Li Yong, Deputy Secretary General, China Association of International Trade
China is a country with unique socio-economic features. A sound business strategy will have to be based on careful market research, which will analyse the unique features of the marketplace and generate information for decision-making. There have been instances when foreign investors have failed to conduct effective market research after their entry into China; even worse , some companies do not appreciate the value of market research and simply believe that they have good products and so people in China will buy them. This has invariably varying degrees of failure.
When a company is established in China, continuing research efforts should be made in order to monitor the performance/position of the company in the changing marketplace against its competitors , changes in consumer/customer preferences and changes in market conditions likely to affect its sales volume or profitability.