Tag Archives: Entry

Market Analysis

China Market Entry Strategies – Bypassing 1st Tier Cities

The first decade of reform and opening up in China saw large multi-national companies pave the way with big investments in all aspects relevant to their industries. Famous quotes such as “the risk not to be in China is bigger than the risk to be in China” from Heinrich von Pierer, the CEO of the Siemens AG from 1995 to 2005, were typical of a time when large capital investments were deemed necessary to enter the Chinese market.

As average wages have increased and consumers possess more disposable income and are willing to spend their hard-earned wages on modern products, more small and medium sized companies from around the world have entered the Chinese market importing products ranging from French cosmetics to German paint, from Ukrainian Vodka to Malaysian fruit juice.

As recently as a decade ago, entering the Chinese market was synonymous with entering the Beijing, Shanghai, or possibly the Guangzhou markets. It meant understanding the potential of a few select regional markets, as only those markets were believed to be profitable. The result has been a massive increase in marketplace competition coupled with the increased sophistication of 1st tier city consumers. New advertising campaigns continue to attract legions of curious consumers and their willingness to try new products is high; however, brand and product loyalty for many product categories continues to remain low.

Market Entry Strategy in China

The breakneck speed of the development of consumer markets in 1st tier cities such as Beijing, Shanghai and Guangzhou has led to a dynamic saturation of these markets by a constantly changing abundance of similarly-perceived products coming from around the globe. The term “dynamic market saturation” has been used to describe the high turnover of products entering the 1st tier city markets, all chasing after the same consumers although the size of the market in terms of the number of consumers remains fairly stable.

The vastness of China and the sheer size of the population mean that opportunities still abound for companies interested in entering this market. However, regardless of the product category, a passive market entrance that relies on the sheer number of potential consumers in China to flock to any and all products is no longer enough. A strategic decision-making methodology is now essential for determining whether or not to take the plunge in China.

Research in 2nd Tier Cities

Bypassing the highly competitive 1st tier markets is a viable option for many companies and can offer numerous rewards; in fact, it should be seriously considered. A recently concluded market research study carried out by Labbrand focused on understanding the feasibility of a new vodka brand to enter the Chinese market by bypassing the 1st tier markets, and identifying areas of consumption which go beyond the competitive battlefields of the nightlife and entertainment venues of the 2nd tier markets. In short, the objective of the study was to understand which vodka products from the client’s portfolio are suitable for whom, and where they are most likely to be consumed.

The scope of the study included a semiotic analysis of baijiu (1.) codes, video ethnography, and qualitative consumer focus groups with regular drinkers of baijiu and other alcohol in Chengdu, Shenyang and Wuhan. The focus groups were organized in restaurants together with a meal in order to allow for a thorough product tasting. The following key points were addressed in the consumer market research:

* General understanding of spirits and consumption habits,

* Consumption occasions (specifically for hotels, restaurants and cafes),

* Vodka category understanding,

* Brand name test,

* Taste test ,

* Packaging design test.

The project was completed with a brand positioning and strategy workshop to develop a compatible positioning of the brand for China.

Semiotic Analysis

The semiotics phase consisted of identifying the positioning of different Baijiu brands, the main codes used in communication and an analysis of various bottle styles currently found in the market place. The semiotic analysis identified the key axis for positioning in China. For Baijiu brands, codes used in communication were positioned along an axis ranging from power and achievement to universalism, tradition and heritage to hedonism and stimulation. The bottle designs were classified from power and status to universalism, from classical to modern, as can be seen in the diagrams below.

Data Collection and Recommendations

The focus groups revealed that in comparison to their 1st tier city counterparts, knowledge of foreign alcohol was limited among small city consumers. Foreign alcohol types were not differentiated, for example many participants did not know the difference between vodka and wine. Perceptions regarding drinking occasions and behaviors also varied. Within Chinese liquors, consumers would often buy the most expensive baijiu to have a drink with their boss, but purchase an inexpensive liquor to enjoy with their friends. With regards to foreign alcohol, beer was considered to be a casual drink that could be enjoyed with friends over dinner, whereas wine, specifically red wine, was considered more sophisticated and romantic. Foreign hard alcohols were associated with clubbing and being cool and trendy.

The idea of having a glass of whisky for enjoyment was not present among respondents. Purchases of foreign alcohol were based mostly on promotion and availability, while the reasons given focused on wanting to be trendy or garner the admiration of peers.

