The third-quarter growth figure of 6.9 percent, as reported by China’s National Bureau of Statistics, was a decline from the first half of the fiscal year, and the country’s lowest since 2009.
This post is of particular interest to me and brings back memories of consulting and training in China with one of the world’s leading watch designers and manufacturers as they looked to take full advantage of digital marketing to reach their intended target market segments. During the time I spent in Shanghai we indeed discussed macro economic dependencies i.e. China’s GDP growth and how that relates to the amount of money consumers have to spend on good and services related to the client’s core offerings.
In relation to our UK Digital Marketing Agency when consulting with clients we attempt to at all times to provide a consultative approach when developing digital marketing and social media campaigns for our clients. It is interesting to note though how many companies and business leaders actually do not take a tops down, market driven, supply & demand approach to …
- Identifying Target Market Segments
- Carefully Considering Appropriate Marketing Channels
- The Category Marketing Positioning Of Their Products/Services
… as more and more of the marketing attention and focus is put into Digital Strategies and often a ‘shot gun’ approach undertaken, it has become more important to look at the viability of the market as dictated by the overall economic growth and this feeds down into what people are able to spend in the marketplace at large.
As China’s economy is seeming to stutter, we will have to wait to see how the knock on effect ripples over into the western economies and as a consequence end up having eight a positive or negative impact on our own business or on the company that we are employees for.
If you are looking for a consultative approach to assisting your company in its go to market digital marketing and social media strategy development get in touch to see how we can assist you in your endeavours.
-Stephen C Campbell