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Chinese Low-Priced Consumer Goods Market Calls For Powerful Brands

As the economy of Chinese people increases with more economic growth, domestic and international corporations hurry to provide consumers with more shopping options. However, the selections are not only created by new products but also attract different parts of the population through different attributes and pictures through different brands. The branches point out attributes as a high quality or fashionable style, but also belong to a specific social class or group, and thus can be sold at premium prices as long as they have produced the same brand of non-branded alternatives. Price not ready too.

In developing countries such as China, there is also a large part of the market in which there is no big purchase yet. With the cost of urban population consumption per year of 8696 CNY per year in 2006, we can expect the majority of Chinese population to become regular consumers of premium brands. Instead, those companies who can get more market share invest in making strong low-cost brands for market-based consumer owners- related Chinese people.

The marketing of market owners in China is encouraged to face severe competition in almost every industry. Due to the lack of IPR enforcement companies, small companies may reduce the cost of the market, using their capabilities to move existing products, and to overcome technical obstacles. At the same time, effective use of mass production allows them to reduce production costs and retail prices. They can reduce their competitors by reducing profit margins, for the lost revenue due to the sale of large quantities of similar products.

Such a saturated and established consumer market encourages investment in low-end brands and improves market acquisition. After all, a lot depends on a market at the cost of attracting customers to attract users, loyalty brands and branded brands for well-established brands also prove to be difficult. Many institutions believe it is better to reduce branding prices to gain the benefit of prices. However, in this article, we will argue that the brand is the specific element for low-cost products, which on the basis of their purchase decision by Chinese consumers.

Benefits of brand low consumer branding

A market that is widely known for sale in quantity, and is often famous with design, content quality, or very little attention to the production process, it can serve as brand quality marker. In other words, given a small price difference for similar equipment in low-end market, consumers will buy products from a more prestigious brand because it is of high quality, partly because the reasonably known translation “Buy it in more and more people, so it must be better”

Indeed, consumer purchases are affected by strong brands because they are seen as a product safety mark. Studies show that in addition to product related factors such as price and brand name, promotion of name, promotion channels, source credentials, real country, nature of product testing authority, and warranty, most importantly Affects the final selection of consumers. To offer similar products. Therefore, by careful zing these variables when attracting large and growing markets of security consciousness in building brand strategy managers and can achieve a major competitive edge.

Apart from product quality and safety, the potential attributes of the brand product may also be different from above and above. In other words, the brand makes itself an instrument of product conflicts and therefore is a competitive advantage. Even when branded products are not necessarily non-branded, brand name gives these additional features.

Chinese customers are a short list of products that are intended to buy regularly and do not afford to buy it easily when purchasing. Naturally, and especially in the current economic crisis, consumers of low cost prices are sensitive and thus are not loyal to their favorite brands (help in buying deals and promotions from favorite brands. Can do). Still, average Chinese consumers are willing to pay about 2.5 percent of the premises for a branded product that they buy regularly. In this way, market development and development of the market is important, and it will be necessary.

Successful brand building challenges for low cost equipment

As mentioned earlier, the low-end market price recovery is facing one of the biggest challenge companies to develop a profitable and durable brand. This is a great impact for brand value because of particular piracy and copyright infringement. In the Chinese market, many low-end institutions do not invest in making the original brand.

Source

  1. com
  2. ECommerceChina
  3. understand KOL
  4. Small Brands for China

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