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This Essay Discusses Some Of The Aspects As To Whether Or Not It Would Be Wise For Proctor And Gamble To Enter The Asian Market.

1411 words - 6 pages

Procter and Gamble is well known as one of the worlds leading companies in the area of consumer goods. As a multinational company, their strategy must vary greatly based on the country they are marketing their products in. In the case of Procter and gamble's expansion into China, I believe the reason they expanded into China is obvious, Profit. With a population of more than one billion people, China is a country that is full of potential for just about any company, especially one that focuses on consumer goods. Some of the important factors that Procter and Gamble must consider when entering the Asian market are factors such as the monetary policy, the economic environment, and cultural issues. Procter and Gamble's strategy in China is simple, as stated in their website, "Consumer is Boss". The company focuses not only on what is most profitable for them, but what is also going to benefit the consumer the most.Procter and Gamble expanded into China for one major reason, market potential, which in turn leads to profit. As I stated earlier, with a population of more than one billion people, China quite possibly has the best market potential in the world. The goal of every business in the world is to make money, Procter and Gamble is no different. The best way for a consumer goods manufacturer to increase profits is to get their products in to the sight and reach of as many consumers as they possibly can. Now I don't know about you, but in my opinion, China's population and market potential is such that any multinational company that does not try to break into that market and figure it out is making a phenomenally catastrophic mistake.Let's just think about this and take a look at the numbers. According to the United States Census Bureau, China's population is about 1,294,630,000. That is over twenty percent of the entire world population. India comes in a close second with a population of just over 1,049,700,000, which is about sixteen and one half percent of the world population, while the United States is a distant third with a population of only 290,342,000, a mere four and one half percent of the world population. By virtue of numbers alone, China has the potential to be the largest profit center in the company.When entering into the Asian market, there are many important factors that Procter and Gamble had to take into consideration. I will discuss a few of the factors that, in my opinion, were major factors in the decision to enter this market. These factors are the monetary policy, the economic environment, and cultural issues. First of all, I will focus on the monetary policy in China. The People's Bank of China is the key monetary policy implementing institution in China. It is the Chinese central bank, basically, the equivalent of the U.S. Federal Reserve Banking System or the German Bundesbank.The reason the Asian monetary policy is an important factor for Procter and Gamble is because much of the products that they market are labor...

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