Chinese brands outperform MNCs
Print Edition
CHINESE brands are preferred by consumers as they are quicker to tap latest media trends and bolder with new marketing campaigns, outperforming their multinational rivals, industry experts noted yesterday.
“Chinese entrepreneurs and marketers have a better understanding of domestic consumers and are quick to adapt to new marketing trends,” Tian Tao, deputy general manager of market research firm CTR China, told the China Insight Summit in Shanghai.
Tian is confident that “Chinese brands will enjoy a golden age in the next 10 years.”
In the first quarter, domestic brands dominated almost all of the popular TV program sponsorships, according to CTR’s media monitoring data.
“Domestic brands are quicker to spot popular entertainment shows and they have a shorter decision making process than most multinational players, that gives them more opportunity to impress picky consumers,” Zhao Mei, general manager of CTR’s Media Intelligence unit, told Shanghai Daily.
More than 30 of the top 50 most frequently purchased consumer products of Chinese urban households are made by home-grown manufacturers, according to data tracked by Kantar Worldpanel, CTR’s consumer research service.
Although TV advertising expenditure fell 2.9 percent in the first quarter of this year from a year ago, the medium is seen to continue playing a major role to help build a brand name, Zhao said.
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