Bizmen urged: Take advantage of Chinese tourist market
CEBU businesses were encouraged to take advantage of the growing Chinese market in the province.
With more Chinese tourists coming in as well as investors doing business in Cebu, business should be able to serve these customers.
Something as easy as putting Chinese translations of menus or signages is already a step, according to Dr. Brian To, a global strategist and a senior practice professor of strategy and leadership.
“Your customers are not just from the Philippines. You have to meet the needs of the tourists. To the mainland Chinese, P2000 is nothing for a meal. It’s petty cash for them. Know who’s coming.
Know what their tastes are,” he said in yesterday’s CDN Conversations 6 at Radisson Blu Cebu.
While Koreans may still be the top tourists in Cebu and the Philippines, To said the Chinese had been slowly catching up.
At the same time, he said that Chinese tourists would tend to spend more when on vacation than the Koreans.
On the part of Chinese investors, To said the investment strategy of the Chinese had been shifting from America to places like Cambodia, Myanmar, Vietnam, and the Philippines.
“(The) Philippines is a leading destination because the results last year was so fantastic. The GDP (gross domestic product) growth is good,” he added.
Business owners, marketing and advertising professionals from at least 80 companies in Cebu attended the sixth edition of the CDN Conversations on Thursday (July 26) with the theme “BUY-
OLOGY: How to Influence Consumers Buying Habits.”
But the entry of more foreign investors, local business should also step up their game.
To said international brands coming in would pose a challenge to local enterprises which would have to compete with them.
“More (international investors) are coming in a way you’ve never felt before. Where you can compete is service. You cannot compete in investment dollars. You have to compete where you are great, not just where you are good,” To said.
For his part, Bryan Siy, executive creative director of TBWA/Santiago Mangada Puno, highlighted the need for businesses to learn more about their target market.
He said that with millions of content generated every day, especially on social media, companies will have to be able to directly connect with their target markets.
“It’s difficult if you don’t know your customer or audience. If you know who your target market is and what makes them smile and you’ve don enough to capture their attention, the job will not be difficult,” said the advertising official.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.