Luxury goods are a tool for career advancement in China. In the PRC, the key benefit of shower gel is "an energizing shower experience that helps me start the day with a kick."
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Is China wrong to make economic reforms so slowly? Probably not. Despite having become the world's second largest economy, China is still a poor country on a purchase power parity (PPP) basis.
Marketers must realize that, as incomes rise, the Middle Kingdom will become more modern, more international, but not more Western. Goods must be positioned in accordance with cultural imperatives.
Western-style individualism is like Eve's apple -- succulent, enticing, desired. Biting into it, however, risks banishment to the Land of Outcasts.
China's recessionary environment has yielded a new conservatism that will not dissipate until vigorous growth is restored.
As the XXIX Olympiad in Beijing has come to a close, all eyes are on return on investment. Were the millions of dollars forked out by both international and local brands worth it?
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