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Taipei City Research

Essay by   •  November 17, 2010  •  389 Words (2 Pages)  •  968 Views

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Target Market Research - Taipei

Taipei, the capital of Taiwan, has been at the centre of rapid economic development in the country and has now become one of the newest global cities in the production of high technology and its components. This economic growth began in the early 1960's and has taken off in the new millennium. This city is part of the so called Taiwan miracle which has seen dramatic growth following foreign direct investment in the 1960s. Taiwan is now a creditor economy, holding one of the world's largest foreign exchange reserves of more than $500 billion (100 G$) in 1999. Despite the Asian financial crisis, the economy continues to expand at about 5% per year, with virtually full employment and low inflation.

As a company seeking to expand into new regions, we began our search in Taipei, realizing the growth and capitalization on high technology. The major industries in the city include electrical and electronic manufacturing, textiles, metals, shipbuilding, and motorcycle manufacturing.

Having already established Taipei as a front runner for manufacturing our product, we evaluated the market and consumers are product would be reaching. Already knowing our product would be easily marketed to high-end consumers, we evaluated Taipei's consumers. Most consumers in Taipei have an understanding of how our product works and marketing a product with consumer understanding, easily provides a company with initiative. However, just recently consumers and visitors alike have been visiting and moving to China on a larger scale then Taipei. The trickle of visitors to Taipei, compared to the surge to China, is a sign of the island's overall decline in regional importance as foreigners skip Taiwan for its fast-growing neighbor across the straits. Taiwan businesses are relocating their factories to China, where overheads are lower and they have a better chance

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