AN EXPLORATORY ANALYSIS OF LATVIAN BRANDS COMPETITIVENESS IN CHINA

Abstract

In the past several years, China is entering a new stage of country's economic development. Due to these changes of foreign brands also are switching their position towards Chinese consumers. The attitudes that consumers have towards international brands have been studied in the western countries for some time now. On 6th November 2016, the 5th Summit of China and Central and Eastern European Countries (CEECs 16+1 Cooperation) was successfully held in Riga, Latvia. On the behalf of Guidelines which were made to help the cooperation between Central and Eastern Europe and China, some Latvian companies adopted an approach that emphasizes relation building with local agencies. However, these companies don't do enough marketing planning and their activities in this field are implicit, because they do not understand Chinese consumers and their shopping habits. In order to enter Chinese market and expand the business here, entrepreneurs must understand the mindset and preferences of Chinese consumers. Through some marketing survey in Beijing, Shanghai, Guangzhou, Chengdu, Nanjing, Hangzhou, the author collected the marketing research data of consumer preference by questionnaires among the six largest cities in China. Through some marketing theories, SWOT analysis, data statistics, the research gets a comprehensive analysis result. By taking a fresh look at the marketing researches amidst latent consumer conception and behavior further, this study generates gaining experiences of Latvian brands building in China market. Then the conclusion will show the suggestions of how Latvian international brands adjust their marketing changes to raise their brands competitiveness in Chinese consumption patterns and to address the impact of consumer behaviors and marketing activities successfully.