Date Added: Jul 2010
Japanese consumers are known to place significant value on quality, a fact foreign retailers have used in their global business. It's often said that products succeeding in the Japanese market will have a better chance of success in other markets around the world. Companies significantly improve the quality of their products and services by incorporating into their product development feedback gained from highly discerning Japanese consumers. There have also been many successful cases in which foreign retailers have utilized all three models: first entering the Japan market through license tie-up, then after attaining market knowledge, sales, and marketing capability forming a joint venture, before finally making the transition to a wholly-owned subsidiary of their parent company.