Thursday, January 10, 2008

Marketing in Asia

Here is an insight on brand mindset gleaned from Knowledge@Wharton: Western companies looking to do business in Asia, especially in China, don't always confront a homogenous market, and the ways that consumers make decisions about what to buy aren't always predictable, according to a group of marketing experts who spoke at the 2007 Wharton Asia Business Forum. Like developed-world consumers, many urban Chinese people are technologically savvy and comfortable seeking product information on the web. But unlike them, they don't typically show brand loyalty and are often more motivated by price than perceptions of product quality or prestige.

Consumers in China and other fast-developing Asian countries tend to be less attracted to luxury brands than their Western counterparts. Partly, that's simply a matter of economics. Although many of them are experiencing a significant rise in their standard of living, they are still relatively poor compared with people in the developed world.

No comments: