A good marketing strategy is what makes the difference between a successful campaign and an unsuccessful one. But creating a good strategy is easier said than done. What steps should you take to help ensure your campaign is a good one?
1. Understanding The Market And Your Competitors.
Doing the necessary research before starting your campaign is vital. It is good to know what your company’s strengths and weaknesses are, as well as your competitors in the Japanese market. If you are only now entering the Japanese market and your competitor has already entered, you can look at their past campaigns. What did they do? Was it successful? How can we market ourselves differently so that we will stand out? In order to answer these questions you must first look at your own company. What are the strengths of your products? How does it differ from that of your competitors?
Being able to answer these questions will allow you to create a more effective campaign that highlights your strengths, and what makes your product better than the competition. The Japanese market will most likely vary greatly from that of your home country’s. Recognizing the cultural differences and creating a campaign just for the Japanese market will determine how successful you are.
2. Who Are You Marketing To?
Are you marketing to the general public, or are you targeting people who are specifically interested in your product? If you are new to the Japanese market, you will want to focus on the general market. Getting your name out to as many people as possible will be more beneficial to you instead of just a certain target audience. Creating a large customer-base is necessary for entering any new market. Associating your name with a product creates more trust from the public. People are more willing by name-brand products because of this.
“This product is famous, so it must be better than these other brands that I never heard of.” We have all thought this at least once in our life. Of course your product must be good, but other “off-brand” products are usually the same as the name-brand ones and cost less. Yet people will still rather buy the more expensive ones because that is the one they are most familiar with. By getting your name out to as many people as possible helps making your brand the name-brand product.
3. How Much Are You Selling For?
The big question that everyone will ask. Too much, and most people will not give your product a chance. Too little, and you may not make enough of a profit that is reasonable enough to continue to stay in Japan’s market. Watching the currency exchange rates for a couple of weeks will give you some idea of how much you could charge. But depending on the type of product you are selling there will be other costs that can change the amount you charge. For example, are you a restaurant that is expanding into Japan? If so, how are you going to get your ingredients? Are you going to only get your ingredients from farms across Japan? Or will you be importing from other neighboring countries? Other expenditures such as this will be important to take into consideration.
4. Will You Be Running A Special Promotion?
When there is an event, or even just for the holidays, it is given that a company will run a special promotion. Joining a new market is nearly impossible to do without any special promotions. Even if your product is priced similarly to the competition people will end up buying the products that have already been available since that is what they are used to. By making an offer that the customer’s are unable to resist, you will have effectively taken business from the competition, while drawing more attention to yourself. One thing to be careful of is not letting the promotion go on for too long. While a longer promotion may sound good, it won’t stir-up as much excitement as a shorter one. People will figure that since they have more time they can always come back again later.
Gloture is a Tokyo-based creative PR & Marketing agency offering Japanese market entry services for overseas companies entering into Japan. For inquiries into event management and marketing services please contact us at email@example.com