China: business opportunity
ESEUNE Business School Weekly Articles
A good time for Mediterranean Food
Sandra Ibáñez Ibarlucea
Sandra Ibáñez Ibarlucea graduated from Deusto Business School in 2013, where she studied a Bachelor degree in Business Administration with a Marketing specialization. She also graduated from Carlos III University in 2014 where she studied a Master degree in Management of the Film Industry.
Sandra has worked for almost a year in Exercycle S.L. one of the biggest fitness companies in Spain; and approximately two years in the Spanish Film Industry, in charge of private investment on audiovisual production.
Currently she is attending a Global MBA in China from ESEUNE Business School (Spain).
With one third of population of the world, entering in China could become the business of your life. China is one of the biggest and unexplored markets on the world. Despite the huge potential, the extreme disparity between Chinese culture and the rest of the world has created a wall that separate China from it.
The last year’s Chinese people have shown interest in healthy and safe food, and they are starting to concern about healthy life. Of course, few scandals contributed to create this tendency like the one of Chinese milk powder contaminated in 2008. This could be the moment to enter in China and companies must investigate the opportunity.
The Mediterranean Diet is a way of eating based on the traditional foods (and drinks) of the countries surrounding the Mediterranean Sea, it is a way of life more than a diet. Could a company take advantage of this? Could this way of life be exported to China?
Companies all over the world can export their products in China, but they must have in consideration a few things:
The row materials could be the same ones, but the product must change.
Even if you are so proud of your culture and your product, you need to think locally instead of globally.
You need to know and understand the market.
Answering the previous questions, the response is ABSOLUTELY YES!
The product has to be adapted to China, it must have Chinese Face.
Another point to have in mind is China´s culture; it is more related with consumption than in any other thing. Their traditions are the base of their lives and the way in which the expend their money. Having this in mind, the product must be in accordance with Chinese principles.
In our case, Mediterranean food could be adapted as much as other products. The question then must be; how can I introduce my product in their diet?
To sum up, China is a huge market with huge opportunities, but because of their culture, all the products must have Chinese Face. Few point to have in account:
Your product must EXIST in Chinese mind
The product may PERSUADE the client to buy it.