Entering the China Market

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From the course by The Chinese University of Hong Kong

Selling to Chinese Consumers

26 оценки

The Chinese University of Hong Kong

Selling to Chinese Consumers

26 оценки

Course 1 of 4 in the Specialization Doing Business in China

This course is designed to help learners sell their products, goods and services to Chinese consumers. To achieve this goal, the course will use evidence-based research in psychology, economics, legal studies and marketing to help learners understand the historical, economic and legal contexts of doing business in China and the behavioral characteristics of Chinese consumers. The course will cover topics in Chinese and global marketing, Chinese consumers, institutional and cultural influence on consumer motivation and behaviors in Chinese markets, and brand management in China.

From the lesson

The Chinese Consumption Market

China is a big consumption market. It is a distinctive consumption market because of its unique contextual and cultural factors. Why do Chinese consumers spend big money on luxury brands? What roles do historical, contextual and cultural factors play in influencing Chinese consumption habits? The current module seeks to answer these questions.

Welcome to Doing Business in China2:27

Entering the China Market2:54

Meet the Instructors

Prof. Letty Kwan
Assistant Professor
Department of Psychology

Everybody knows, China is a big market,

including a gigantic consumer market of 1.3 billion people.

According to a leading consulting firm,

76 percent of China's urban population will be considered middle class by year 2022.

Now, that's defined as urban household income that earned $9,000 to $34,000 a year.

Although that may not sound like a lot,

but we've adjusted for prices,

it actually means a similar middle class size like other countries.

Now, in year 2000,

only four percent of the urban population in China was considered middle class.

So, if you're looking for an exciting place to establish your company

or expand your business to an overseas market that is full of potentials,

you have to consider China.

But going to China is not easy.

You have to understand both the potential and the challenges of doing business in China.

You must be very entrepreneurial in a market that is full of unknowns,

full of eager business people,

and consumers who are very dynamic and constantly spoiled by choices,

and they always demand for better and quality product.

What does entrepreneurship mean in China?

How can you apply innovation and creativity in the Chinese market?

How to validate your market?

How to write a business plan that will suit the Chinese market?

And more importantly, how to finance your startup?

You have to also understand that

Chinese consumers are not only very different from the rest of the world.

And they also differ from province to province,

even city to city.

It is not just one but many markets by themselves.

We will help you to understand the Chinese consumption market,

how to do digital marketing and relationship management,

how materialism and conspicuous consumption have affected the Chinese consumers,

and how to build a strong brand in China.

While it is essential to know the Chinese customers,

you must have a solid China strategy.

Starting from understanding the new environment of China,

moving from a socialist economy to where it is now.

Who are the major players and where are they located in China?

What would be the best entry mode for your company?

And most importantly, how to become a strategic insider in China?

So, these days, if you are in business,

that means most of you,

you are very likely,

you have to deal with China in some way.

We will provide you the foundation for you to

craft the best strategy starting a consumer business in China.

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