Assess: What changes are needed before you go global?
There are a multitude of things you need to consider before going global. Your product is one of them.
What differentiates your product in your domestic marketplace? Will that difference be sufficient to win share in Japan?
If your main differentiator is price, know that in Japan a low price can be both a plus and a minus.
Even though their price was more expensive, one client was able to capture a sizable share of the Japanese market with their component precisely because it was better made and resulted in a better end product. Japanese buyers love low pricing, but they won’t sacrifice quality for price.
Another client didn’t succeed in Japan until after they realized that what was an acceptable reject rate in the rest of the world isn’t acceptable in Japan at any price. After tightening inspection parameters they succeeded in reducing rejects. They weren’t able to raise the price of their product but they did eventually win a larger share of the customer’s business.
Contact us to learn more.