Chinese consumers, brands and the MNC learning curve
Tom DoctoroffJWT
Prior to the late 1990s, local brands – three-dimensional entities carrying intangible equity – did not exist. Of course, local trademarks littered (state-owned) supermarkets and corner stalls. But today, they are an increasingly high-powered threat, one that multinational competitors ignore at their peril. They now control more than 50% of the shampoo market, 30% of mobile phones (albeit mostly in secondary and tertiary cities) and are even making inroads in mid-tier automobiles (Cherry, for example). Tactically ruthless, they are a school of piranhas smelling blood in the water and...