Branding and Marketing are important factors to be considered if you want to increase the value of your company, particularly for those in the consumer product and the high tech sectors. Branding and marketing are two areas that can distinguish you as a market leader from the rest! Constant innovation is said to be the key to branding as new strategies are continually required to keep a brand relevant in a fast-changing market economy. In an economy as complex and competitive as China, most consumers will be exposed to multiple varieties of a particular product/service and even become confused about which one to choose. In this case what influences their decisions is the impact of the brand and marketing of each company. without a strong marketing presence you are simply relying on luck, or playing russian roulette with your business.
Why are branding and marketing so important in China?
China became one of the worlds largest consumer markets in 2014 and is expected to become the largest in coming years. Constant improvements in communication, products and service is very important. Gaining trust and recognition with target markets is a Chinese business's way of finding an edge over competitors and creating significant enough distinction for consumers to make the right choice.
Awareness: Chinese middle-class consumers place strong importance on brands. Many people will buy luxury goods not because they like them but because they see an element of success in them through the way the goods have been branded and marketed to them. Having a specific guideline that focuses on brand awareness and market creation will be very necessary for achieving this. Even new companies that entered into the Chinese market may consider using brand strategies such as the use of conferences/ trade shows or social media engagement to create awareness for their products.
Open the conversation : This strategy is vital when conducting branding and marketing of products and services in China. By open the conversation, I mean generate a multi channel and directional flowing conversation between your brand and any potential market subscribers. Make it your mission to raise the number of potential customers that you educate on the value of your products and services (which you can achieve through contents marketing campaigns). Simply opening up dialog and conversation around your brand can be the tipping point for consumers choice. Gaining perceived value, and differentiation is what you're hoping to achieve.
Products that give positive meaning and impact to users: Constructive and sound brand-marketing strategies will touch consumers hearts or appeal to their sensibility , human nature or even ambitions and desires. Your first approach of creating value to your target audience is through marketing ,not the products.
Increase credibility for stability: Even as a newcomer to a market, a good brand and marketing network can improve the way targeted clients perceive your business and this will, in turn, boost the stability of your business. Everywhere credibility will at least get you in the conversation. Having a creditable "name-drop" in your elevator pitch will make the prospect relax and listen a little closer. You may only have a few moments to "sell"; a strong brand name will give you more time! This is doubly effective in the Chinese market, where many multinational powerhouse brands carry such strong influence and face value due to their almost celestial brand presence in comparison to local competition.
Add more value: In such a competitive business environment such as China, a business that aspires to see the light of day must present value to the potential clients and target audience. Yes, if you want to compete, your products have to stand out from your competitors. Value is the name of the game and value is a 2 way street, your either giving value or your taking value. The companies who have not been able to clearly provide their clients a clear path of value won't make it! If you want to "make it" in the diverse and competitive Chinese market, we recommend seeking help and guidance from local experienced professionals.
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