Management in IB Project.pptx - required

Editor's Notes

• #2: How does it work? Exercising the mind is essential as well, which can be trained just like you would a bicep using Mendi. This clinical-grade neurofeedback device features a headband that picks up neural activity and uses it to control a training game. The Mendi headband makes brain training tangible by visualizing your neural activity in the Mendi neurofeedback game. While you play the games the headband picks up on your brain activity. For example: make the ball rise and earn points. The ball’s movement upwards alongside streaks in collecting points indicates an increase in brain activity. The product has the connection with the Mendi app Customer based report: Based on a customer data report, customers who used the Mendi brain training device experienced maintained aid and increase in: Mental wellbeing, creativity, learning, self-discipline, daily functioning, and emotional regulation Mental wellbeing: 94% Creativity: 90% Learning: 87% Self-discipline: 74% Daily functioning: 92% Emotional regulation: 81%
• #3: How does it work? Exercising the mind is essential as well, which can be trained just like you would a bicep using Mendi. This clinical-grade neurofeedback device features a headband that picks up neural activity and uses it to control a training game. The Mendi headband makes brain training tangible by visualizing your neural activity in the Mendi neurofeedback game. While you play the games the headband picks up on your brain activity. For example: make the ball rise and earn points. The ball’s movement upwards alongside streaks in collecting points indicates an increase in brain activity. The product has the connection with the Mendi app Customer based report: Based on a customer data report, customers who used the Mendi brain training device experienced maintained aid and increase in: Mental wellbeing, creativity, learning, self-discipline, daily functioning, and emotional regulation Mental wellbeing: 94% Creativity: 90% Learning: 87% Self-discipline: 74% Daily functioning: 92% Emotional regulation: 81%
• #4: Most consumer neurofeedback is based on measuring electroencephalography (EEG) or brainwaves. Instead, in functional near-infrared spectroscopy (fNIRS) neurofeedback, fNIRS detects changes in the brain's local blood flow and oxygenation in response to neural activation. Mendi’s fNIRS high-fidelity signals are processed with proprietary algorithms to create simple, visually comprehensible, and easy-to-learn local feedback signals. The key aspect of this technology is that it measures the brain's response to changes in activation, which allows for much more efficient and precise neurofeedback training. The fNIRS sensor is placed over the forehead, and beneath it is the prefrontal cortex (PFC) which plays a key role in the mental processes of the Executive Function (e.g. focus and working memory). fNIRS neurofeedback is similar to weight training for the PFC - with repeated training lasting structural and functional neuroplasticity will occur. Because it is a form of neural exercise, Mendi neurofeedback training is perfectly safe, proven effective and its benefits are enduring. Our brain health model combines neurofeedback training with behavioral science to help you achieve a healthier brain. By diligently committing to Mendi's neurofeedback training and in-app recommended brain boosters, you will contribute to sharpening your mental acuity which includes: deep focus, attention, cognitive flexibility, self-control, emotion regulation, and motivation.
• #5: Firm: Mendi is based out of Stockholm, Sweden and is known for its brain training device. The company's hardware device is a technological headband that can be paired with a mobile training application for real brain training with no usage limits, enabling individuals to strengthen their brains for improved mental well-being, performance and overall health. Original project received funding from the European Horizon 2020 research and innovation programme under grant agreement NO. 888409 which was what originally changed Mendi from project to product
• #6: Mendi could be mentioned as a Born Global firm due to many characteristics, such as: · The fact that in only 5 years is already present in 43 nations; · It has been founded for two engineers: Sammy Saldjoghi and Rickard Eklöf, they both have already a historic path related with the formation of successfully companies; · The turnover of the company is approximately €4 Million, a lower value when comparing with traditional exporters; · Mendi launched a campaign on leading crowdfunding platforms (Kickstarter and Indiegogo) and quickly become the most funded and pre-ordered product in the categories of brain and mental health, and #1 from Sweden in all categories; · It has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement; · The soft Mendi headband was the first product allowing the neurofeedback training in the comfort of our houses, using the functional near-infrared spectroscopy (fNIRS) technology that allows to measure the brain's response to changes in activation, which result in a much more efficient and precise neurofeedback training; · High Quality Hardware: Hand-Made Swedish design using premium materials, fusing style and performance · Superior sensory: clinically tested signal quality that outperforms laboratory equipment · A lot of research partners and customers: Aerospace, University of Victoria, University of Gothenburg, University of North Dakota and many more.
