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My Targeted Market: China's Growing Consumer ClassIf I could sell just one unit to each of China's 1.3 billion citizens, I could be rich! While this is a siren song for many, the rocks of shipwreck await those trying to navigate this course. On the other hand, the old maxim, nothing ventured, nothing gained applies to opportunities that abound in present day China. There are many studies that a business can find to assess who might buy your product in China, how many potential customers exist, etc. In assessing the market size, consider that in buying power for consumer products, a Chinese family with an income of $10,000 per year is equivalent to an American family with an income of about $35,000 per year. While there are many markets in China that Westerners are not currently participating in, some have made an impact in the Chinese market. Motorola, Proctor & Gamble and General Motors are all examples of American companies that are currently achieving considerable profitability by selling consumer products to Chinese people. Your business does not need to be on the same scale as GM or P&G to sell consumer products in China successfully. But, you do need to learn what they have learned, and apply that knowledge to maximize your chances for success there. Read How can I optimize the Customer's Perception of Value and Cost? |
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