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• W288778907 abstract "JIM AYALA, RICHARD LAI, BENJAMIN MOK, FRANK WEI, AND HENRY ZHANG The McKinsey Quarterly, 1996 Number 2, pp. 178-180 China's market for fast-moving consumer goods has exploded over the past decade. And as millions of households cross the income threshold for packaged goods consumption, the market is likely to continue to outpace growth in the overall economy. By 2000, some 260 million people will already be able to afford packaged consumer products, making China the world's largest market in many mass consumer goods categories such as beer and biscuits. Not surprisingly, winning in China has become a top priority for ambitious multinational corporations (MNCs), many of whom see China as a once-in-a-lifetime opportunity to catapult themselves into position for global leadership. But what will it take to win in China? By 2000, the leaders will have achieved category market share of at least 20 to 25 percent nationwide - probably more if they are considered clear winners. For mass market categories such as food, beverages or personal care, this implies sales in excess of $1 billion - 10 times more than the average company in a McKinsey survey of 13 leading MNCs in 1995 - and rapid expansion of salesforces, representative offices and joint ventures. But market leadership will be increasingly difficult to achieve. For one, the competition is rapidly escalating. In most categories, the number of international competitors has jumped fivefold since 1990, forcing companies to become more and more aggressive in their pursuit of consumers. Meanwhile, consumers are trying many new products, often trading categories off against one another due to still limited disposable income. Transportation is another problem: enormous distances coupled with poor infrastructure add up to a major headache. It can take up to a month to transport a container by rail from Beijing to Guangzhou in the south, a distance of 1,900 miles. A similar length journey in the United States - Baltimore to Houston - would take a week. Distribution, meanwhile, is expensive as the vast majority of retail outlets are small stores or kiosks, and distributors (who are usually state-owned) provide a very poor service. Joint ventures, though often a necessary route to expansion, can prove exceedingly difficult to manage. Chinese partners might, for example, resist investment in brand and channel development, want to sell to anyone, anywhere, and oppose personnel cuts. Finally, good local sales managers with the right kind of experience and professional approach are hard to find and increasingly expensive. CURRENT APPROACHES OFTEN FALL SHORT. In this environment, many MNCs are finding their current approaches, while reasonable on the surface, inadequate. They can even lead to destructive cycles that halt or reverse early successes. MNCs typically take one of three general approaches in China. Limited commitment is often the response to significant past investments and the belief that the company should now be reaping some rewards. But unless a company continues to invest in sales and distribution and augment local partners' weak skills, it will be overwhelmed by more committed competitors and fail to build a strong organization. …" @default.
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• W288778907 date "1996-03-22" @default.
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• W288778907 title "Winning China's Consumer Market in the 21st Century" @default.
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