Ogilvy China has just released a research report titled “Globalising in a New Economic Reality: Making Chinese Brands Matter Globally”, the report builds on interviews with 40 CMOs of major Chinese companies and insights from Ogilvy experts in Chinese and global brand management. It underlines key challenges currently facing their overseas expansion and presents 7 principles for building sustainable brands on the global stage.
The main motivation found for Chinese businesses to expand overseas reads the same as everywhere else: growth. About four out of five executives (79%) interviewed cited “new markets for growth” as the primary motivation for entering foreign markets, while domestic competition and the acquisition of advanced tech/skills ranked second (both 32%).
Hoping to expand overseas, half of the interviewees said they preferred building a new presence from scratch rather than acquiring an existing brand, while 30% chose a mix and match combination of both methods.
The full report can be downloaded here