In the past, successful global businesses have failed in China due to various marketing reasons, including inadequate market research, viewing the Chinese population as one single market, and differences in consumer behavior in fields like brand loyalty. However the most common, and worst, mistake made was assuming that China was already a free market-driven economy with all the associated assumptions of free demand and supply.In the recent years we can see substantiation that China is coming out of this transformational phase, and heading into a more stable economy, more suitable for marketers to use familiar and proven methods.
Although China has a lengthy future of growth ahead of it, do we notice fewer failures due to unstable markets or does China remain a developing nation with all the associated risks?
- John Cutrone III
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