Foreign Brand in China
1.Literature Review
China has become world’s second largest economy after the United State. It has become the world’s fastest growing major economy. As the result of that, the market of china became the most attractive place for the foreign brands. Actually, there are many brand had already be succeed in china. According to many economists, KFC was the most successful brand, which has more than ten years’ experience. “China is the most important market for KFC. “ said by David Gill (the CEO of KFC in United state). , "KFC is still seen as a foreign brand but it's a foreign brand with local characteristics."
“One of the many mysteries of modern marketing is how KFC, a once rather lack-luster American fast food brand, outperformed all competitors and in particular arch rival and world market leader McDonald's, to become the biggest restaurant chain in China.” Said by the John (business news 2009)
Another brand such as Starbucks and Carrefour had their own approach in china. According to Peter(2010), Carrefour has become more stronger and experienced than chinese competitors in the market. The other brand Starbucks has set more than 750 outlets in china.
2. Introduction
China is the big piece of cake for every foreign company.
The economic reform opened China market to the outside world and improved the standard of living of average Chinese people. In late 1978 China began implementing economic reforms to develop and modernize its economy. The reforms have gradually rebuilt a new economic system, which is referred as a socialist market economy, by lessening the government’s control of the economy, allowing some aspects of a market economy and encouraging foreign investment. As a result of the reforms, China’s economy grew at an average annual rate of 10.2% in the 1980s and by 10% annually in the period of 1990-2001. This was among the highest growth rates in the world.
As the result of this more and more people want to enter to china in defferent ways.
China has become world’s second largest economy after the United State. It has become the world’s fastest growing major economy. As the result of that, the market of china became the most attractive place for the foreign brands. Actually, there are many brand had already be succeed in china. According to many economists, KFC was the most successful brand, which has more than ten years’ experience. “China is the most important market for KFC. “ said by David Gill (the CEO of KFC in United state). , "KFC is still seen as a foreign brand but it's a foreign brand with local characteristics."
“One of the many mysteries of modern marketing is how KFC, a once rather lack-luster American fast food brand, outperformed all competitors and in particular arch rival and world market leader McDonald's, to become the biggest restaurant chain in China.” Said by the John (business news 2009)
Another brand such as Starbucks and Carrefour had their own approach in china. According to Peter(2010), Carrefour has become more stronger and experienced than chinese competitors in the market. The other brand Starbucks has set more than 750 outlets in china.
2. Introduction
China is the big piece of cake for every foreign company.
The economic reform opened China market to the outside world and improved the standard of living of average Chinese people. In late 1978 China began implementing economic reforms to develop and modernize its economy. The reforms have gradually rebuilt a new economic system, which is referred as a socialist market economy, by lessening the government’s control of the economy, allowing some aspects of a market economy and encouraging foreign investment. As a result of the reforms, China’s economy grew at an average annual rate of 10.2% in the 1980s and by 10% annually in the period of 1990-2001. This was among the highest growth rates in the world.
As the result of this more and more people want to enter to china in defferent ways.