A Guide About China Marketing Strategy

Do you have any idea about China Market? To be truthful very few people have. So, if you have no knowledge or very little knowledge about china market and if you have a wish to launch or develop a business in China, it is absolutely essential to gather some knowledge first before you make any plan to enter china market. 

China has a large and complex market with vast differences prevailing in various locations.  It also has typical features and trends which influence the behavior of huge number consumers in China. Without knowledge about these areas it is impossible to be successful in any business in China. It is also a great challenge for a foreigner to enter the China market for its various critical aspect involving major differences in life style, culture, education level, infrastructure development including varied economic as well as buying power. It is also vitally important to learn about the B2B strategy of China and its changing pattern of consumer behavior.

Therefore if you are a businessman entering China market, the best practice will be to chalk out your China strategy first, which will form the strong foundation of your business marketing. People of China showcase varieties of life style and spending habits, which constantly changes with the change of locations. Hence the first and foremost step to develop your China strategy should be to identify the ideal location for your kind of business.

The next step will be to make a sound idea about the Government Policies and Regulations which is absolutely necessary to be a successful businessman in China market.  Although China government  has relaxed its policies still foreign investment projects are classified into ‘encouraged', ‘restricted' and ‘prohibited' categories. Therefore it would be ideal for you to ascertain all competitive, legal and regulatory advantages or weaknesses in your business marketing.

CHINA - A Saucer Full of Secrets

China has always been a storehouse of possibilities. Chinese market consists of a huge number of prospective buyers with a varied taste and proving worthy to them would mean an enhancement in the business to a greater extent. Industry contributed 46.8 % of GDP and took a portion of 27% of the total workforce in 2007. The figures have undoubtedly risen by 2013 and it is evident from the point now that China is increasing itself. China is now the leading country in terms of chemical, pharmaceuticals and other heavy duty industries.

Various industries are coming in from across the world and they are looking forward to invest in this market. There is basically a huge amount of buyer in this market of china and they are looking forward to quality product and service. It is therefore a price catch for any company to deliver their renditions honestly and the returns in that case will be high enough to bring a smile in their face. 

Real-estate and medicine are the two hottest cakes baked in the Chinese economy as per the surveys of the China industry analysis shows. The world is looking upon as to how to enter this lucrative market but they are not being able to venture properly. The reason being the lack of product knowledge and the idea about the consumers of the country. World leaders are going for direct business to business dealings in China and internet has proved to be one of the major part in building this platform resulting to a number of inter country business linkage.  Big names known to the world are going through the business structures of china and what they expect is what they are getting.

China is a good place to invest but a proper knowledge of the Chinese people is what is needed in order to approach them through to their heart directly.

The Ever-Changing Landscape of Chinese Markets

The market landscape in China is booming, though there has been considerable fall in certain sectors. But this robust economy is not one to back out. The market is undoubtedly unpredictable for international investors who wish to expand their business in China. For years the Chinese economy was riding on the profits from the export oriented economy but currently there is decline in this industry which will again change the market dynamics in the coming years.

Factors Affecting Fall of Chinese Export Industry

·         Global recession

·         Demand for high wages

·         Payment of high taxes

·         High import and export duties

·         High competition from other Asian countries

The Chinese government is now walking on the footsteps of western economies and has turned to consumer spending as a way to recover the failing economy. Recent reports suggest that the spending power of Chinese consumers have increased to a great extent due to higher incomes .Trade experts predict that with e-commerce being introduced into the scene the retail industry will experience 7% growth in the coming years. It already occupies about 6.8% of the economy. 

Current Market Trends in China 

At present the sectors which have experienced deterioration in China include the US retail brands, the manufacturing sector, service industry due to unemployment, fall of capital markets due to lack of capital and reduced foreign investment. Also the food industry is undergoing crisis due to low quality of food being sold.

The sectors which are poised to grow according to market trends analysis are the increasedsocial media marketing for building of brand image, speeding up of public relations services for maximizing brand popularity. Demand for high quality grains have increased in China for animal fodder as wealthy Chinese look out for high quality meats. There will be a high demand for software programmers for building an efficient system of financial transactions for suppliers and consumers. Pharmaceutical industry of China too will grow with more research being done in medicines. Luxury commodity market will have huge sales. 

As China now is a major part of the global economy, people can no longer ignore the preferences of Chinese consumers. Ambitious businesses daring to head out into the Chinese economy should understand its trends to crack the entry code to Chinese consumer markets.