The presentation takes a broad historical perspective in identifying the key tension felt by Chinese men, who are confronted with the challenge of attaining a sense of achievement in an era where routes to success are increasingly fragmented. From there derive light-hearted yet insightful strategic implications for marketers and advertisers, illustrated with a series of video and commercials.
The Chinese luxury market, huge and poised to splurge, is mouth-watering for any luxury label. Just when multinational corporations have become more skillful in navigating the operational hurdles of the Middle Kingdom, talk has turned to a new threat: Chinese Brands. They are increasingly low-priced, high-quality, locally-attuned, and operationally-savvy.
Nimble competitors are appearing in every corner of the competitive battlefield — mobile phones, appliances, televisions, insurance, autos and an infinite number of hair care, health and food products…. But questions remain. How powerful are local players? How deep is their brand equity? Most marketers within multinational companies MNCs arrived in China with preconceived notions about the relevance and role of their brands in the lives of Chinese consumers.
Although the economies of scales that spring from a cohesive and consistent global brand architecture are critical drivers of in-market success, the bias can be suicidal to dreams of making it big in China. Global brands must be adapted to the unique world view of denizens of the Middle Kingdom and reflect the insights that drive behavior and preference.
The brand landscape is still being shaped. But to develop powerful brand equity, an in-depth understanding of key targets is essential. Due to her skyrocketing purchase power, the young Chinese woman is one of the most promising segments — and one of the most challenging. But the mindset of Chinese women is even more nuanced. As the country modernizes economically and socially, the balance — no, the pull — between competing aspirations and societal expectations is extraordinarily daunting for women.
And enlightening to marketers. And they apply that empathy in breakthrough communications and advertising. The long-term goal: enhancing product loyalty and increasing corporate profitability. Chinese youth are intoxicated by a new digital universe. On balance, the latter maintain a more functional relationship with the web, mobile et al while the former are maintaining deep emotional engagement.
The central role of wealthy Chinese in the global luxury market
Today, a few brands have started to harness the emotional power of the digital universe, but not many. By , there will be over million Mainland Chinese individuals, up from million in , over the age of They will boast increasing incomes and affinity towards brands. Most multinational companies and local enterprises around counting on the growth of lower tier markets to achieve their ambitions for scale in China.
This raises the critical questions of what motivates consumers outside the glittering coastal capitals. Arethey fundamentally different than their first-tier brethren or simply at anearlier stage of brand familiarity? At the same time, their eyes are opening to the possibilities of the new world andcrave advancement. In a lively case-filled presentation, we will explore how brand messages differ depending on economic and developmental circumstances.
At the same, we explore the on-the-ground operational imperatives of getting it right in cities that, until recently, have been ignored by many marketers.
Biography - Tom Doctoroff
But how much of this change represents a lasting rejection of Chinese values? And do marketers need to throw away the rule book for touching the hearts of new youth? In a lively case-filled presentation, Tom outlines his findings on the fundamental motivations of one of the least understood segments in the world. In doing so, he provides insights that brands have leveraged to successfully generate lasting profit in Mainland China. View Now. Official Torchbearer for the Beijing Olympics. Who Am I? The psychology of consumers in emerging markets is distinct from their counterparts in developed nations.
This does not discount the importance of cultural factors in shaping buying behavior. Institutions designed to protect the political and economic and interests of consumers — for example, independent judiciaries and reliable social welfare schemes — are relatively immature in emerging markets. People are less vested in having a civil society, and they seldom take safety—physical, emotional, and societal—for granted.
In this lecture, we outline how consumer commonalities lead to a number of crucial strategic imperatives.
Luxury in China: Goldmine or Minefield? Speaking Previous Next Close. Nimble competitors are appearing in every corner of the competitive battlefield — mobile phones, appliances, televisions, insurance, autos and an infinite number of hair care, health and food products… But questions remain.
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Tom in the Media. But the Chinese are different. The same rules do not apply. As a result, Doctoroff will delve into the psyches of contemporary Chinese consumers for the reader to explain the importance of culture in shaping buying decisions. He uncovers the core drivers of behaviour and preference in key market segments, provides tools to help readers harness the power of insight into consumers' fundamental motivations in the Chinese marketplace, and, lastly, reveals the pitfalls into which many multinational competitors often fall.
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