Consider, you are going to expand your business to a fast-growing and increasingly dynamic market, with 1.4 billion potential customers who are anxious to enjoy the rising wealth. While highly excited about the great business opportunity, you may probably ask yourself “What is much valued by Chinese consumers? What are the factors influencing their underlying values?”
To explore the value perspective of Chinese consumers, we need to take into the account the Chinese deeply-entrenched culture, turbulent history, centralized political system, and the trend of ongoing transformation in both business sectors and the spirit of younger generations. A recent article from Chicago Booth News (http://www.chicagobooth.edu/news/2010-12-08-china.aspx) has pointed out “security” is a vital factor in the successful massive marketing in China. China’s turbulent contemporary history, which encompasses autocratic rule, western invasion and imperialism, civil war, cultural revolution, extreme poverty, has taught the majority of Chinese ( perhaps those who born before 1980) to be risk-averse. That is, anything related to “peace”, “safe” or “stability” would be welcomed by Chinese customers. The article lists “Safeguard”, the most successful soap company in China, as an example of achieving massive marketing through appealing to the feeling of security.
If security is essential for Chinese born before 1980, then what is appealing to the new generations of China? In my opinion, it is perhaps “future”. Unlike their parents and grandparents, the Y-generation in China grow up in a fairly stable society, and they see the fast progress of their country as they grow up. “Development” is something fascinating and admirable among them; as a result, they aim at future. For instance, smartphone is heavily pursued by the young Chinese, because they see smartphone as something necessary for a “future elite”. Also, languages education industry boomed in the past decade, again, the reason is that mastering a second language is deemed important for a brighter future.
Thanks for reading, and welcome to leave your thoughts =D