EIA 004 The Return of the Super Consumer
Michael Zakkour, is an author, writer, public speaker and lecturer. In this episode he talks about his latest book “Chinese Super Consumers” and the influence that they are around the world, as well as general insights and advice that can help business formulate their strategy.
Introduction: (0:00.0 – 1:05.2)
- Introduction to the guest, Michael Zakour, an expert on the Chinese consumer market.
- Mention of his book, “Chinese Super Consumers,” and its focus on the impact of Chinese consumers on the world.
Understanding the Chinese Consumer: (1:05.2 – 11:41.6)
- Chinese consumers’ growing purchasing power and impact on global markets.
- The importance of understanding Chinese culture, history, and philosophy for successful business in China.
- The influence of technology and e-commerce platforms like Tmall and Alibaba.
- The significance of brand recognition and building trust in the Chinese market.
- The diversity of Chinese consumers and the need for targeted strategies.
Adapting to the Chinese Market: (11:41.6 – 22:40.2)
- Adjusting product mix, pricing, and marketing strategies for the Chinese market.
- The importance of localization and understanding regional differences within China.
- Challenges and opportunities for foreign companies entering the Chinese market.
- Building brand awareness through storytelling and establishing a 360 approach.
- Evaluating the benefits and limitations of e-commerce platforms like Tmall.
Navigating Economic Slowdown: (22:40.2 – 27:55.4)
- The impact of a slowdown in the Chinese economy on businesses.
- Understanding the context of China’s economic growth and maturation.
- Adapting pricing, product mix, and market strategies during economic fluctuations.
- The importance of long-term perspective and adjustment rather than panic.
Keys to Success and Final Thoughts: (27:55.4 – 29:57.0)
- Essential factors for success: understanding culture, developing strategy, establishing partnerships, and effective marketing.
- Acknowledgment of the challenges and failures that can occur in business.
- Encouragement to embrace opportunities in China and be prepared for its impact.
- Contact information for Michael Zakour and gratitude for his insights.
Conclusion: (29:57.0 – 30:01.4)
- Closing remarks by the host, Neville J McKenzie.
- Encouragement for listeners to subscribe and visit asiabizstories.com for more information.