1. DEXIBIT BUSINESS REPORT
UNDERSTANDING CHINA : DEXIBIT’S PLAN TO ENTER CHINA’S MARKET

2. This report is commissioned to examine the possibility
of expanding DEXIBIT’s current market and help to for-
mulate appropriate marketing strategies that can be
applied in China in the future. The report indicates that
entering china’s market is a lucrative deal for DEXIBIT.
China as an emerging economy in the Asia pacific re-
gion has currently drawn a great deal of attention from
both domestic investor and foreign investors. With an
expected growth of 7.0% in the fourth quarter, China
has been experiencing a slowdown, the lowest one
within the last six years (Euromonitor, 2015). As a part
of future forecast, 70.9% of china total population will
have access to the internet, meaning that almost a bil-
lion population will at the very least engage in an on-
line platform.
Further investigation reveals that in a very specific in-
dustry such as tourism with a sub categories of muse-
um and art gallery exhibition, the performance showed
a mixed result. On one hand, Museums in china are at-
tracting more visitors, but in terms of revenue streams,
the trend seems to be declining overtime. On the other
Contents
hand, art gallery exhibition regains its foothold by
attracting more visitors in the upcoming years. All
calculations however, can be found in the appen-
dices below.
DEXIBIT, as an aspiring company in providing digi-
tal enablement to museum, art gallery exhibitions
and cultural heritages, is currently seeking out the
opportunity to establish a new market by expand-
ing to China. The initial suggestions shows that
with existing resources they have, it does present
some challenges including but not limiting to use
of agent, mode of entry, bigger cost structure and
competitors presence in china.
The report at some points also exhibits some of
its limitation. All the strategies described here are
solely based on the general assumption that the
market is constant. Furthermore, although the
data are valid, it would not be wise to generalize
the strategy outside the scope of the market we
already researched on.
Executive Summary
Executive Summary 2
1. External Analysis 3
1.1 Why China 3
1.1.1 Challenges 3
1.1.2 Guanxi 4
1.1.3 Media Censorship 4
1.1.4 Intellectual Property 4
1.1.5 Cybersecurity Law 4
1.2 Industry Analysis 5
1.2.1 Digital Technology 5
1.2.2 Tourism in China 5
1.2.3 Museum Industry 5
1.3 Shanghai 6
1.3.1 Heart of The Nation 6
1.3.2 End-Users Concentration 6
1.4 Competition Landscape 7
1.4.1 Competitiors Profile 7
1.5 Maximizer 8
1.5.1 Experience Level 8
1.5.2 Price Sensitivity 8
1.5.3 Visiting Frequency 9
1.5.4 Age Matters 9
1.6 Expansion Strategy 10
1.6.1 Marketing & Sales Agents 10
1.6.2 Manufacturing Agents 10
1.7 Establishing Network 11
1.7.1 Advantages & Disadvantages 11
1.7.2 Conducting Business 11
1.8 Financial Model 12
1.8.1 Cost Structure 12
1.82 Revenue Projection 13
1.9 Further Actions 14
1.9.1 Recommendations (1) 14
1.9.2 Recommendations (2) 15
References 16
Appendix 19