• #7: In the Michael Porter’s concept of Value Chain, the business’s activities could be divided into two different activities: Primary and Support. Concerning the primary activities: · Inbound logistics – All the devices of Mendi are hand-made produced in Sweden and then, available to send for one of the 43 markets where the company is present. · Operations – This company seeks to deliver a high-quality product, for this reason this is a hand-made design with premium materials elaborated with a clinical test signal quality that outperforms laboratory equipment. Moreover, the company has a lot of research partners to help keep the product as credible as possible. · Outbound logistics – Regarding to the distribution of the product, at the moment, Mendi operates in more than 40 markets. However, there is only one way to buy the Mendi’s product which is online on Mendi’s Website, in turn, transportations specialists as DDP and DAP will allow that the product arrives to the buyer. · Marketing and Sales – This company invests more in superior quality and research than in marketing activities. However, its entire experience on the website is a form of marketing: providing user’s testimonies, an attractive website that motivates the consumer to know more about the product, possibility of 100% money-back guarantee for 30 days and many more. · Service – One of the main goals of Mendi is that all the users of the Mendi brain training enhance their experience to the fullest, in order to achieve that Mendi’s company has a customer service available on website, as well as a live chat available for some buyer’s question and a customer-oriented email. Furthermore, offers the possibility to refund in 30 days if the costumer is not satisfied with the product and also offers a 1-year warrantee since the moment that the buyer receives his device. Regarding the Support activities: · Procurement- Mendi together with some research partners handles the procurement for some technology that is helping to improve the global brain health; · Technological Development – The innovative technology used in the Mendi’s product is one of its competitive advantages; · Human Resources Management – Being a born global firm, Mendi has not so many employees but these ones that work in the company has been presented with three concepts that represent the departments in the company: “Impact” all the workers in the company are focused on improving the global brain health, “Team” in the sense that all the workers should be together and work to the same direction and “Co-ownership” to be really engaged, all the employees should have ownership in the company; · Infrastructure – The company is divided into 3 different departments – Marketing, Operations and Product & Engineering.
• #8: In the Michael Porter’s concept of Value Chain, the business’s activities could be divided into two different activities: Primary and Support. Concerning the primary activities: · Inbound logistics – All the devices of Mendi are hand-made produced in Sweden and then, available to send for one of the 43 markets where the company is present. · Operations – This company seeks to deliver a high-quality product, for this reason this is a hand-made design with premium materials elaborated with a clinical test signal quality that outperforms laboratory equipment. Moreover, the company has a lot of research partners to help keep the product as credible as possible. · Outbound logistics – Regarding to the distribution of the product, at the moment, Mendi operates in more than 40 markets. However, there is only one way to buy the Mendi’s product which is online on Mendi’s Website, in turn, transportations specialists as DDP and DAP will allow that the product arrives to the buyer. · Marketing and Sales – This company invests more in superior quality and research than in marketing activities. However, its entire experience on the website is a form of marketing: providing user’s testimonies, an attractive website that motivates the consumer to know more about the product, possibility of 100% money-back guarantee for 30 days and many more. · Service – One of the main goals of Mendi is that all the users of the Mendi brain training enhance their experience to the fullest, in order to achieve that Mendi’s company has a customer service available on website, as well as a live chat available for some buyer’s question and a customer-oriented email. Furthermore, offers the possibility to refund in 30 days if the costumer is not satisfied with the product and also offers a 1-year warrantee since the moment that the buyer receives his device. Regarding the Support activities: · Procurement- Mendi together with some research partners handles the procurement for some technology that is helping to improve the global brain health; · Technological Development – The innovative technology used in the Mendi’s product is one of its competitive advantages; · Human Resources Management – Being a born global firm, Mendi has not so many employees but these ones that work in the company has been presented with three concepts that represent the departments in the company: “Impact” all the workers in the company are focused on improving the global brain health, “Team” in the sense that all the workers should be together and work to the same direction and “Co-ownership” to be really engaged, all the employees should have ownership in the company; · Infrastructure – The company is divided into 3 different departments – Marketing, Operations and Product & Engineering.
