Entry into Chinese and Indian Retail Markets Essay

Entry into Chinese and Indian Retail Markets - Essay Example International market situations happen to be multi level in their decision focus, with a hierarchy of decisions from country assessment and performance measurement decisions through to more traditional marketing mix allocations and programs.International market situations happen to be multi level in their decision focus, with a hierarchy of decisions from country assessment and performance measurement decisions through to more traditional marketing mix allocations and programs.For the purpose of this study, entry into Chinese and Indian retail markets is to be considered. In general for a superstore/ retail chain like Tesco, Asda, Walmart, Trust-Mart, Reliance etc. the marketing mix comprises;†¢ Product – this includes the quality levels, production costs, the packaging, the range of products and the product differentiation.  Ã¢â‚¬ ¢ Price – this includes appropriate pricing for the target markets, quality considerations depending upon the pricing and an attackin g pricing or a defensive pricing  Ã¢â‚¬ ¢ Place – depending upon the location of a superstore it is also called a convenience store, therefore the location is very important to reach to the targeted segments.  Ã¢â‚¬ ¢ Promotion – we are today living in a media-savvy world. The power of being seen in print or TV or being heard on the radio can make or break a brand. Integrating the promotion publicity campaign with the marketing mix is very crucial.†¢ People – interface between the retail store and the customers are the people manning the counters and providing technical support and after-sales services. Therefore a friendly, uniformed, well informed and well-behaved person at the counter can help in gaining widening the customer base. HR friendly policies help in attracting and retaining good human resources. Processes - how the retail store manages its front office, back office, system support, online services etc. will definitely help it in earning a good reputation amongst the customers. Physicals - this includes the premises, support vehicles, uniforms and the looks of corporate signature. Service - last, but certainly not the least, is the services part. In fact the retailing business has become more of service oriented now a days. Were all the functions and techniques of using a particular gadget/ equipment told to the customer before the purchase, how the customer felt after buying a new TV set, did it malfunction, did he feel any difficulty in switching it on and tuning it - are some of the issues which can only be known if the retail store has a good mechanism of taking feedback from its customers. China: A leading Economy China is the most populous country in the world; with 1.30756 billion people1 by the end of 2005 it has a share of 22% of the world's total. China's entry into the WTO on December 11, 2001 has ensured regular inflows of FDI. With its gross domestic product (GDP) growing at an annual rate of