How to Succeed in China: Brand Secrets

Posted in the Chicago Forum

Pravda

Tampa, FL

#1 Aug 8, 2013
The main goal of big brands tired of the sluggish North American and European economy is a large number of Chinese consumers representing the middle class. Which companies were able to achieve success in this fight for the market share? Research company Millward Brown studied the history of the 20 most powerful foreign brands in China and summed up the secrets of their success.

In the period between 2011 and 2013 Millward Brown surveyed nearly 60,000 people and conducted interviews with consumers in ten Chinese cities. Out of the top 20 brands, 13 were American, two German and French, one Italian, one Anglo-Dutch (Unilever) and one - a representative of South Korea (Samsung).

Foreign companies have plenty of opportunities for development in China. Despite the fact that price is the decisive factor for the Chinese consumer, because of rising living standards and falling confidence in the Chinese brands, more people are bringing their money to western companies. A representative of Millward Brown Peter Walsh said that the study showed that over the past three years, the credibility of the Chinese brands has dramatically decreased. This is a good opportunity for international brands to make a move as consumers begin to appreciate the quality and experience of the producers as much as the low cost of goods.

http://english.pravda.ru/business/companies/0...

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