Michael Backman > Quotes

“There is no such thing as an Asian market. There is not even a singular Chinese market. The degree of adaptation will depend on your product and where in Asia you hope to sell it.”
― Michael Backman, Big in Asia: 25 Strategies for Business Success

“Whereas the business community in the West is a community of companies, the business community in Asia is a community of people. In the West, companies tend to do business with one another. In Asia, the deals are all done between personalities.”
― Michael Backman, Big in Asia: 25 Strategies for Business Success

“Western companies tend to list on the stock market so that they can raise funds to expand. But the situation is often quite different in Asia. Listings all too frequently are little more than exit strategies, as founding families seek to off-load assets that no longer perform well and that they no longer want. 'What is profitable is mine, but what is not is yours' is the guiding principle of many a majority shareholder in Asia.”
― Michael Backman, Big in Asia: 25 Strategies for Business Success

“Most Asian companies rely on their cost and speed advantages, and so have not developed strong marketing skills. Therefore, although in Asia foreign firms may be competing with similar products and targeting the same customer groups, their superior marketing approach can give them an enormous competitive edge when it comes to winning customers.”
― Michael Backman, Big in Asia: 25 Strategies for Business Success