MEC Shares 5 Important Factors of International Marketing in the Asian Market

MEC shares insights on international markets that are important to businesses
Expansion of business to international market certainly requires careful structured planning. With great opportunities, the challenges faced will be even more diverse.

The strategies that are usually applied by businesses in the local market are not necessarily in accordance with international market conditions. The Marketing Enthusiast Community (MEC) also shares a number of insights that need to be considered by local businesses before entering international trade or implementing international marketing strategies.

In a virtual sharing session entitled International Marketing Insight with Adrie R Suhadi, Indonesian Market Lead NielsenIQ and Dipa Komala, Former Group Country Head and Marketing Director of PT Mayora Indah Tbk, MEC presented international market data that could be useful for interested businesses. develop the brand in the international market.

Adri said, there are five forces that are shaping the future of the international market, especially in the Fast Moving Consumer Goods (FMCG) market in Asia that business people need to pay attention to. The first factor is the supplier power. With the inclusion of omnichannel , there is a change in the channel of goods providers in the Asian market. But until now, traditional channels still dominate the market.

The second factor is buyer power . Business people must continue to understand the international market consumers and the changes that will continue to occur. During this pandemic, there are four consumer groups namely existing constrained, newly constrained, cautious insulated and unrestricted insulated.

These four consumer segments have their shopping behavior influenced by pandemic conditions that can change their source of income. In the Asian market, as many as 69% of consumers fall into the constrained category , which means that their shopping behavior is limited due to changing financial conditions.

Third , Threat of New Entrants. More and more businesses are entering the market. Consumer needs and changing trends trigger many new players to enter the Asian market. With increasingly fierce competition, business people need to be observant in seeing market potential and opportunities. Then the fourth factor , the threat of substitution. Here, business people also need to pay attention to the products that enter the market.

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The fifth factor that needs to be considered is competitive rivalry. With increasingly fierce competition, business people should not be careless with local players. Currently, many local players are starting to venture into the international market to expand their business. Implement strategies that make the brand stand out from other competitors.

“In conclusion, all these forces need to be considered so that business people can determine the right steps and in accordance with market trends and consumer behavior that will always change. This is important to pay attention to so that business people can recognize competition and do not lose great opportunities in the international market,” concluded Adri.