For instance, the economic boom in China's urban areas is creating a new consumer culture where the consumer has more disposable income to work with. This itself has effected consumer preferences and patterns within the Chinese marketplace. The general result is that a more sophisticated Chinese consumer is emerging and foreign companies need to market to their sophisticated needs while at the same time marketing to the general population's needs. Therefore, the most effective way for a company to build a strong brand name in the rapidly emerging Chinese market is to adapt itself to the rapidly changing Chinese culture. To do this, it is important that the foreign company create a local presence and thus shed some of the "foreign corporation" reputation away. This can be done by hiring local staff and cooperating with local business professionals in developing a marketing and branding strategy.

The bottom line is, despite the numerous challenges that the Chinese market presents, a company an be successful if they spend the time and resources necessary to gain an in-depth understanding of the local culture and the Chinese consumer's attitudes and thus become prepared to cope with the many unexpected intricacies of the Chinese marketplace.

Bibliography

Apadu, K., and Sevgin, E. (1991): "Success and Failure of Japanese Companies' Export Ventures in High-Tech Industries," International Marketing Review. Vol. 8, No. 2, p.p. 66-76.

Armstrong, E. (2002): "Communication's Starring Role and Standard Chartered Bank," Strategic Communication Management. Vol. 6, No. 4, p.p. 10-13.

Ayala, J. And Lain, R. (1996): "China's Consumer Market: A Huge Opportunity to Fail?," McKinsey Quarterly, No. 3, p.p. 56-72.

Ayala, J., Lai, R. Mok, B. et. al. (1996): "Winning China's Consumer Market in the 21st Century," McKinsey Quarterly, No. 2, p.p. 178-181.

Chan, W.K., Perez, J. And Perkins, a. (1997): "China's Retail Markets are Evolving More Quickly than...

2, p.p. 206-212.
Dong, L. And Helms, M. (2001): "Brand Name Translation Model: A Case Analysis of U.S. Brands in China," Journal of Brand Management. Vol 9, No. 2, p.p. 99-115.

Fan, Y. (2002): "The Art of Brand Renaming," Brand Strategy. No. 158, p. 32.

Hines, S. (2001): "Culture Shock," