With a rising middle class, China certainly has the potential of becoming a top global market for consumer goods. However, many foreign businesses only find themselves exiting it soon after arrival.
1.Absence of unbiased Feasibility Study before plunging in
2.Lack of understanding of Local Market and Culture
3.Blanket implementation of Management and Marketing Practices from home without proper adaptation
4.No Mid and Long -term Strategy, just trying to make a fast buck
5.Failure to do as the Chinese do while in China…