3. Why China
Strong Economic
Growth
China has main-
tained strong economic
growth in recent years,
with average GDP growth
of 10.22% during 2004-13.
The economic fundamen-
tals of the country are ro-
bust with the indicator of
a strong economic growth
for the past three decades.
China’s strong external po-
sition is evident from its vast
foreign exchange reserves.
With strong economic fun-
damentals, China has sig-
nificant market potential for
foreign companies like DEX-
IBIT to invest.
Foreign Direct
Investment
China surpassed the
US and became the largest
recipient of foreign direct in-
vestment (FDI) in the world
in 2014. China only attracted
$40.71 billion FDI in 2000 but
the country had attracted FDI
inflows worth $128.5 billion in
2014.Moreimportantly,Anin-
crease of FDI inflow in 2014
was mainly in services sec-
tor especially retail, trans-
port and finance. Therefore,
it is a good news for DEXIBIT
since the service industry is
booming in China.
Bullish Service
Sector
The service sec-
tor of China contribute to
43.67% of the country’s
GDP in 2014, which makes
service sector accounted
for the large part of china’s
output. Also, service sector
had been increasing rapid-
ly from 2010 to 2014. More-
over, a significant number
of services sector compa-
nies are stepping into the
market to satisfy consumer
needs. Under such circum-
stance, it is recommend-
ed that DEXIBIT grabs the
chance and enter Chinese
market.
Mobile and Internet
Penetration
Mobile penetration
stood at 97.85 per 100 peo-
ple in 2014 with the country
having 1.33 billion mobile
subscriptions. Additionally,
China’s internet-connected
populationtotaled613.55mil-
lion at the end of 2013 which
counted for 45.1% of the pop-
ulation. Although, Broad-
band services are mostly
restricted to the commer-
cial segment, the trend is
undergoing a change since
more and more residential
customers are opting for
these services
10.22%
$128.5
Billion
43.67%
of GDP
1.33
Billion
Why China

4. Although, China is a promising country for the business people to set up their own business or to
expand their current market operation. China on the other hand, is still a developing country.By
this, government intervention is still prevalent in harnessing industries within the territory. Of so
many challanges that we identified so far, DEXIBIT need to take a closer attention at Guanxi-based
business relations, high restriction on foreign direct investment, Weak intellectual property rights
enforcement, upcoming new cybersecurity law and other challenges.The following paragraph will
discus how these challanges are addressed properly.
According to Silvia and Simone (2015), Guanxi
practice is deeply entrenched in Chinese culture. Es-
sentially, Guanxi means a utilitarian capital: the ex-
changes of favors enable individuals to achieve per-
sonal advantages (Lee and Ellis, 2000).
Therefore, it is recommended that DEXIBIT
should nurture and maintain Guanxi in China, espe-
cially with the local agents. In the meantime, having
a good relationship with the local and central govern-
ment is also essential to the success of the business in
the long term.
This report highly advises for any company to
treat government as an ally. One obvious example
came from the case of Air New Zealand. According to
New Zealand Trade and Enterprise (2015), during the
process of building up Auckland-Shanghai air service,
Air New Zealand gained credibility and support from
lower levels of the bureaucracy and stakeholders from
low level of management. As such, building a network
with top executive levels became much easier
GUANXI AND CULTURAL
BARRIER
China’s product market regulation is still way
above other BRICS nations. Liberalization and deregu-
lation have been slow in almost all areas. Figure 7 (see
appendix) illustrates 2014 FDI Regulatory Restrictive-
ness Index. China is identified as the most restrictive
nation among its BRICS counterparts.
In a similar vein, Internet censorship is com-
mon practice done by the Chinese government. This
preventive action is taken to ensure that none of the
many sensitive topics are allowed to be discussed
publicly.
FDI RESTRICTION
AND MEDIA CENCORCSHIP
China famously has a very weak record of in-
tellectual property rights (IPR) protection. Intellectual
property in China has been merely imitative rather
than being innovative, and the enforcement of IPR is
ineffective. In fact, China's poor IPR practices resulted
in China been added to the United States Trade Rep-
resentative (USTR)'s Priority Watch List, which is the
category for US trading partners with the most seri-
ous IPR violations in 2014 by the International Intel-
lectual Property Alliance (IIPA).
Piracy is widely prevalent in music, films, tele-
vision programming, books and journals, software
and other copyrighted products. (MarketLine, 2015)
Furthermore, many Chinese illegal intellectual com-
panies just directly duplicate trendy products. Since
imitation is the main actions for most Shan Zhai com-
panies, that is to say, DEXIBIT might be duplicate ille-
gally in China when it gain high brand awareness and
market and DEXIBIT should be ready for it. (Feng & Li,
2011)
INTELLECTUAL
PROPERTY
CYCBERSECURITY
LAW
According to the Fortune magazine (2015),
China is drafting a law that requires organizations es-
pecially Internet service providers (ISP) to store data
that have been collected domestically in China.
Fortune believes the new cybersecurity law will
increase barriers for foreign companies to do business
in China. Therefore, it serves as a precaution for DEXIB-
IT not to take this matter lightly. Alternatively, DEXIBIT
could store their data in the reliable agents
Challanges Challanges
“Cybersecurity is a shared
responsibility”

