Develop a Pricing Strategy
A Chinese MD I know recently met with a potential buyer from overseas, and called me with a question. The MD had explained his product offering, and then quoted the potential buyer a price. The buyer merely nodded his head and said, “Ok, I understand”. The Chinese MD, however, had expected the prospect to come back with a counter-offer or a new proposal. Instead, the overseas buyer merely asked a few polite questions about the industry, said goodbye, and left. The client was never heard from again.
Read this article on Pricing Strategy and avoiding bargaining with Chinese businessmen. In the Chinese Market your first offer counts - you may well not be given a second chance!