• #9: Not founded
• #10: Strengths Mendi product is the world’s most powerful brain training device designed for home use Innovation and new technologies development – Strong focus in improve the brain health in collaboration with many partners e.g functional near-infrared spectroscopy (fNIRS) neurofeedback Cheaper price when comparing with a limited number of sessions of clinical neurofeedback – Currently, we can get a Mendi for $279 (without ongoing fees and 1 year of warrantee) while a limited number of sessions of clinical neurofeedback can cost upwards of $15,000 International recognized - After a campaign on leading crowdfunding platforms quickly become the most funded and pre-ordered product in her categories, and #1 from Sweden in all categories. It has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement. Competitive Advantage – price (cheaper than other devices) and features of the product (high quality and use of advanced IT) Weaknesses Few financial and other resources - the turnover of the company is approximately €4 Million, a lower number when comparing with other firms. Most of the users claim about the device has only one game which become the training boring Website and device available only in English Located only in Sweden Opportunities Growing concern with mental health – Second important research made by Mendi: “One in four people is estimated to be affected by mental or neurological disorders at some point in life” Enter in new markets mainly in countries with older societies and with rates of mental problems e.g Japan Threats Potential competition - the customers could prefer to move to the neurofeedback clinic because they believe that it will be more credible and other companies that have developed brain training devices: Narbis, Muse, Sens.ai,… Traditional societies not open to change Scepticism about the results – the results are not palpable, this fact could lead many people not believing in the product
• #11: Research and development of the product started in the Neurofeedback Clinic in Stockholm, Sweden. Patients were wearing sophisticated headsets powered by sensors tracking blood flow and oxygenation levels in the brain. The effects of the training were undeniably positive. This realization led to pursuing Mendi as a project to make sophisticated brain training accessible to the masses at a democratized price point. Now, Mendi has a department of product and engineering that brings together both designers as well as neuroscientists that validates the ideas. As a born global firm, Mendi has numerous research partners, such as KU Leuven, Aerospace, University of Victoria, University of Gothenburg etc.
• #15: Japanese Market: Japan is known for playing a key and sophisticated role in the international trade system because of respecting the market through following rule of law and providing strong protection for intellectual and real property rights. Japan’s population is generally older and rapidly declining. As this happens there will be a shift in demands of goods from Japan to adjust to the consistent need for economic growth and the budgeting of resources. Japan will want more: Medical devices Biotechnology Smart devices Education services Home delivery services (since most people will not be able to travel to receive goods) Healthcare information technology that can also be accessible at home ALL QUALITIES OF MENDI PRODUCT. Japan continues to focus on the health and wellbeing of their older population. Having this product that can also be used by the younger population is an additional plus in bringing this product to Japan, as it would increase the overall health of the population - for present and future years. it is estimated that one of every 3.5 people older than 65 year in Japan will have dementia in 25 years. To address this problem, nationwide preventive measures are needed to delay the onset of dementia as much as possible. Compared with other countries, such as Europe and the United States, where research on dementia has been conducted since 1980, Japan has been the only country to report an increase in the prevalence of dementia, whereas the other countries have been reported a decrease or stability in the prevalence of dementia https://newsonjapan.com/html/newsdesk/article/124622.php (photo)
• #18: Japan wants to increase health research activities and encourage youth to pursue careers in medicine and technology Need for at home devices as mental health services are difficult to access or people feel they cannot get help. Having a home device would provide users with comfort and accessibility. In Japan, only 6% of people have used psychological counselling for mental health problems, compared to 52% in Europe and the US
• #19: Individualism Japan scores 46 in Individualism dimension. It is clear, that Japan has traits of collectivistic society: putting harmony of group above the expression of individual opinions and people have a strong sense of shame for losing face. However, there is no extended family system in Japan, unlike in other East Asian countries, such as China or South Korea. Because of that the Japanese society is not as collectivistic as Chinese or Korean. Even tough Japanese are famous for their loyalty to their companies, it is something that they chose for themselves, which is an individualist thing to fo. Collectivistic societies are characterized by the fact that people are loyal to their inner group by birth. Japanese can be seen as collectivistic from the Western perspective, but by Asian standards, they are individualistic society. Masculinity Japan is one of the most masculine societies in the world Difference in Japan’s masculine culture is that it does not demonstrate the typical assertiveness and individual competitiveness associated with masculine cultures Collective group competitiveness is present in Japan’s society, whether it be children playing on sports teams at a young age or people in the corporate world feeling more motivated when they know the company they work for/their team is doing better than the rest. Japan strives for excellence and perfection, specifically focused on products, services, and image (how everything is presented) It is difficult for women to get into the business world as strongly as men in Japan, as work hours and materials are typically put more on the male. In some sense, it is expected and a social norm to be a workaholic in Japan. Always striving for this perfection in your job, your production, and your life. Hofstede says that masculine societies are the ones who are typically the most successful economically. Japan falls into that category along with other countries like Germany, the United States, China Japan has a low score for being a feminine culture Japan struggles in this aspect which is what causes the issues in mental health awareness and overall priority of the well-being of citizens Specifically in men, the stereotypes and expectations are incredibly high and demanding. Working long hours and not having a set amount of time to spend with family, leisure activities, individual wants and needs. The question of whether Japan has “toxic masculinity” arises as men are told to be strong and show little emotion - since that would not be beneficial in a work environment. This is another aspect to consider when thinking about the mental health in Japan as men (more so than women) have instilled social norms such as dressing appropriately, not showing emotion (“men should not cry”), and the idea that men should not depend on anyone STATISTIC: In 2020, there have been approximately 21,000 reported suicide cases in Japan, and men are said to be twice as likely as women to commit suicide. *