5. Digital Landscape
The digital trend, in terms of internet subscribers, reaches out to 198 million subscribers
in 2013, a slightly greater than European subscribers. While the data seems convincing
since China has a much larger population, the e-commerce-driven activity only accounts
for less than 50% as to the US market by now. By this, China's digital trend has set to out-
pace in the near foreseeable future (Euromonitor, 2015)
INTERNET
SUBSCRIBER
TELECOMMUNICATION
INDUSTRY
INTERNET USER
BASE
China is a global lead-
er in mobile and inter-
net subscribers with a
total of more than 380
million subscribers.
The trend becomes ap-
parent among middle
youth who aspires to
be a tech savvy.
Telecommunication in-
dustries are heavily in-
vesting in 4G network
and fibre-optic and at
the same time, smart-
phone sales hit 350 mil-
lion units in 2015, and
it is expected to grow
rapidly.
Massive internet
user base drives rap-
id growth in e-com-
merce. Total sales
generated from using
online platforms as a
market place accounts
for as much as USD 9.1
Billion in profit.
“An Art Book is A Museum
Without Wall”
Museum
Overview
• 3660 museums in China
• 190 new museums each year
• 400,000 visitors for each museum in ratio
• 400,000,000 visitors every year
• CNY 41,000,000 in total revenue
Why Shanghai
Heart of The Nation
The tourism outlook in Shanghai holds a great deal
of opportunities to exploit. With an average dispos-
able income of the population around 80,000 Yuan
(USD 12,604), Shanghai can be considered as a city
where the heart of economic activities occurs.
Shanghai can also host and handle both national and
international events at the same time (Euromonitor,
2014). A sharp increase of 64% in Shanghai tourism
proves to be the indicator how attractive the city is.
In summary, Shanghai’s long term potential remains
strong in the tourism sector.
End-Users Consentration
Although the number of museum visitors in Shang-
hai is far less superior to other cities such as Jiangxi,
Sichuan and Hunan, Shanghai is still a home for
more than 7,000 billionaires
The city is also drawing a great deal of attention
where students across China are spending their
holiday in (Customer Segment Research, 2015).
Based on the data above we can say that the cus-
tomer target for end customers are concentrated in
Shanghai (The Power of Proximity, 2011).

