What operational areas should be focused on when you expand into the mass market?
Sales and Distribution Channels
Many companies in China are burdened with extremely inefficient channels which must be overhauled to tap the mass market profitability. A large portion of revenues flow through three or more channel layers, and only few companies have point of sale visibility. Companies must transform in new areas to improve their sales and distribution channel effectiveness to reach the mass market profitably .
Research, Development and Procurement
Until recently, many companies have limited their R&D investment in China but despite IP and other issues, a sharp increase is likely in the future. Companies are struggling to find qualified local suppliers, but their focus will gradually shift to deeper supplier collaboration. Companies must execute in four key areas of R&D and procurement to develop products at the right price points for mass markets.
Human Resources
Companies must develop more creative human resources strategies to build a large, qualified talent pool to pursue mass markets. Companies already face an acute talent shortage which will undoubtedly grow more severe as they pursue mass market opportunities. While there are no quick fixes, companies should consider innovative approaches to address talent shortage and localisation issues
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