Japan is a nation made up of a group of islands on the east coast of Asia. Japan shares borders with China, North and South Korea, Russia, Taiwan, the Sea of Japan, the Sea of Okhotsk, and the East China Sea. The capital of Tokyo is located in one of the islands call Honshu and it is one of the most populated cities in the world. The earliest recorded history of Japan is from 1st century BCE records in Chinese courses. In its early period, Japan closes its borders to the world until reopening and contact with water civilization in the mid-19th century. However, after the second world war defeat, Japan has enjoyed tremendous economic growth. PESTLE Analysis of JapamPolitical Factor: Japan runs a parliamentary political system and also has a figurehead monarch. Japan adopted a pacifist constitution post-second world war. However, it is a strong player in international politics. Japan is a close allied of the USA. Japan has had resources disputes with its neighbors such as Russia, South Korea, and China. Nigeria operates the presidential system of government. It has been politically stable for the past twenty-one years. Africa is the fulcrum of its foreign policy
Japan has a very strong economy. Japan's economy is a mixed economic system. Japan is one of the biggest producers and exporter of manufactured goods. Japan depends on the importation of raw materials for its factories. In addition, Japanese owned businesses are expected to pay corporate tax on the income they generate in Japan and abroad which is not applicable to foreign-owned businesses operating in Japan. Japan has a robust educational system that trains students on being a contributor to society. Nigeria's economy is largely dependent on the sale of crude oil and natural gas. Though the present government is working at diversifying the economy from being dependent only on crude oil sale.
Japan has about 127 million population. Japan is open with respect to religion. Most people speak Japanese. It has a patriarchal inheritance system. Japan has an aging population and low birth rates. This may lead to a reduced Japanese population in the nearest future. The impact might be a skill gap in the working age. Most Japanese have a preference for Japanese companies to foreign ones. Hence, foreign businesses planning to expand to Japan must carry out a thorough environmental scanning prior to moving into the Japanese market. Nigeria has a large population of about 187 million. It is a multi-ethnic and multi-religion society. Doing business across different regions may require learning about different cultural values.
Japan is one of the leading countries in innovation and technology. Japan is well ahead of many other advanced countries in robotic development. More than half of the industrial robots in the world are used in Japan. These developments offer great opportunities for both Japanese and foreign individuals and companies. Nigeria has a large growing number of youths that are computer literate. Also, smartphone penetration has been on the increase. Environmental Factor: Japan is sustainable mindful and relatively clean. In addition, Japan is working to limit waste and control ecological contamination. Japan is generally prone to catastrophes and natural disasters. Every now and then Japan is hit by Tsunamis, earthquakes, floods, landslides, and volcanic emissions. These catastrophes cost Japan billions of dollars for rebuilding and control efforts. Hence, Japan is not a popular destination for tourists due to language constraints, fear of natural disasters and high cost. The government plays a leading role at tackling ecological environmental issues.s However, there are concerns and noise and smoke pollution due to inadequate electricity that makes most businesses and homes to run on generators
Japanese labor and corporate laws are designed after the Western legal framework. Nigeria labor and corporate laws are also designed after the Western Legal framework, US-based product to be introduced to Japan Coca-Cola, or Coke, is a carbonated soft drink manufactured by The Coca-Cola Company. The name was derived from its original ingredients: coca leaves, and kola nuts. It was invented in the 19th century by John Stith Pemberton who later sold it to businessman Asa Candler. Asa Candler's marketing tactics led Coca-Cola becoming a dominant force in the world of the soft-drink market. The coca-cola company sells coca-cola concentrate to the licensed Coca-Cola bottlers throughout the world. The bottlers produce the finished products, distribute, and sell Coca-Cola to retailers and other outlets throughout the world.
Japnese Unique Business Customs Courtesy and Politeness:
Part of the common courtesy in Japan is that as a visitor to a customer office or home you have to know three times. In addition as a guest or visitor, you have to wait for the host to ask you to sit down. When you also walk the customer to the elevator, you have to wait till the elevator arrives and bow as the client just before the elevator door closes Respect: Japanese society is a high power distance culture. Hence, status is important in a business meeting. The seating arrangement, introduction of guests and handshaking often follow the status.
Entertainment: Etiquette around entertainment must also be observed. Allow the host to sip the tea before bringing your own cup to your lips. Dress Code: The dress code for business is conservative. Men generally wear suits and women wear minimal jewelry and avoid high heel shoe. It is also part of the norm to remove your coat outside an office before you enter the office and fold it on your arm before you go into the office.
Business Cards: In Japan, there is an etiquette system around the handling of Business cards as this is belive to be part of the person’s identity. Business cards must be handled properly to show respect. It is advisable to put the card below your clients' business cards when exchanging business cards. This shows that the client's business card is important to you. In addition, you must receive business cards with both hands, go through it briefly and keep it on the table before tucking it away. Also offer your card with both hands, walk to the recipient if they are far away from you. Privacy is Valued: Japanese are highly reserved and valued their privacy dearly. Hence, it is advisable to avoid asking a lot of personal questions at the beginning of the relationship. Japanese may regard this as rude or pushy.
Avoid High Pressured Pitch:
Japanese are more disposed to a gentle, persuasive proposition, that shows value. Also, it is advisable to allow time for decision making as a decision in Japanese culture is through consensus. Asking for thigh deadline may be seen as disrespectful. The try to see the long process as an opportunity to build trust and cement the relationship. Importance of Marketing Strategy A global marketing strategy enables a business to create a competitive edge over its competition. It also helps businesses to develop goods and services that are effective at meeting customer needs and has the potentials to generate the best profit. In addition, it assists a business to learn and improve on the business areas that need improvements and thereby helps in creating an organizational plan to cater to the customer needs.
Businesses can also standardize their products and services and helps in arriving at data-driven prices based on data collected by market research. Based on data from marketing research, businesses can optimally deploy their resources to each market based on market needs. In addition, global marketing helps businesses increase customer awareness of business products and services. Increase awareness leads to increase interactions with the business products and services and increase sales
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