In a discussion with a high-ranking
official in China's Department of
Commerce, I observed, "If Chinese companies improved their
global branding efforts overall, then the Gross Domestic Product of China might
increase by 10 or 15%, with no increase in plant and equipment." He replied,
"I agree."
Many seminars, conferences, articles, and books have examined
the possible economic and financial barriers to China's continued growth.
Such barriers are important and deserve attention. However, much less
attention has been given to the marketing and branding efforts of Chinese
companies. The effectiveness of these efforts in
the global marketplace may have considerable impact on China's future growth.
Once a year, BusinessWeek publishes an article with estimates of the
monetary value of the top 100 global brands in the world. In the most recent article, 50
of the most valuable global brands were from companies in the US, 11 from
Germany, nine from France, five from Japan, two from South Korea, and
one from Finland. None were from China.
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