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Essay / Research Paper Abstract
This 3 page paper considers some of the challenges for western companies that want to pursue business in China. The concept of Chinese values and Guo Qing is explained and then a company which has faced these problems; L'Oreal, if considered and examined to assess the way in which they dealt with the challenges. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEchinalo.rtf
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Unformatted sample text from the term paper:
of US $1.7 trillion places the Chinese economy as the third largest after the US and Japan. However entering this market can present challenges, the culture is very different,
with values and traditions that reflect the background. There is a high level of consumerism, aided by the way prices are controlled and state employees are provided with housing and
expense accounts. The idea of consumption is attractive, window shopping is a pastime and when purchases are made they will reflect the values. The concept of Guo Qing is important
for firms that want to tap into this potential; this represents the "national characteristics" that are different in the Chinese market. This means that there is more than simply the
language barrier and the concepts such as guanxi are not sufficient (Yan, 1994). To market to the Chinese it is necessary to adapt to the Chinese way of thinking, from
the way that brand names have the potential to impact on demand, to the way association are made, for example short term promotions are unlikely to be successful and there
is a perception that quality cannot be cheap. Once company that has faced this issue is LOreal with their entrance into the Chinese cosmetics market. LOreal have a large
number of brands that are popular in the west, and were able to transfer some of these brands, but the market is competitive and growing, ands the firms have to
deal with a high level of import duty, LOreal has been undertaking the entrance into the Chinese market in an interesting way to gain market share they are not only
developing it, but purchasing it with an acquisition strategy, identifying two brands that already had market share and were attractive to the Chinese market that the firm believed that they
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