee that they are consistent with the values and beliefs of Chinese consumers. Traditional Chinese traditions require that men maintain a modest demeanor and refrain from wearing jewelry. However, there has been a growing trend among young men in recent years to embrace more expressive and unique trends, which includes jewelry wearing. By avoiding over-the-top bling and showy designs, Glimmer may capitalize on this trend by creating understated and elegant items.
Chinese customers are especially sensitive to safety issues regarding jewelry for children. Children’s safety is a top priority for parents, and they will avoid buying things that don’t adhere to safety regulations (The Associated Press, 2010). Therefore, Glimmer must ensure its products adhere to Chinese safety requirements and inform prospective buyers of this. The significance of relationships and interpersonal connections in China is another cultural factor that Glimmer has to consider. Guanxi, a network of interpersonal connections based on mutual trust and duties, is crucial to conducting business in China (Chi Z & Seock-Jin, 2017). Glimmer must establish and preserve solid relationships with regional partners, suppliers, and clients to successfully enter the Chinese market. Additionally, Glimmer, a web-based company, must consider how its website will function and be accessible in China, a country with strict rules and censorship. The business might need to collaborate with regional e-commerce sites like Tmall or JD.com to acquire access to Chinese consumers.
Market Entry Strategy
The target market’s cultural quirks and preferences must be carefully considered when entering a new market (Kilsgård et al., 2018). For Glimmer, entering China brings both chances and difficulties. Although China’s sizable population and expanding middle class make it a desirable market, the cultural variations in jewelry preferences and purchasing practices provide considerable difficulties. Therefore, Dominic and Dion Osei, the company’s founders, must pick a suitable market entry plan to effectively break into the Chinese market. Creating a strategic alliance or relationship with a reputable Chinese jewelry store would be the best market entry strategy for breaking into the Chinese market. To traverse the intricate and fiercely competitive Chinese market, Glimmer could take advantage of the partner’s local knowledge and experience. Additionally, it would aid in brand establishment and trust-building with Chinese consumers. Additionally, collaborating with a neighborhood retailer may give Glimmer access to established supply chains and distribution networks, which may help to save costs and boost productivity.
Another method of entering the market for Glimmer might be to open physical stores there. This can take the shape of independent stores or joint ventures with department stores or malls. This strategy would allow Chinese customers to see and touch the products while also helping the corporation increase brand recognition and trust in China. However, having a physical presence in China can be expensive and require considerable time and resource commitment. Finally, Glimmer might consider selling its goods in China online via well-known e-commerce sites like Alibaba’s Tmall or JD.com. With this strategy, the business could efficiently and swiftly reach a wide audience. The necessity to adhere to Chinese legislation and adjust to local consumer behavior and preferences are only two of the difficulties it presents.
Conclusion
In conclusion, entering overseas markets may be difficult but worthwhile for companies wanting to attain growth and sustainability. However, it necessitates careful study of cultural variations and their effects on commerce. Glimmer must consider cultural factors such as the significance of family ties, the symbolism of gifts, and safety concerns while entering the Chinese market. The best market entry plan for the company in China must also be cooperation with the locals. Glimmer may capitalize on the rising demand for jewelry among Chinese men and children by adopting the proper strategy and considering cultural variations.
References
Chi Z., & Seock-Jin H. (2017). Guanxi Culture. Just a moment… https://www.sciencedirect.com/topics/social-sciences/guanxi
Kilsgård D., Nero M., and Sundin E. (2018). Cultural differences when entering a new market. Simple search. https://www.diva-portal.org/smash/get/diva2:231290/FULLTEXT01.pdf
Kotabe, M. M., & Helsen, K. (2022). Global marketing management. John Wiley & Sons. https://books.google.com/books?hl=en&lr=&id=doCFEAAAQBAJ&oi=fnd&pg=PA19&dq=Expanding+into+foreign+markets+has+been+a+typical+strategy+for+many+firms+to+attain+growth+and+sustainability+in+today%27s+worldwide+business+climate&ots=rcNxSDRyFo&sig=VTGNyPafk9_b1uyS6B-2eG4ErV8
Nations Online. (2022). Animals’ Symbolism In Decoration, Decorative Arts, Chinese Beliefs, and Feng Shui. Cloudflare. https://www.nationsonline.org/oneworld/Chinese_Customs/animals_symbolism.htm
Scroope C. & Evason N. (2017). Chinese culture – Family. Cultural Atlas. https://culturalatlas.sbs.com.au/chinese-culture/chinese-culture-family
The Associated Press. (2010, January 14). Parents warned about Chinese-made jewelry. NBC News. https://www.nbcnews.com/health/health-news/parents-warned-about-chinese-made-jewelry-flna1c9441256
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