Japanese Business Market Essay

1360 words - 5 pages

Introduction

External influences affect the types of products developed, the nature of positioning and market segmentation strategies, the type of services offered and the choice of business to acquire. The increasing complexity of business today is evidenced by more countries developing the capacity and will to compete aggressively in world markets. The external influences that affects a business venture in the global market varies from country to country. Establishing a new business venture in an area such as Japan would require an analysis of its cultural and economic environment. The Japanese market is considered to be the world’s most lucrative market. The biggest problem is how to get into it. Japan is known throughout the world for its economic successes, yet Japanese society remains an enigma to many outside its borders. The analysis conducted in this paper will present the positive and negative aspects of opening a in the Japanese market.

Brief History

Japan, an island country is a series of Eastern Asia island chain between the North Pacific Ocean and the Sea of Japan, east of the Korean Peninsula. It is slightly smaller than the state of California. With a population estimated at 127 (July 2004), Japan is three times more densely populated than Europe as a whole and twelve times more densely populated than the United States. 2 While retaining its time-honored culture, Japan rapidly absorbed Western technology during the late 19th and early 20th centuries. After its defeat in World War II, Japan recovered to become an economic power and a staunch ally of the US. While the emperor retains his throne as a symbol of national unity, actual power rests in networks of powerful politicians, bureaucrats, and business executives. The economy experienced a major slowdown starting in the 1990s following three decades of unprecedented growth.3

Business Venture

Establishing a restaurant, specializing in Caribbean and Japanese cuisine will offer a different flair of food service in the Japanese market. The Japanese are known for mixing business and pleasure by entertaining business partners. The typical Tokyo business day includes working from 9 to 6 or so, then going to dinner with business associates, then visiting a bar to relax over drinks or maybe even sing karaoke. Many Japanese businesspeople don't get home until midnight, only to repeat it all again the next day. If you enjoy the nightlife, Japanese business can be lots of fun. In addition, they are known for their preference of quality service and support. They are walking bulletin boards. They will market your business because of their value on quality and service. Based on these known pointers, establishing a new business venture in Japan would seem like the ideal investment opportunity. Creating an environment with a pleasant atmosphere, good eating and a relaxing atmosphere for conducting business agendas would seem practical.

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