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Essay / Research Paper Abstract
This 9 page paper considers the potential of the market for in China for cosmetics, including skin care products and makeup. The market s examined in the context of medium sized business seeking a new market to enter. After assessing the market ethnocentric and polycentric approaches are considered for entrance into the market. The bibliography cites 10 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEchinacos.rtf
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Unformatted sample text from the term paper:
range into a new market. If we consider a company that makes cosmetic products thy may find that the current market is one that is facing a large level of
competition and needs to expand. If this company identifies China as a potential single large market which would be suited to the products they make, this could be a potential
area but there will be some problems to be faced. China is projected at becoming the largest single economy in the world after it has developed. The country has
joined the world trade organisation and the economy is opening up and liberalisation is occurring, with greater international interaction and a higher level of global influences. This is a market
that is growing in China, between 1998 and 2002 there has been a 50% increase in the cosmetics market, 2002 alone saw a 8.8% increase. The sector which makes and
provides the very basic products is reaching maturity, those products with differentiation are increasing popularity (Euromonitor, 2003). The most dynamic area is that of skincare, with growing markets for products
such as face masks and cleansing wipes (Euromonitor, 2003). This market is at an earlier lifecycle stage that the cosmetics market in the west, as such the company already has
the product knowledge required to meet many of the market needs. The market is also one that has not yet peaked. The growth in the market is expected to
continue, growing at 7% a year until 2007 (Euromonitor, 2003). However, the growth may not be evenly spread throughout the country. There are many rural areas which are very underdeveloped,
and the metropolis there may already be a mature market. Therefore, the entrance to the market need to look to towns and cities and then expand to the more rural
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