6. End-Users Profile
ATTITUDE
PROFILE
BEHAVIOUR
PROFILE
DEMOGRAPHIC
PROFILE
Maximizer
Tech Savvy
Artist
Educated People
Insensitive to Price
Change
Most Receptive to
Museum Apps
Sensitive to Price
Change
Higher Value on
Functionality
Enjoy Museum Expe-
rience Online
Visiting Frequency is
High
Museum as a Source
of Inspiration
Visiting Frequency is
Low
Moderate to High
Purchasing Power
Low to Moderate
Purchasing Power
Moderate Purchas-
ing Power
Moderate to High
Purchasing Power
Competition Landscape
The report identifies several competitiors in the related market, these competitiors however
are mostly based outside China. Based on the intial report, we are able to identify four companies.
the competitive landscape can be classified into several categories. The first category is a company
that is predominantly based in New Zealand. The second category is companies that are considered
as a big and stable company, generating more than USD 100 million. The third category is a a com-
pany that actuallty resembles DEXIBIT in terms of its business model and is still growing within the
China’s territory.
Story, in particular, is a startup company com-
peting on a similar platform as DEXIBIT is. Story is a
New Zealand based company and has been operating
for a couple of years. The company offers a wide array
of mobile applications that helps museums, art ex-
hibition, and cultural heritage exhibition to enhance
their customer experience. By offering an interactive
platform that is able to cater a real-time analytics, the
company aims to target not only the museum manage-
ment team but also attempts to engage directly with
the end customers.
Adage is a global leader in providing interactive
application for museum and art exhibition. The US-
based company mainly operates in the domain of web
customization, web design and mobile website applica-
tion. As per current market, they have been generating
for more than $286 Million in revenue resulting from
partnership and their e-commerce platform. However,
Adage does not directly compete on business analytic
platform.
MyOrpheo is founded in 1992 in the US and has
been installing their mobile application for more than
1,000 sites ranging from museums, art exhibitions and
also cultural heritages. With a focus on maintaining a
high quality level of service, MyOrpheo emphasizes
their operation in catering mobile and web application
as well as data analytic application. Although, the com-
pany’s branch is situated across cities, MyOrpheo has
not decided to enter the china’s market yet.
Muti-prism is a Chinese-based company that
creates mobile and web application designated for
museums, art galleries, and cultural heritage as well. It
was founded in 2012 and has been awarded as the best
technology based company for museum by Chinese
association of museum. The service they offer includes
beacon installation, designing a creative museum appli-
cation and additional service such as data analytic.

7. Maximizer Maximizer
Prefer the utmost immersive museum and gallery experience
Extravagant and high-quality lifestyle.
Insensitive to price
High Purchasing Power
Visiting Frequency: Moderate to High
Middle to Upper class
Average age: 30 to mid 40
Education level: College Grads Above
Behavior
Attitude
Purchasing
Power
Price
Sensitive
EXPERIENCE
LEVEL
PRICE
SENSITIVITY
Bringing museum experience to the
utmost is a requirement to keep the customer
engaged. Maximizers are seen as potential cus-
tomers that both have the tendency to enjoy
the museum and the tendency to justify their
social class.
According to the report (Magni and Poh, 2013),
capturing immersive experience for this end-us-
ers requires tech-enabled customer engage-
ment. This can be achieved through using an
online mobile platform where simplicity is the
key driver to its success.
Of all the challenges that the chinese
middle class presents to marketers, understand-
ing the specific needs and purchasing power of
the group is of utmost importance. Middle class
consumers have rising purchasing power and
are increasingly willing to pay more for higher
quality, brand names, and differentiated fea-
tures (Song and Cui, 2009)
Chinese middle income class is less price sensi-
tive compared with any other classes under the
same category. However, one must understand
that putting the right pricetag still matters.
VISITING
FREQUENCY
AGE
MATTERS
This affluent type customers are by far
more likely to be enjoying museums frequently
as opposed to tech savvy and educated people.
The similar traits with artists but have more dis-
posable income at hand can be an advantage to
the museum and exhibition owner.
It is also understandable that 23% of this end
user (Maximizer) spends their time doing out-
door activities. These outdoor activities, as the
report suggests is a way for this end user seg-
ment to find a gateaway from the workplace.
Middle income class in Beijing aged
between 30s to mid 40s (Euromonitor, 2015).
Recent data shows that this class category is
accustomed to using social-media platform as
a means of communication and e-commerce
place.
To be more precise, 66.4% of the total middle
youth class are currently using WeChat as the
most popular social media. The data demon-
strate a promising customer target in relation to
digital trend (Euromonitor, 2015)

