This article discusses What Western Marketers Can Learn from China.
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Strategic Management
What Western Marketers Can Learn from China
For decades now, marketing techniques have significantly evolved to fit different business spheres. Most company executives prioritize marketing activities that are determinants of growth, despite taking up vast resources. One is trained to conform to long-range planning, lengthy decision-making processes, and multi-channel strategies in the West. Western marketing techniques are more concerned about reaching individual customers than processes, people, and environment around products (Whitler, 2019). Contrastingly, Chinese companies have pioneered in innovative strategies to reach and win over audiences profitably. They are patient in their business endeavours and dogged to perceive operations from a pattern perspective.
In the article What Western Marketers Can Learn from China, Western marketing approaches measure against Chinese tactics. Companies in the west focus on profitability and efficiency, a trend viewed to be slow and deliberate as it aims to nurture and capitalize on customers’ disposition for product incentives (Whitler, 2019). Consequently, China companies seek to achieve top-line revenue growth by acting quickly and iterate, notwithstanding short-term deterrence. Chinese marketers utilize vast resources by relying on the creation of sharable, viral content and the presence of dominant, channel-straddling media giants. Compared to traditional Western marketing paradigm, Chinese tactics are faster, cheaper, and even effective. Therefore, western executives should understand Chinese marketing strategies, especially in meeting the needs of customers.
China’s Market is Fundamentally Different
Channel-straddling media giants. In China, channel-straddling media outlets operate as an agglomeration of different institutions such as Baidu, Alibaba, and Tencent (BAT). On the other hand, Western context as companies such as Facebook, Amazon, Google, and ESPN operate as single entities and have respective owners (Whitler, 2019). Media powerhouses are the game changers in the marketing industry controlling media content consolidated in mobile phones. Conversely, Western marketers utilize fragmented and channel-centric tactics to meet customer needs.
A world of closed-loop data. Service providers require extra information on consumers to establish their likes and preferences. However, privacy advocates challenge companies by exploiting consumers by linking, selling, and integrating data into marketing platforms without being discreet (Whitler, 2019). BATs integrate into systems consumer information relating to news, social media, gaming, and entertainment.
Mobile-first market development. Mobile and smart technology in China contribute immensely to consumer understanding in terms of product preference. Marketers established that smart technologies were the most effective outreach strategies to reach clients, concentrating on content-based experiences that would influence perceptions and behaviour. Besides, Chinese companies focus on speed. In China, marketers execute their roles effectively by quickly making decisions and acting. This is informed by the fast-growing economy, which also attracts investors and consumers.
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How Western Companies Must Change
Change is inevitable. As Western companies venture into the Chinese market, it is pivotal to plan and execute strategies that have proven effective in the market. The companies should;
To attain sustainable growth, western companies should build closer and deeper relationships with the BATs. Western markets overly rely on ad agencies to reach consumers but should instead reach out to BAT (Whitler, 2019). BAT provides companies to draw from their data and prowess to establish viable marketing initiatives.
Adopt a mobile-first mindset. Companies should focus on making mobiles a primary medium for conveying information and assessing consumer needs.
Go all-in on a social, viral approach. Since markets in the West focus on advertising, executives should embrace change in socially engaging content that is reliable and efficient.
Move from promotions to content-based engagement. Studies show that meaningful engagements with consumers help build long-lasting brand-consumer relationships, hence shopping out of passion and joy.
Shift from channel management to cross-platform integration. Company marketers are responsible for initiating programs cutting across channels and platforms to create a single brand experience. Irrespective of the market, paradigm shift allows co-creation, development, and learning.
Question the value of planning versus speed. Marketers must recognize that process innovation, which drives speed, is as valuable as product innovation.
Reference
Whitler, K. A. (2019). What Western Marketers Can Learn from. Harvard Business Review, 81.