• #20: Individualism Japan scores 46 in Individualism dimension. It is clear, that Japan has traits of collectivistic society: putting harmony of group above the expression of individual opinions and people have a strong sense of shame for losing face. However, there is no extended family system in Japan, unlike in other East Asian countries, such as China or South Korea. Because of that the Japanese society is not as collectivistic as Chinese or Korean. Even tough Japanese are famous for their loyalty to their companies, it is something that they chose for themselves, which is an individualist thing to fo. Collectivistic societies are characterized by the fact that people are loyal to their inner group by birth. Japanese can be seen as collectivistic from the Western perspective, but by Asian standards, they are individualistic society. Masculinity Japan is one of the most masculine societies in the world Difference in Japan’s masculine culture is that it does not demonstrate the typical assertiveness and individual competitiveness associated with masculine cultures Collective group competitiveness is present in Japan’s society, whether it be children playing on sports teams at a young age or people in the corporate world feeling more motivated when they know the company they work for/their team is doing better than the rest. Japan strives for excellence and perfection, specifically focused on products, services, and image (how everything is presented) It is difficult for women to get into the business world as strongly as men in Japan, as work hours and materials are typically put more on the male. In some sense, it is expected and a social norm to be a workaholic in Japan. Always striving for this perfection in your job, your production, and your life. Hofstede says that masculine societies are the ones who are typically the most successful economically. Japan falls into that category along with other countries like Germany, the United States, China Japan has a low score for being a feminine culture Japan struggles in this aspect which is what causes the issues in mental health awareness and overall priority of the well-being of citizens Specifically in men, the stereotypes and expectations are incredibly high and demanding. Working long hours and not having a set amount of time to spend with family, leisure activities, individual wants and needs. The question of whether Japan has “toxic masculinity” arises as men are told to be strong and show little emotion - since that would not be beneficial in a work environment. This is another aspect to consider when thinking about the mental health in Japan as men (more so than women) have instilled social norms such as dressing appropriately, not showing emotion (“men should not cry”), and the idea that men should not depend on anyone STATISTIC: In 2020, there have been approximately 21,000 reported suicide cases in Japan, and men are said to be twice as likely as women to commit suicide. *
• #22: Target market customer characteristics: After research based on the reviews, we found out that people who are using Mendi are meditation and mindfulness fans, who want to spice up their daily meditation practice and also gadget enthusiasts, who wants to try something new and begin their journey with brain training. From the testimonials on the website of Mendi we also know that major users group are people who are dealing with some mental conditions, such as anxiety and Mendi helps them to train being calm and more in the present. The benefits of using Mendi are similar to that from daily meditation practice, but because of gamified process and clear progress visible in the app, it could be interesting for people for whom meditation is too hard or boring, but wants to get benefits of it. People using Mendi are mostly adults. As the device costs couple of hundred dollars, our target group needs to be in rather good financial situation, so they could afford our product. Some of the traits of Japanese can limit the sales, that is their national overall skepticism and the shame of being weak, for example because of the mental problems. Because of that, we would focus on the group of people that are open minded, not afraid to try something new and are convinced to brain training as an overall concept Interesting characteristic: Why is Japan different? Older population that is encouraged to learn how to use advancing technology Japan has an older population which although calls for the need for such a device like Mendi to help with mental health and strength can also bring up the barrier between age and level of desire in interacting with technology. In 2021, Datareportal gathered information about Japan’s technology usage. In January of 2021, Japan’s population was 126.3 million people, out of which 117.4 million were internet users in some way. This is a benefit in bringing Mendi into Japan. It has been found that the older population of Japan likes the benefits of new technologies that enter the market, but feel that they need help in navigating and using it. Weaknesses in characteristics: Mendi only being offered in English could also provide weaknesses in selling to the older population. In a 2021 survey conducted by Education First it was found that Japan ranked number 78 on the list of english proficiency - which is categorized on the even lower end of countries with low proficiency in the English language. This being said, it would be an important factor to consider when bringing Mendi into Japan, as it may be significantly more successful if provided with a Japanese language option. Because Mendi is mainly an at home gadget that people can purchase and use on their own we think it would be important to focus on how Mendi is advertised to this population of people. Japan is known for This meaning, emphasizing that it is an easy product and that everyone can learn how to use it, no matter their age.
