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Marketing In China Essay

877 words - 4 pages

“Marketing in the 21st century will be of paramount importance to the continuing development and growth of China. In order to continue the prosperous growth into the future survival and growth of companies in China, there is a need to adopt and embrace a marketing philosophy”.

China’s participation in the World Trade Organization (WTO) since 2001 has boosted its economic growth and accelerated its legal reformation. Multinationals, thus, have gained confident to invest in China, resulting in rapid increase in foreign investment and made China as one of the largest foreign investment destinations in the world. The country’s WTO accession makes it an irreversible trend to integrate its ...view middle of the document...

The broad philosophies above convey the importance of product and service differentiation in achieving success in the competitive and fast-developing business environment in China. “Made in China” products are deemed as products of low quality and poor performance. Hence, putting back the faith into consumers of the products’ performance and conformance quality is one of the primary objectives of the marketers. Value adding services like speedy and care attending delivery is yet another dimension the companies should foster on. Quality of product and service together form the core platform of customer’s perception towards a company, which in turn determines the level of customer satisfaction. Satisfied and delighted customers are keys for successful business. In addition, the need for branding rockets in the recent years as companies generally realized that branded products typically fetches a price premium and sells better than non-branded alternatives (even for farm products). Thus, as a trend, companies should work on developing its own brand and take advantage on brand equity to build and maintenance customer loyalty. Integrated marketing communications can contribute to brand equity by creating brand awareness and crafting a brand image. However, consumers in China are bombarded with hundreds of advertisements everyday. Hence, it is necessary for companies to measure its advertising efficiency, to ensure the money spent on promotion is valued and that companies are giving themselves a clear product positioning in consumers’ mind.

China is a gigantic and developing country, companies have to design carefully the channel networks that are suitable to their mode of operations and help to distribute their products or services most effectively, taking into consideration the fact that some parts of the country have underdeveloped infrastructure, consumer lifestyle may vary significantly within the territory among different regions and how it is changing with the economic development....

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