Singapore, Apr 24 (PTI) Calling cultural intelligence a competitive advantage, an Indian-origin Singaporean business executive and author on Friday said traders from India, China and Japan venturing into Southeast Asian markets can blend their deal approaches as local among regional consumers.
Dinesh Singh, vice-president of business development (APAC) at FinTech firm FundCount, has sought to blend cultural insight from his over three decade career across Asia with practical strategies in his new book.
A large community of Indian businesses are settled in the Southeast Asian region with historical links to India, he observed and said, his book shows how something as simple as a greeting can shape first impressions and, ultimately, business outcomes, among businesses in the region.
“Businesses from India, China and Japan venturing into the prospering Southeast Asian markets of over 600 million people who could blend their deal approaches and be 'local' among regional consumers, manufacturers and resource producers where person-to-person sensitivities are of highest consideration,” Singh told PTI.
A graduate of the University of Oregon, where he majored in finance and marketing, Singh, 56, has worked across industries, including film distribution, property leasing, brand marketing and product development.
His book 'Asia Sales Mastery' blends “cultural insight with practical strategy,” and showcases how “customs vary from country to country, and understanding these nuances is crucial” for navigating Southeast Asia’s diverse business landscape.
Referring to how the book would serve the Indian enterprises focused on Southeast Asia, Singh pointed out that cultural intelligence is not a “soft skill” but a competitive advantage in diverse markets like India.
Giving examples from across China and Singapore among other places, Singh said, in many parts of Asia, even a minor cultural mis-step or perceived slight can derail a deal, regardless of how excellent the product or service may be.
The author said he has presented a wide range of case studies, from marketing halal food products in Malaysia to delivering renewable energy solutions to Indonesian corporations and draws on practical, ground-level examples, ranging from selling insurance and luxury real estate to Filipino families and promoting agricultural products in rural Vietnam.
“These demonstrate how sales strategies must be adapted to the local context,” he added.