Chinese influence on the US and Global Economy Part 4 of 4
In the fourth and final series of my four sections on China’s influence on the US and the global economy, we focus on the benefits of working with international expertise for your business if you have plans to enter the Chinese business market. My extensive Asian market business experience encouraged me to write this series so that you can help you better understand how you can open your business to benefit from the Chinese market.
Cultural mistakes can take a lot of time
In 1973, Procter & Gamble sought to expand their Camay soap line in Japan. Their ad showed a Japanese man meeting a Japanese woman for the first time, and praising her on porcelain dolls like her skin (achieved with a firm soap, of course).
Over the next 13 years, the company lost $ 25 million in the market. Japanese people shouldn’t be soft soapy.