• #23: https://www.weforum.org/agenda/2022/10/japans-challenges-in-making-mental-health-more-accessible/ Stat: https://digital-shift.jp/startup_technology/220726
• #24: https://www.weforum.org/agenda/2022/10/japans-challenges-in-making-mental-health-more-accessible/ Stat: https://digital-shift.jp/startup_technology/220726
• #26: https://www.weforum.org/agenda/2022/10/japans-challenges-in-making-mental-health-more-accessible/ Stat: https://digital-shift.jp/startup_technology/220726
• #28: Factor 1: Partner Capability Mendi has partnership with: +) KU Leuven( Belgium): This university offers teaching, research, and service to the natural sciences, engineering, humanities, medicine, law, business, and social sciences. Mendi research partners at KU Leuven (Belgium) are using mendi neurofeedback training to help stress management works well with Mendi products. +) Funded by NASA, Mendi partners at Aerospace Corporation and the University of North Dakota (USA): Use Mendi Product for space brain training +) Mendi is partnering with Sweden's top researchers in ADHD at Sahlgrenska University Hospital and Gothenburg University. => Mendi have strong partnerships with well-known Universities and Institutions all over the world. It will create a strong reputation and background to Mendi. Factor 2: Access To Distribution Channel in Market Target (Japan) Base on the Shipping Policy in Mendi: The shipping fee on all Mendi Devices is free, regardless of your location. So in case, Mendi entrances to Japan, according to the Shipping Policy, it will be free shipping and consider as a advantage of company potential sale. Factor 3: Why Mendi can compete to other product in Japan Market Factor 3: Why Mendi can compete to other product in Japan Market: ( Pricing) Customer Market: +) Mendi is the world’s most powerful brain training device designed for home use. The Mendi system consists of an app and a headset. The system is safe for all ages => It is suitable for all age groups of customers in Japan. +) It’s designed to give users the chance to brain train anytime and anywhere => Majority of customers in Japan prefer convenient products. This function can be used anytime, anywhere and will be suitable for Japanese busy life. +) Have healthy mental health: The Japanese nation has one of the highest suicide rates among Organisation for Economic Co-operation and Development (OECD) countries. Since the economic slump in the 1990s, multiple mental health-related social issues have emerged and highlighted the distinctive psychological features of Japanese society. => With the advance of Mendi function to mental health, Mendi will bring a potential aspect to Japanese Compare to other brain headset product in Japan: There are some products of brain training headset in Japan now: Neeuro, Omnifit, NeU Advantage of Mendi compare to other product: As discussed earlier, affordability at the same quality as the clinical sessions is the main competitive advantage of the device as it costs as low as $299 for early bird pricing on their Kickstarter campaign. However, do not worry if you miss this as you will still pay as low as $349. You no longer need to worry about paying $15,000 or more for clinical neurofeedback as you can gain access to brain training whenever and wherever you like while staying comfortable. All other conventional indirect methods to train your brain like puzzles, Sudoku, meditation etc. are all focused on strengthening the brain indirectly but Mendi allows you to directly interact with the brain-activity and train it accordingly. Mendi saves you time and money and gives you 100% natural results without any side effects as you carry out real brain training. The purpose of this device, a great alternative to brain training clinics, is to reform your mental health and fitness, by offering peace of mind while strengthening your brain. Although Mendi is a lot cheaper than the private therapist sessions and clinics, it still incorporates a significant amount of investment from the consumer. It also guarantees the money-return policy if someone fails to enjoy the experience. Mendi has been used in clinics around the world, by renowned athletes in sports, in companies like Spotify, Google and WeWork and even schools in Sweden and the U.S.
