In this issue I am venturing beyond European borders to China, a fast growing marketplace. But starting operations in a new market is not easy.Will you move your own people to the new location or will you start hiring locally? And if you hire locally, how do you attract the best candidates and what do these new recruits expect?
Just before Chinese New Year, I was in a Shanghai sales meeting where the owner of a European company was discussing post-holiday sales projections. The talk was all “new, innovative, out of the box”, but the walk was all about doing the same old thing only bigger and/or cheaper. I’ve been to this rodeo before. Some of the expensive new marketing initiatives put into place 6 months ago were about to whither and die.
As you might have noticed already, we have added some new options and chapters to our redesigned Web site. One of these is the Question and Answer chapter.
When you have a China-related question which you would like to be answered by the visitors of our Web site, simply send an email and we will post it. Or, the other way around, when you know the answer to…
Read the rest of “China Business Q & A” or post a comment >>
By Geoff Light
In recent years, China’s strong middle class has attracted attention from businesses worldwide. Boston Consulting Group (BCG) estimates that there are 25 to 30 million middle-class households in China. BCG also notes that these households don’t seem to be losing momentum. Since 1999, middle-class households have accounted for a steady 36.6 percent of China’s wealth*. If American companies are poised to reach these consumers, both businesses and the U.S. economy will have a lot to gain.
Large, American corporations – such as Wal-Mart and Starbucks – paved the way for other U.S. companies to sell products in China. Most recently, high-end fashion retailers have set up shops in the country. American Fashion Designer Marc Jacobs, for example, has almost the same amount of Marc by Marc Jacobs stores in China as he does in the United States.
Read the rest of “Made in America is Hot in China… So Where is Everybody?” or post a comment
The idea of commissioning market research in China is daunting to most Western companies. It’s a country of over 1.3 billion people with 200 dialects and 57 ethnic groups. To compound the problem, China is not homogeneous. The larger cities contain educated, Internet-savvy people who earn incomes comparable to U.S. citizens. On the other end of the spectrum, there are people living in villages who survive on $400 a year. If you ask a survey question to both groups, you are likely to get vastly different answers.
Read the rest of “Develop your social capital” or post a comment >>
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