Information from the video ethnography and consumer focus groups also helped refine the client’s understanding of the target consumer and how they can best be engaged. Further recommendations included key areas identified as requiring improvement, namely the product name and packaging. The semiotic analysis also offered clear findings regarding dominant and emerging packaging and bottle codes.

Labbrand also made several comparisons and recommendations regarding potential distribution channels of interest for or client. By focusing on consumption occasions and locations, new restaurant types currently not considered a priority by major foreign brands were identified as potentially viable for introduction of the clients Vodka brand. For example, a vodka brand could develop a partnership with a Western-style restaurant positioned mid-market managed by a Chinese single proprietor. Premium alcohol brands are unlikely to target this type of outlet, yet a lot of consumers could be reached through this restaurant channel.

Conclusion

There is a vast amount of information available regarding Chinese consumers; however, most of these studies often forget to mention that their research was limited to a few 1st tier cities and possibly some quantitative statistics provided by the statistics bureau of China. A major learning for our client was that their understanding of the Chinese market and the results from the research were unique and required them to re-evaluate their market entry strategy. 1st tier and 2nd tier consumers are very different. Product understanding, market exposure, needs and expectations will be different in different product categories. Only through a well-formulated brand strategy based on comprehensive market understanding can brands, large or small, domestic or foreign, hope to build brand equity to succeed in the long run in China.

(1.) Baijiu (c��e�’; pinyin: báijiC”), is a Chinese distilled alcoholic beverage. The name literally means “white liquor”

General Business

Data Analysis And Entry

Data analysis and entry is an exceptionally important area of expertise that helps boost the performance competence and increase your productivity. Whether data analyzing or large-scale data capture, claims processing or any other business process outsourcing services, most time sensitive and data centric projects can be handled by Data Analysis and Entry by specialist units.

Analysis of data is a process of inspecting, cleaning, transforming, and modeling target data with the goal of emphasizing useful information, suggesting conclusions, and supporting decision making. Data analysis has multiple angles and applications, covering diverse techniques under a variety of names, in different businesses, science, and social science domains.

When the domain from which the data is harvested is a science or an engineering field, the more specialized term data analysis is typically used. This is a focus on the highly specialized and highly accurate algorithmic derivations and statistical calculations that are less often observed in the typical general business environment. In these contexts data analysis packages like DAP, gretl or PSPP are often used. This divergence of culture is exhibited in the typical numerical representations used in data processing versus numerical; data processing’s measurements are typically represented by integers or by fixed point or binary-coded decimal representations of numbers whereas the majority of data analysis’ measurements are often represented by floating point representation of rational numbers.

The process of data analysis can be divided into:

* Data cleaning
* Initial data analysis
* Main data analysis
* Final data analysis

Data entry is the act of transcribing some form of data into another form, usually a computer program. Forms of data that people might transcribe include handwritten documents, information off spreadsheets from another computer program, sequences of numbers, letters and symbols that build a program, or simple data like names and addresses. Some people perform jobs that are exclusively data entry and back office services, while others, like programmers, might have to occasionally enter data.

Data entry requires focus and concentration, and some find the work exhausting and even challenging to the body. For any person who types all day, paying attention to maintaining good posture, typing in an ergonomically sound position, and taking breaks for the eyes and hands are all important.

With a number of information systems requiring a constant stream of data, data entry doesn’t necessarily have to take place in an office or workplace. Many people work out of their homes entering data, transcribing medical information, or updating websites – especially websites that offer merchandise.

Market Analysis

Need for eCommerce Data Entry Outsourcing: Online Store Product Data Entry

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E-Commerce data entry outsourcing is an omnipresent business, which is the lifeline of any online shopping store.  Without any readily usable data, it is simply impossible to go for rich profit gains by any small or big organization. A resourceful and updated data gives all the background support for keeping the business in line. Data entry working as a virtual ecommerce solution source has plenty to offer. It is here the future growth dynamics of the company lies.

The innovations in the image and textual data software in recent times have further provided a big push to the entire E-Commerce data entry outsourcing an obvious choice to cash its benefits and simply bring the benefits to blend perfectly with the routine ongoing processes moving in a company structure.

E-Commerce data entry outsourcing is simply the outsourcing of data entry job to third party for getting the job done in a fast and an affordable manner. It is the ideal way to get your major data converted into digital format that can be used for easy peruse by your clients. By outsourcing the data entry work to third party, the company ensures high level of productivity in their core area of operation and this brings extremely high level of efficiency.

