In a recent report released by MasterCard (Brand Preference of the China Affluent), the affluent in China has a preference for foreign brands. When asked about the most important factors for this preference, Quality (92.7%) came out tops. This was followed by global brand recognition (68.3%) and fashionable design (58.5%).
Well, “Duh!”
What are brands? They are the promise of delivery. A brand tells you things about the product or service simply by being true to a list of characteristics. When you pick a brand, you know exactly what you are getting, how much of it you will get and what it will cost you.
Look at the recent tainted milk incident in China. Before that was the luncheon meat (ok, spam for you) and then a few other incidents here and there. This kinds of slip up do not bode well for the industries in China. Above all things, quality is important. Would you drive a car that will fall to pieces at 60mph? Or a phone that refuses to connect in an emergency?
I am all for market surveys, but some are… well, unnecessary. Brands are just that, brands. Foreign or local, there is a difference only in so far as its percieved quality and reputation. If all the world were one country, there will still be a preference for brands. BMW over Toyota, Lexus over Saab… whatever it may be, people will have their preferences.
As marketers, we need to understand that to deliver on the brand promise is of utmost importance. That takes more than briliant marketing. It requires the efforts of the entire team, company. We can be the cheerleaders, but if there is no game, there is nothing to cheer about.
Some references:
Guangzhou news
China Daily
AsiaOne
BBC News
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