Sony, Groupon, Toyota Dec 24, 9: TOAegerion Pharmaceuticals Inc.
By that, they mean shuttering many of their 80 Chinese offices, slashing jobs, and dealing with a pending lawsuit from former employees. Groupon made a number of blunders in China. Here are three things they will need to do differently to have a shot at success in the future.
Their very culture is in jeopardy. But it must have come as quite a shock to their marketing department when the ad spread like wildfire through the Chinese blogosphere. But their potential customers did make the connection. Being a successful international organization means being able to function in a borderless business environment where information flows in real time.
The adage that all press is good press does not apply to a foreign entity attempting to enter a very competitive and crowded market.
Instead of deeply offending their customers, Groupon should have been more culturally agile by demonstrating a heartfelt respect for potential buyers and a genuine desire to understand them in order to add value—not just take their money.
Localize and listen One of the few things that Groupon did right in China was to have local partners. The goal of a localized joint venture is to work with partners that already have a deep understanding of the target market and can add valuable input to help make the venture successful.
While I was in China, I interviewed the general manager of a large foreign retailer there. She told me that when the needs of her foreign employer and the demands of the Chinese market were at odds, the local demands always came first. A culturally agile organization listens and responds to local market dynamics, customers, employees and partners.
Groupon may yet learn this lesson. The ad at the top is for Groupon. This issue is not the root of their problems, though.
Flickr user whatleydude ].Dec 24, · Among the companies with shares expected to actively trade in Monday's session are Sony Corp., Aegerion Pharmaceuticals, AT&T, Groupon and Toyota. Pandaily is a tech media based both in Beijing and Silicon Valley.
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I'll be moving to Shanghai in April for 4 months. I'd like to know if they are any Groupon equivalents in China (or if Groupon also exists there!). Investors are still betting on fast growth in China’s more rural cities, if Pinduoduo’s Thursday initial public offering is anything to go by.
Sometimes dubbed the Groupon of China, discount e.
Markets reopened on a strong note after the Lunar New Year holidays despite losses on two days of the week. The Shanghai Composite Index declined on Monday after losses for industrial and.
Discover and save on s of great deals at nearby restaurants, spas, things to do, shopping, travel and more. Groupon: Own the Experience.