Ⅱ Presentation Topics
Business Premises
WHAT IS IMPORTANT WHEN…?
RELOCATION A BUSINESS
l LOCAL WORKFORCE AVAILABLE
l LOCATION OF SITE
WHAT IS IMPORTANT WHEN…?
CHOOSING RETAIL PREMISES TO RENT
l LOCATION
l LENGTH OF CONTRACT
Key points: location of the premises; local workforce; rent a premises
Local workforce:
- Might technology support and skilful workforce are the two crucial elements leading a modern enterprises to success. So when locating a business, the management people in the business got to consider local workforce.
- Skilful workers are just like the hands of a business, they are the direct creators of company’s profits.
- The diversity of the workforce’s skills will diversify the quality of the products. (Swiss watch, Volkswagen cars)
- Skilful workforce is particularly important to hi-tech oriented companies. The hi-tech products require the company to maintain a strong research and development team, which are normally the more valuable assets of the company.
- When locating a business, the managers need to consider whether the local workforce is capable of producing such a strong R&D team.
- Moreover, cheap local force will certainly reduce the production costs. (Consider why many foreign companies choose China as their manufacturing base)
Location of the business site:
Consider the following issues:
- Whether it is convenient and easy for raw material supply and transporting out the products.
- Whether it is easy to get access to the electricity, water, gas and other supporting energy supplies.
- Whether it is convenient for most of staff to go to work
- The property price there
- Environmental issues
- Planning permission
- Tax liabilities
The length of the contract:
a. Longer contract would cover issues in more details. The contract should cover certain matter, which are likely to incur, such as assignment, service charges, and rent review clause.
Marketing
WHAT IS IMPORTANT WHEN…?
AIMING TO REACH NEW MARKETS
l MARKET RESEARCH
l ADVERTISING
WHAT IS IMPORTANT WHEN…?
ADVERTISING A NEW PRODUCT
l TARGET MARKETS
l CHOICE OF MEDIA
Market research:
- Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or user.
- Marketing research is always the first step before the company gets into the market.
- The fundamental goal of marketing is the satisfaction of consumer needs. No organization can survive for long without meeting consumer needs. People will simply not purchase a product or service that they do not need.
- Thus, any organization, if it is to be successful, must proceed from the goal of customer satisfaction and adjust its programs to deliver an offering meeting consumers’ needs.
- E.g. foreign medium and high range car manufacturers did not attempt to enter into the Chinese market until recent years, because following market researches, they discovered that Chinese consumers, in general, could not afford to buy and maintain expensive cars. …
- E.g. Pizza, Pasta…
- Talking about Market Research
² The company has done a lot of market research for the product.
² Can you tell me how a company starts selling a new product?
² Do you often carry out/conduct market research?
² What’s objective of market research?
² One of the purpose of market research is to find out whether there’s a market for the product.
² We did a detailed market analysis.
² Market research is actually an analysis of a specific market for a particular product.
² We have to run the market test for two months.
² We have a wide product range.
² The stock market is uncertain at the moment because interest rates are falling.
Advertising:
- Advertising is the most useful way to propagandize a company’s products and make them known to the public. Advertising is also the way to get the products orientated. (E.g. whether the products are for female/male market, high earning people or low earning people. Sports shoes… perfume)
- When advertising a new product, it is essential to consider the target markets. Consumers’ needs in the target market.
- Choice of media: see Advertising Strategies.
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