8. Mode of Entry
The chance of being a hit in China depends on how DEXIBIT builds upon their relation-
ship with the existing business entities in China. For this part, we'd like to focus on the creation of
channels in China. New Zealand Trade and Enterprise stringly recommends that partnering with
local agents ensure the easiness of making the initial contact of establishing market presence. local
agents in relation to DEXIBIT’s current business model can be divided into two different partner-
ship. sales and distribution agents and manufacturing agents.
Sales 01
Marketing agents
Manufacture 02
Museums 03
End-users 04
Hard-wares
Promotion
APP
MARKETING AND SALES
AGENTS
This kind of local part-
ners helps DEXIBIT to target
the market in Shanghai easily.
it’s a quick way to bypass local
culture.
We suggest that going
to partner with local partners
would be the most feasible
way to conduct business.
Their primary job is to ensure
that the devices can be sold to
various museums and art gal-
lery venues.
MANUFACTURING
AGENTS
This kind of partnership seeks
out the possibility of provid-
ing reliable hardware manu-
facturers in China.
Foxconn as the leading tech-
nology manufacturer in China
serves as a good starting point
to create a mutual partnership
with. It also allows to drive the
cost structure down as the
company does not necessarily
have to outsource their prod-
uct from Europe.
Establishing Network
New Zealand trade and enterprise strongly suggests all the New Zealand companies need to do re-
search first and then physically visit the market to build connections and look for face to face advice
and information from different sources before making any decisions on how to enter the Chinese
market. (New Zealand Trade & Enterprise, 2015). Nevertheless, the use of agents as it has been pre-
viously stated before posesses several advantages and disadvantages as well.
LOCAL AGENTS
ADVANTAGES DISADVANTAGES
• Agents have the right to claim a large amount of
compensation when the agency agreement about
to finish
• Double taxation might happen, should take local
law into consideration
• it’s very costly to manage stock inventory
• Agents are usually not exclusive, they might also
sell similar products which have to be controlled.
• Overpromising— a key lesson that many Kiwi com-
panies learnt was many Chinese agents will exag-
gerate their ability
• Raising your costs and selling price
• Reducing your control over sales and
marketing
• Potentially increasing the risk of your
product being counterfeited.
• Data are not allowed to take out from
China
• Partners potentially become rivals once
they understand how the business works
CONDUCTING BUSINESS
DEXIBIT needs to assign the selected local agent to promote the products
to the three museums in Shanghai. As soon as the negotiation is wrapped
up, provide relevant training to DEXIBIT’s key partners.
STEP 1
STEP 2 We identify three potential clients to be targeting for the initial phase, of
three clients are Shanghai National Museum, Shanghai National Mu-
seum of Art and Shanghai Urban Planning Exhibition Center
STEP 3
STEP 4 Once the hardware equipment is installed. Encourage the three muse-
ums to promote the software application using several channels to the
end users.
Beacons andWifi Markers need to be manufactured at the predetermined
local manufacturing agents. Ship the equipment to the museum and in-
stall all the devices afterwards.

