Global Marketing

How to maintain business value under different culture?

 As the globalization goes on, some international businesses received different feedback from their customer in their foreign markets. Few businesses can exactly copy their original business model at their new market. Usually, they have to make changes or give explanations in the new market to fit in the local culture. In some cases, some businesses seemed pointless at their first entrance to a new foreign market. Or the process of fitting the new market takes a long time to complete.

A new idea of medicine

 Recently, many body therapies in the US started to use new methods to treat their patients. Like acupuncture, cupping jar and acupressure. These methods are all traditional Chinese medical treatments with hundreds of years history. Obviously, there is a new market started growing in the US for Traditional Chinese medicine. However, either people hoping to use these ancient methods to treat their conditions or just looking for some unique experience there had no standardization work has been done by Chinese medicine associations or American authorities, which means there is no protection for either business or customers if conflicts happen. Who is going to initiate the standardizing work for the industry and at what level, will eventually influence the future growth of the new medical solution?

A Hollywood movie’s trip to China

  According to public information, China will soon become the biggest movie market in the world. However, China is not the biggest movie producing country, and the place is Hollywood in the American. There is a strong motivation for Hollywood to stay in good connection with China. Unfortunately, China isn’t a pure paradise for Hollywood movies. There are strict culture censorship and high barrel for IP products to export to China. Almost all the Hollywood movie will be edited to a new version to be publicly played in China. Meanwhile, movie companies can’t use their American business model to guide the business in the market. Under the need to fix the gap and maximize their profit, American movie studios formed ventures with Chinese businesses. Either production companies or theater chain management, American movie studios ensured that their resources be fully utilized in the new market, and making their profit out of the market from all possible ways.

To sum up, culture is the guidelines how a foreign market will respond to a product from a different culture. There are social cultures, business cultures, and political cultures, etc. For a business to enter a foreign market, learn and respect the foreign culture should be the priority. Under the same culture agreement and recognition, business will have a chance to explore the new market in a fair way.