• #29: Advantages: Low-risk - as Japanese can be hesitant to use the device (something shameful), minimizing risk by exporting, you can test if the demand is sufficient Lower cost - important for young company as mendi, with little financial resources and little investment opportunities in Japan (banks unwilling to grant credits to low companies (source: https://knowledge.wharton.upenn.edu/article/the-entrepreneurship-vacuum-in-japan-why-it-matters-and-how-to-address-it/ ) No need to set up a subsidiary, which can cause legal complications (Japanese law requirements are strict - you need to have at least one Japanese resident as a director source: https://www.japan.doingbusinessguide.co.uk/the-guide/legal/ ) Increase of sales, profit, economies of scale - especially as mendi is born global firm Increase market share. Nowadays, Mendi is set up in 43 nations, where Japan is not included. Therefore, Mendi will have more access to customers and businesses when it starts exporting. Opportunity to penetrate foreign markets without the complexities and risks of more direct exporting – Positive point since Mendi is a born global firm with not high turnover – while prospects of incremental sales. E.g There is no need to invest in building up export infrastructure since the exporting intermediary will already have a developed network and necessary infrastructure. Usually, exporting intermediaries are experienced companies with a lot of knowledge since this is its main activity, thus Mendi will have the opportunity to seek their technical advice whenever necessary. Indirect Exporting has been the Foreign market entry strategy adopted by Mendi. Therefore, they know already how to prosecute this type of strategy Disadvantages: Higher overhead costs, which means less profit for the company: Mendi company may need to consider how to input the product into Japan because of the overhead cost will be a threat. Japan is a new market that is why it will be a challenge for company to consider overhead costs. It may have the risk of less profits. Not fully control the foreign sale: It may cause the loss of control about the revenue to Mendi company. No direct customer contact: Mendi will need to face the drawback about lack of direct customer contact if they want to input the product in Japan. Tracking performance is very difficult for Mendi: Because if Mendi input the product in Japan, sometimes it will be hard to control every transactions remotely.
• #30: Advantages: Low-risk - as Japanese can be hesitant to use the device (something shameful), minimizing risk by exporting, you can test if the demand is sufficient Lower cost - important for young company as mendi, with little financial resources and little investment opportunities in Japan (banks unwilling to grant credits to low companies (source: https://knowledge.wharton.upenn.edu/article/the-entrepreneurship-vacuum-in-japan-why-it-matters-and-how-to-address-it/ ) No need to set up a subsidiary, which can cause legal complications (Japanese law requirements are strict - you need to have at least one Japanese resident as a director source: https://www.japan.doingbusinessguide.co.uk/the-guide/legal/ ) Increase of sales, profit, economies of scale - especially as mendi is born global firm Increase market share. Nowadays, Mendi is set up in 43 nations, where Japan is not included. Therefore, Mendi will have more access to customers and businesses when it starts exporting. Opportunity to penetrate foreign markets without the complexities and risks of more direct exporting – Positive point since Mendi is a born global firm with not high turnover – while prospects of incremental sales. E.g There is no need to invest in building up export infrastructure since the exporting intermediary will already have a developed network and necessary infrastructure. Usually, exporting intermediaries are experienced companies with a lot of knowledge since this is its main activity, thus Mendi will have the opportunity to seek their technical advice whenever necessary. Indirect Exporting has been the Foreign market entry strategy adopted by Mendi. Therefore, they know already how to prosecute this type of strategy Disadvantages: Time consuming to expand the research of oversea customers: New strategy for a new market will take time to research about how the product will be suitable for a new group of customers. Japanese customers are a group of customers who tend to choose products with sustainable value. It will take time for the Mendi company to analyze the characteristics of Japanese customers and prove the benefits of products on the Japanese market. Complete with the other similar product: There are some products with the same type with Mendi in Japan and have the reputation on the market. It will be a challenge to Mendi for proving the advance of products. Depending on the partner: It will be another disadvantage when Mendi needs to build strong connections with partners. Less control over the prices: Mendi will have less control of the products price and how brands and products are represented internationally. Unable to understand the market better: Mendi maybe unable to learn about the market hands-on and can’t develop communication with and understanding of the market trend and consumers.
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