RESEARCH ON MARKETING STRATEGIES IN CHINA

Abstract

For years, China has been at the forefront of development, innovation, and global interconnectivity. China's cultural history is both rich and ancient, illustrating a long-standing trajectory of cultural advancement and transformation. This cultural transformation is marked by significant changes, as new generations introduce and adopt distinct preferences, thereby reshaping the cultural and economic landscape. Currently, the international community is beginning to more profoundly appreciate and experience the influence of China's robust economy and its dynamic consumer markets. Partners at McKinsey & Company say, "In a fast-changing market such as China's, finding new ways to serve consumers at all income levels is an imperative--and leading Chinese players are creating the proof of concept for many other global companies" (2021). Hence, in this thesis, I will explore and answer the following question: How have cultural factors in China shifted in the past decade and influenced consumer behavior in the marketplace? Furthermore, I will address how marketers can effectively tailor their marketing strategies to accommodate and align with these nuances. The subsequent sections will consist of a thorough review of the literature and research, a comprehensive analysis of data, and informed recommendations. I chose to pursue this topic due to a strong interest in global marketing strategies and a deep desire to research a culture I identify with. I hope to apply the insights and knowledge gained from this study in future professional opportunities or life experiences that position me abroad.