Understanding the finer points for business gains

"My company takes part in a lot of project bidding in Brazil," he said. "Several years ago, the State Grid Corp of China came to our country. Today, they are a big competitor. I am here to understand their mindset."

The module also offers lectures analyzing the distinctive behavior of Chinese consumers.

Juliet Zhu, professor of marketing and co-director of the Branding Center at CKGSB, has just returned to China after spending years living and working abroad. She uses her experience of living in Canada into her course to help shed light on differences between Western and Chinese consumers.

"Understanding nuances and cultural differences is fundamental to business success. For example, Chinese consumers are highly price-sensitive. They can easily switch brands for a better price," said Zhu.

Top 10 industries with most generous private employers

Biz school president eyes China's potential

"As a result, foreign manufacturers increasingly look for ways to lower prices to make their products more acceptable to Chinese consumers. However, quality is key to building trust, and Chinese consumers demand high quality."

For Alexandre de Toledo Correa, general manager of the product and shopper marketing divisions in Brazil for The Marketing Store Worldwide LLC, a United States-based marketing agency that has research and development centers in China, the most critical thing is how to target the right consumers.

"In coastal areas, consumers are going digital. But in more rural areas, the basic needs have yet to be met. The approaches for marketing to these different groups of customers should vary," he said.

"Doing business in China is full of challenges and opportunities. However, once someone has mastered that, the market here promises huge returns."

Sergio Muniz, sales director of the Netherlands-based Gemalto NV, a digital security services company that has business ties with China Mobile Ltd, was surprised by the popularity of mobile devices in China.

"It's a great surprise to see that the volume of online transactions in China is more focused on mobile devices. The percentage of e-commerce is much higher than in Western countries," he said.

Zhu said that having staff who have studied at CKGSB can help reduce risks for foreign businesses in China.

"It is more efficient and effective to seek local help when moving into a country where cultural differences could present challenges. Moreover, many of the students here are from business-to-business companies. Therefore, developing trusting relationships with their stakeholders is critical for their success in China," Zhu said.

The school operates through the financial support of the Li Ka Shing Foundation, run by the Hong Kong tycoon and philanthropist.

Previous Page 1 2 Next Page

Previous Page 1 2 Next Page