Now I will discuss about the market in China.
Why do big companies still glancing china
as a country of destination marketing their products? And what business is
growing and has an attractive business opportunity in china? I will
describe the following answers to
these two questions.
The
simple mention of China is enough to get any business person agitated and
excited. China has one of the fastest-growing economies in the world and offers
a large number of consumers ready to buy any number of a variety of goods
because China has the largest population in the world. In
addition, a significant portion of the world’s products are made in China. Many
part of products from other big company also produce in China, such as
automobile, electronics, etc. All this
points to one thing—the Asian country appears to be the next economic superpower.
Few years ago, China has become the target marketing
of sports products such as Nike. Nike
puts its marketing strategy to build brand awareness and recognition.
Target customers are young customers. Nike be a sponsor at the event
basketball when it was booming in
2004. Nike take Michael Jordan and basketball
athletes known in
China as a strategy for the
introduction of the product to
the consumer.
Compared to a few years ago, a growing business in China today is
beauty products. According to a recent article in
Fortune magazine, Access Asia reports that the beauty industry in China is
growing at amazing speed, “doubling since 1998 into a $7.9 billion market that
is expected to climb to $9.6 billion by 2009.” The same report indicates the
makeup category was forecast to register sales of $524 million in 2005,
increasing to $705 million by 2009. This industry was the fastest growing in
China.
Not
surprisingly, skin care remains the dominant sector in China’s beauty market,
with strong growth attributed to increasing concern among consumers over their
appearance and their rising income levels. The increased number of product
launches, especially at mass, is now providing Chinese consumers with a wider
array of more sophisticated, technologically-enhanced skin care product at
accessible price points, sold in hypermarkets and other retail formats that
have penetrated into less affluent cities and provinces. The higher disposable
income has also influenced Chinese consumers past the basic skin care regimen of
cleanse and moisturize, to now include growing interest in toners, anti-aging
products and facial masks.
Based on the latest available data,
3 February 2013 (http://statistik.ptkpt.net),
China has a number
of women as much as 651.701.570
inhabitants. This large number makes the beauty
business in China has mushroomed to follow
beauty trends from other countries like Japan
and Korea.
So, in addition to the
automobile business, electronics and fast food in China,
there are other opportunities to develop business in China, it is the beauty business. New
challenge for the businessman in
the world.
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