MARKETING IN CHINA
Marketing is a discipline dedicated to analyzing the behavior of markets and consumers. It aims to capture, to inspire loyalty and to retain customers by satisfying their needs. It is difficult to gather information on this discipline in China as many publications are based on opinions. The essential requirement when doing business in China is to build trust, as this is the basis of any relationship. The biggest challenge is to expand the market and control regulations.
China has a population of 1.4 billion Chinese, more than three times the population of the USA. It has numerous companies, great dispersion of the population and different interests.
It’s important to know that the per capita GPD is calculated according to future forecasts, indicating what China wants in the future, rather than the present data. Further, it’s not representative of reality because of the great social differences. Wealth is concentrated in a small number of people.
The market is monopolistic, and WeChat is a tool used by everyone, which allows you to pay, to sell, to share information… anything.
Currently the most powerful market sectors in growth are finance and technology.
As for the strategy, it’s important to be clear what the Chinese want. It’s said that in China the child of the family has six pockets: those of their parents, their grandparents, great grandparents and uncles, since the affection and love to the Children is manifested through gifts. The market wants to pamper children, with good quality products, because they love anything cute like advertisements with children surrounded by cakes, milkshakes, donuts… the opposite of Europe. On the other hand, it’s important not to enter into sexual and political issues, as they are taboo.
As for the Marketing Mix, it analyzes four basic variables of its activity: product, price, distribution and promotion. Chinese websites are very unattractive since they communicate in writing in three directions: from left to right, vice versa, and from bottom to top. In order to attract attention, look for the best way to take advantage of the space. Radio and television are controlled by the State so it’s very difficult to access them, and they are specialized in Chinese products and technology, although the younger people don’t like it since they don’t trust the information that radio and television provides them. Instead, they use WeChat, and they pay close attention to the rumors.
Chinese love Disney movies and everything American, typical parties like Valentine’s or Halloween.
The future lies in knowing the consumer, their preferences and constantly innovating.
Carmen Carbonell Rodríguez-Viñals.
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16 Mar 2017
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ccarbonell
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