BEIJING, June 17, 2014 /PRNewswire/ -- WPP launched its latest BrandZ™ report, The Power and Potential of the Chinese Dream, which it believes will become essential reading for both Chinese business and international companies looking for growth in China.
The study with new original quantitative research, forms part of WPP reports about the China market, explores the meaning, significance and importance of the Chinese Dream for Chinese consumers and its potential impact on brands. For the first time ever the Chinese Dream is examined in the wider context of the American and British Dreams.
Key highlights of the report include:
- The Chinese Dream is much more recognized than the American Dream and the British Dream, and most Chinese people have a positive attitude towards the Chinese Dream.
- In a sharp contrast to the American or British people, the Chinese people have both personal dreams and the national dream. The American Dream is more of an expression of personal desires whereas the Chinese Dream not only expresses personal desires, but also represents the hope for the future development of the country.
- Chinese consumers have a strong desire for realising the national dream and are quite confident in its realisation. Forty-nine percent Chinese people believe that the Chinese Dream will definitely come true. However, Chinese consumers also fear that concerns like environmental pollution and food safety may become the obstacles to realising the Chinese Dream.
- Consumers believe that brands symbolize national power and that having strong Chinese brands accepted in overseas markets is a hallmark of the Chinese Dream coming true. McDonald's, Coca Cola and Apple are some of the most visible manifestations of the American Dream. Our findings suggest that China should have truly international brands as the symbols of the Chinese Dream and will enable faster development of Brand China outside of China.
- Brands that match the Chinese Dream have higher brand value. Brands should help narrow the gap between the national dream and personal dreams by, for example, ensuring food safety, taking more social responsibility, and removing obstacles to the Chinese Dream.
- Brands should encourage dreams and must participate in enabling the dreams. With the further development of the Internet era, the personal dreams of consumers will have growing importance in the Chinese Dream. Brands should pay attention to consumer dreams and changes in these dreams.
- Both international brands in China and Chinese brands need to gain an in-depth understanding of the Chinese Dream and look for where their brands and the Chinese Dream converge.
- Chinese brands will continue to shape "Brand China" in the future. The reputation of Chinese products and services as a whole is an important manifestation of the Chinese Dream. The Chinese people believe that realising the Chinese Dream means Brand China should shift its identify from "Made in China" to "Created in China."
David Roth, curator of the report and CEO of The WPP Global Retail Practice, The Store, said, "The Chinese Dream - as the Chinese government has branded its strategies for future growth - is getting a lot of buzz. But it also raises questions about potential obstacles and opportunities for brands in China.
"Those companies that understand the importance of the Chinese Dream and engage with it will be competitively advantaged. Finding a way to contribute to realising and enhancing the Chinese Dream will be rewarded by their customers."
Doreen Wang, who is Chief Brand officer of Millward Brown China, commented, "We've already seen companies, both Chinese business and Multinational companies in China, start to identify the importance of China Dream and value its impact on brand building. Some companies have decided to ride the wave of Chinese Dream and integrate this concept into their communications to Chinese consumers."
The Power and Potential of the Chinese Dream is based on original research conducted by Millward Brown, and brings together research and insight from: the WPP BrandZ™ database - the world's largest brand equity database; the Futures Company's multi- national attitudinal study; Y&R's brand research on young people in China; and insights into the importance of dreams in the consumer journey from global design consultancy FITCH.
To download a copy of The Power and Potential of the Chinese Dream click here:
EN:
http://www.wpp.com/wpp/marketing/brandz/the-chinese-dream/
CN:
http://www.wpp.com/wpp/marketing/brandz/the-chinese-dream/