9. Cost Structure Revenue Projection
The following information will provide an overview of a possible annual income the company
can generate from selling their products that include hardware sales (Beacons and WiFi Mark-
ers), monthly subscription fee, consulting service, business analytic software as well as its sub-
scription fee
Revenue Stream 2016 2017 2018
Hardware Sales
Beacon
Tough Beacon
Wifi Marker
Business Analytic
Software
Annual Subscription
(Beacon and Markers)
Consulting Service
$48,510
$64,680
$368,676
$36,000
N/A
$125,760
$53,361
$71,148
$405,543
$39,600
N/A
$138,336
$58,697
$78,262
$446,097
$43,560
N/A
$152,169
The first assumptions are the calculation regarding the beacon sales, tough beacon sales and Wi-Fi marker
sales.The revenue generated from selling the hardware can be obtained using complex calculation including
museum spaces and number of targeted museum in the first year.
The second assumption is the annual subscription of business analytic software. So far, we are unable to get
the average annual subscription fee for this revenue stream. Due to the nature of the business analytic soft-
ware that requires massive customization, we used $300/Annum for the annual subscription fee.
The third assumption is the fee imposed by providing consulting service. Considering that DEXIBIT is a rel-
atively new player in the industry, we decide to charge the client as much as $80/hour for the consulting
service and multiply it by 262 weekdays in a year.
The fourth assumption is the market growth rate that stands at 10% market growth rate annually.
Total Revenue $778,787$707,908$643,626
REVENUE ASSUMPTIONS
Expenses 2016 2017 2018
COGS
Employee
Salary
Marketing
Campaign
Other
Expenses
$153,137
$51,490
$35,399
$153,137 $153,137
Total Expenses $468,513
$231,705
$56,639 $62,303
The first assumption the calculation regarding the COGS (Cost of Good Sold), our assumption on this matter is
based on the average industry COGS which is around 36%.
The second assumption is calculating the employees salary. We divided the job position into four category. ac-
countant, IT Developer, marketer and administration staff. All of them are paid in Yuan instead of New Zealand
dollar.The average salary for the calculation is taken from the average Shanghai people earn for each job position.
The third assumption is the marketing campaign and other expenses. the calculations shown up in the table are
gleaned by using the assumption of 8% and 5% of the revenue generated in the same year. Nevertheless, it’s up to
the management whether the marketing expenses should increase every year or remain the same.
The fourth assumption is the currency that is being used here. The currency rate for all the calculations, both ex-
penses and revenue streams is (1 NZD = 4.15 CNY)
EXPENSES ASSUMPTIONS
The discussion abouth how the cost structured is devised once DEXIBIT decide to enter the
China’s market is as follows. However, the cost structure as described below is far from flawless.
Thus, it’s important for the management to read thoroughly what assumptions that are being
used to explain the model.
$254,875 $280,363
$38,939$32,181
$500,005 $534,742

10. Recommendations
1
2
3
The need to formulate a posi-
tive marketing campaign is undoubt-
edly required to create positive cus-
tomer relationship both with the
direct customers (Museum, Art Gal-
leries, and Cultural Heritage) and with
the targeted customer segments.
MARKETING CAMPAIGN
Finding key partners that are
reliable and provides with superior
product quality is a must for DEXIBIT
to ensure that their revenue streams
keep flowing. The partnership com-
prises finding the right hardware
manufacturers and finding the right
local agents.
FINDING OUT RELIABLE
PARTNERS
Increased competition among this
market should not be taken lightly.
That said, even though none of the
competitors we already identified
have technically competed on the
same offering, DEXIBIT should move
swiftly to capture critical components
of the business model. This includes
establishing vertical integration
across suppliers and local agents to
prevent the competitors from crowd-
ing in the market.
VERTICAL INTEGRATION
4
5
6
Guanxi and its complexity in
building relationship could be a real
obstacle in the process. Thus, it is bad-
ly advised for DEXIBIT to utilize the
gatekeeper as individuals who are
able to ease two ways of communica-
tion.
USING GATEKEEPERS
Focusing on the scope of Art Galleries
and Exhibition will nurture relation-
ship. However, it can only be done
through harnessing relationship with
local talents (photographers, artists,
and designer enthusiast).
COLLABORATING WITH TALENTS
WeChat, as the most popular
social media platform, would provide
DEXIBITaspacetopromotetheirprod-
uct using their QR scanning feature. It
does not have to be a big collabora-
tion, but it is worthwhile to consider
having a partnership with WeChat.
WECHAT AS PARTNER
Recommendations

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Figure 3 FDI inflows in China, 2004-14 (Marketline, 2015) Figure 4 GDP composition by sector in China,
2014 (Marketline, 2015)
Appendices
Figure1.theNationalBureauofStatisticsofChina(2015) Figure 2 GDP & Growth Rate in China, 2009-19 (Market-
line, 2015)

13. Figure 5 Service Output in China (Marketline, 2015) Figure 6 Internet Users In China (Marketline,2015)
Figure 7 FDI Regulatory Restrictiveness Index, 2014
(Marketline, 2015)
Figure 11 Sector Wise FDI Restrictiveness In
China, 2014 (Marketline,2015)
Appendices Appendices