Marketing
Issue No. 30 - August/September 2006
Take a fast boat to China
Marketing Week 2006
by Mr Bob Shepard
For many years now, China has been growing at an annual rate which is the envy of most countries.
In the early stages of this growth spurt, about 10 years ago, many economists said the figures were being overstated, because in a command economy, very little information is made public and the data that is released is often "glossy".
Well there is no doubt now that the economy in China has enviable growth rates, that they will continue for some years and that by and large, the growth has been quite well managed.
I suggest that for those who seek to capitalise on market opportunities in China, the fast boat had better be nothing less than a powerful speed boat.
I say this because of the basic rule, "first in best dressed".
Some of those who were first in were burnt, because they were a little too eager. There are several big Australian company names which poured in large quantities of money only to exit with their tails between their legs.
There is a good motor racing term which fits: a DNF means "did not finish".
The panellists who will join me in our event during Marketing Week 2006 have excellent global marketing experience and we all manage our own businesses. We have won and lost battles during 10 years or more of successful operations.
What do we know that will help you avoid the 'fools rush in' mistakes? What marketing tips can we offer that would have good application in China?
As with any country, the first step in a successful campaign is to know your market - that means economically, culturally and geographically.
The supercharged economic side I have described above. But having some understanding of both the business and the national culture is vital if you want to join in the race and win.
Let's look at some of the basics. It a truism that: "Australians trust everyone until they find they have been deceived. Chinese mistrust everyone until they have proved the...
