marketing to the new china consumer
DESCRIPTION
Overview of results from a WFA / Forbes Insights research presented at Global Advertiser Week in Beijing, April 2011. Presentation by Stephan Loerke (WFA) and Christiaan Rizy (Forbes Insights). See speaker notes for detail.TRANSCRIPT
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Marketing to the new China consumer
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Consumer % of GDP 36%
71%
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The World’s largest consumer market by 2020
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300 of the best marketing brains in China share…
• Future goals• Consumer strategies• Barriers to overcome
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World to China, China to the World
• Global brands adapt to China
• Chinese brands go global
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Some challenges on the way…
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WFA & Forbes Insights study
Doing business in the new China
www.forbes.com/forbesinsights
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Growth from tier 2, 3, 4 cities
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Account for local preferences…
Companies unwilling to change their brands will not succeed in China
Stronly agree, 24%
Disagree, 27%
Strongly disagree
, 6%
Agree, 43%
63% say “We will extend our global brand to the Chinese market, but will change the attributes for China”
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Platforms today and tomorrow
How important is mobile marketing to reaching Chinese consumers?
43%61%
36%
43%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Today In 3 years
Veryimportant
Extremelyimportant
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Finding and retaining talent
Where do/ will Chinese companies hire their marketing
leaders from
83%
59%
41%
17%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Today In 3years
Non-ChineseNationals
ChineseNationals
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Reliable market research
37% believe there is not enough reliable research on Chinese consumer demand
Perceptions of market research providers' performance in China?
Poor 10%
Neutral 32%
Excellent 20%
Terrible 1%
Good 38%
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Improve accountability
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Ethics in advertising
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You are not alone
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Download the full report here: www.forbes.com/forbesinsights
More about the WFA here: www.wfanet.org