The range of data entry outsourcing encompasses, image processing, OCR Scanning, product data entry, catalog processing, coupons data entry, graphics editing, SEO, data indexing, data capturing and much more. The E-Commerce data entry outsourcing is a potent medium to offer a thoroughly streamlined manner of doing business in smart way to companies and businesses across the world. Besides, the most prominent features of such outsourcing largely includes, providing high accuracy, high data security, next generation technology features, flexibility, checking for duplication and efficient validation procedures.

Furthermore, the power of E-Commerce data entry outsourcing goes beyond the level of simply data entry. With numerous image-processing companies making big profits, outsourcing serves as the only way to give complete image solutions with the best turn around efficiency. The data entry and allied outsourcing gives the data entry companies a huge business potential and never ending source of revenue.

Apart from the usual benefits stored in E-Commerce data entry outsourcing, the company lending outsourcing services to other data entry companies, gets back the accurate and synchronized normal as well as image editing documents, lined up in synchronous manner. These documents are largely from the banking, finance, Insurance, information technology and other bigwig sectors. The popular examples include, credit applications, MediClaim reports, Rebate Claims, census records, finance reports and much more.

With E-Commerce data entry outsourcing growing a big way, Cignus Web is a premier company offering custom solutions to clients looking at outsourcing this.  There is abound business opportunities to flow in the market. The international standards maintained by the outsourcing companies give upfront solution to data entry, data mining and other effective data solutions. The maintenance of international standards comes by checking and rechecking of the data converted in the digitized format. This kind of accuracy and above all fast speed of the data entry operators, together bring a great realization of business and organizational processes to work in tandem with each other.

Market Analysis

Benefits of data entry outsourcing to India based BPO Company

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Data the backbone of a company and it provides comprehensive source for multiplying the business by leaps and bounds, transcending the continents and cultures. Benefits of data entry outsourcing are many and the expandable outsourcing methodologies provide ample of virtues in money and processes. Data entry as a generalized term includes important virtual services such as data conversion, data mining, image processing, image editing, web data entry, data extraction, offshore data processing, alpha numeric data entry, book data entry, data entry, tabulation, photo cropping, OCR scanning and cleaning, legal data entry, scientific data entry, etc. All these serve as a stronghold to get the processes of any organization streamlined without spending much of time and resources.

When taking the benefits of data entry outsourcing into account, it is equally necessary for the organization to calculate the need of data entry services and many other important allied resources that virtually go along with it. In addition, it is also necessary to know the format in which the final version of data is to be used, because at the end the most important aspect is, ready availability and user-friendliness. And it is an obvious thing to go for data that is available for use in a cross platform environment.

Benefits of data entry outsourcing: Synchronizing the Virtual Processes

There are numerous benefits of data entry outsourcing. In today’s knowledge driven world, data entry services offer sigh of relief to KPOs and LPOs who have major thrust on varied knowledge sectors and therefore cannot afford much of their resources or time in data entry and allied services.

•    Complete Data Management: When outsourcing the data entry needs to third party, the companies get the natural benefit of having managed and synchronized data on their desktops for the perusal. This ensures the companies to save largely on time factor. What’s the best is that some of the managed data can also be used for repository purposes.
•    Time Saving and High Efficiency: Time is critical in the competitive and technology based work environments. Everything in or out of organization is primarily done to get maximum possible benefits in minimum possible time. Therefore, as one of the important benefits of data entry outsourcing is that it minimizes time spending and this consequently leads to high efficiency in the business processes.
•    High Quality Data: The ultimate purpose of outsourcing the data entry is to get quality as well as quantity work. Quality cannot be compromised in the era of globalization. Moreover, quantity also needs to be delivered at all times. Any leeway that comes across in data entry work is removed and this gives the beneficial overhead when the companies tie up for outsourcing data entry.
•    Affordable: The biggest benefits of data entry outsourcing are reduced costing and maximized earnings. The companies get the bulk work done at affordable costs and with ready-to-use data, the companies can invest it on their core activities and functional processes, without wasting any time.

With all these benefits into play, data entry outsourcing is the blooming market with all its potential and expandability.  Cignus Web is a key player with vast experience in all type of data entry works offer large range of data entry services. The services that they provide here will surely help you boost your productivity and reduce your burden by outsourcing most important and time consuming operations data entry, data digitization and offshore data entry jobs.