I think it can! A great example is Lenovo, who acquired the former IBM PC Company Division for approximately $1.75 billion, and is currently the largest seller of PCs in China with 28.6% market share. The Chinese PC maker was ranked sixth with a 5.6 percent market share in the U.S. market in 2010, with sales outpacing all competitors in the US.
I believe Chinese brands have to do the following to compete in the US Market:
#1- Upgrade quality standards.
#2- Communicate NEW quality standards through better advertisement and promotional efforts.
#3- Develop a customer relationship management system with “the customer is always right” mentality.
#4- Reevaluate their pricing strategy, as we all know it, in America cheap = low quality.
In addition, the Chinese American community represents the largest group of Asian Americans, accounting for 22.4% of the Asian American population in the US. Therefore, utilizing the following Chinese symbols in product development to communicate Chinese heritage can be a competitive advantage in the American market:
Red: For the Chinese, the color red symbolizes good luck and happiness.
Chinese Dragons: A symbol of authority, might and power. Chinese people consider themselves to be descendants of the dragon and proudly communicate that in several forms.
Chinese Characters: There are over 80,000 Chinese characters that illustrate the Chinese culture.
Given that this blog post is dedicated to my dear Global Marketing Strategy students at UCLA, I am interested in knowing what you think a Chinese Brand ought to do to make it in America?
