Chinese companies should pay attention to data mining talent training customer positioning

May 23, at the invitation of Cao (K.P. Chao), chairman of the Hong Kong Yongxin Group (novel Enterprises Ltd), Eric, a marketing professor at the Wharton School of Business. Bletterau (Eric Bradlow) visited China for the first time. The two-week trip destinations include Hong Kong, Shanghai, Hangzhou, Xian and Beijing. Bletterau's research topics include specific content such as online auction behavior, grocery store shopping patterns, and he is also the academic director of the Wharton Small Business Development Center. The center arranges for Wharton students to provide project advice to small businesses in the Philadelphia area. In an interview with reporters, Brett talked about his impressions of China. Interviewer: After visiting China, how did you change your view of China? What surprises you most about traveling through many cities? Bletterau: I didn't expect to see China have such a high-tech infrastructure. China's big cities are far more than the United States in many ways. Of course, this may be because China is "new", and many parts of the United States (infrastructure) are twenty or thirty years old. China is on a thriving road, and I am delighted to witness its initial phase. Interviewer: You have studied online auction sites and customer behavior in some special retail industries, what data analysis do U.S. companies do to improve business competitiveness? Bletterau: The thing that American companies do most is ... They are digging for data to understand their customers ' ideas. The biggest difference now from 20 years ago is the development of technology and the ability to track individual customer behavior. Now that companies can do this, they can locate customer groups for their products, which will increase short-term returns and loyalty. Follow the data! This has always been my suggestion. Finally, in addition to this data, you want to ensure that there is a unique "value theme". It's always easy to start a company, but it's easy to fail. Entrepreneurship is easy yeh difficult. You need to be clear about the needs of the target market. Journalist: Have you done anything else to enlighten Chinese companies? Bletterau: I'm with two colleagues from the Wharton Operations and Information Management department, Malis. Schweitzer (Maurice Schweitzer) and Jack. Heche (Jack Hershey) wrote a paper on the rebuilding of trust. The main expression of this paper is that trust is fragile, but can be repaired after being destroyed, and further, the promise of improvement and the apology for the past may help rebuild trust, but only if the customer is not deceived and lies. So, my advice is that once a company makes a mistake, it should be bold enough to admit it, make a public apology and take appropriate remedial action. In addition, in the Wharton Hong Kong Forum, I have read and talked about the booming status of online gaming and online shopping in China. For current Chinese companies, my advice is the same as advising US companies on the eve of the IT bust 7 years ago: Focus on repetitive purchases! I suggest that all internet companies don't just stare atExpand new Sales groups, more importantly, repeat sales of old customers. Watch out for companies that are looking for an unlimited customer base to grow. Journalist: As the academic director of the Wharton Small Business Development Center, can you give an example of how Wharton students help to improve the business performance of small businesses? How do you think you should develop your students ' entrepreneurship? Bletterau: Of course. One of the companies that I've worked with, which I personally like to call "first taste," is to produce a soluble taste strip that can basically add any flavor or drug. We work with them to help them find attractive target markets. The process was inspiring, because their ideas were wonderful. There are two basic elements in the entrepreneurship of cultivating students. First, accept "digital training". When a person can accurately analyze numbers, his business from the "intuitive-oriented" to "Digital center type." and business needs to be able to "learn", for business data (such as visibility, sales, etc.) tracking and measurement is the key to success. Second, let go of your own business, say dry. There is no better training than a hands-on experience in a mall. Interviewer: What do you think are the major challenges facing small businesses in China? What can the government do to help prop up these small businesses? Bletterau: I think in China and elsewhere, the key to success for any business is to have a unique value theme. In other words, you have to have a different product to serve a suitable target market to meet some basic needs. In China, the challenge is to find this unique product and then use the best way to deliver it to specific target customers. I think there is room for improvement in China's infrastructure for commodity distribution, and any government move to promote free distribution of goods will benefit companies. Journalist: Chinese enterprises are known for their high productivity and low labor costs. Will this change in the future? What are the main challenges for Chinese businessmen to compete in the global business environment? Bletterau: Like all emerging developing countries, Chinese workers ' wages will rise and there will no longer be the world's low-cost suppliers. Indeed, the process has begun and factories are moving to India and Vietnam. This requires China to maintain its development in the field of non manufacturing industries, and continue to train outstanding scientists and scholars to broaden China's industrial base. And from the five universities I visited in China, China is doing well on this road. Reporter: If I want to start a tourist company in a small city near Hangzhou, there are many beautiful and rich traditional Chinese hotel and scenic spots, but only for the outsiders know, you will give me what marketing advice to attract more tourists? Bletterau: Use the Internet, use word of mouth, use loyalty project. Many people make decisions based on "human power". Find a breakthrough from here! Second, in other tourist cities (Beijing, Shanghai, Xi ' an, etc.) more publicity to Hangzhou. MostMost importantly, find the "best placement": Who loves Hangzhou's "typical character"? Once you figure this out, lock in as many people as you can. Reporter: In this era of globalization, how do you assess local factors? Must business success depend on the internationalization route? Bletterau: At the Wharton Small Business Development Center, I work with many local businesses. A successful global enterprise is often started by local enterprises. I often advise clients to establish a successful local enterprise first. Many companies have the ability to scale. Failure is often due to the lack of a solid core. Let's develop this first. Journalist: What advice would you give to American companies who want to promote their products in big cities in China, such as Beijing or Shanghai? Bletterau: Know the local people! People are the same as people, and culture is not. I learned from my travels that China is very proud of its culture. A deeper understanding of consumers ' ideas will help global companies succeed in China. Everything in China has its own unique and magical cultural core. If a company just enters China and then chooses this as my brand, it is bound to suffer setbacks. China is one of the world's largest emerging markets, and it is worthwhile to invest here. Journalist: You have travelled to one of the most vibrant cities in the world (Hong Kong), one of the most prosperous city in mainland China (Shanghai), one of the hottest tourist cities (Hangzhou), and Xi ' an and Beijing. What's your impression of these cities, please? Bletterau: Hong Kong is surprisingly beautiful. I was born and raised in New York City center, but I've never seen a scene like Hong Kong. I finally understand why people call it one of the greatest cities in the world. Taiping Peak, Repulse Bay, Stanley Market, and all other attractions, I like. Hangzhou is also very beautiful, where the West lake is very beautiful ... Shanghai has left a lot of good memories for me, including visiting the local market, strolling along the Huangpu River and Fudan University. Xi ' An and terra-cotta warriors are indeed one of the world's best tourist destinations, a well-deserved reputation. The majestic expanse, the round roof, the terra cotta figurines, and the beautiful surroundings are all awe-inspiring. Finally, I have to talk about Beijing. I can imagine myself living in Beijing. I like the old and the new, the feeling of the blending of history and modernity. It seems that Beijing is really ready to meet the Olympic Games. As a hardcore sports fan, I hope 2008 can be little, although it will be "hilarious", but also will be fun.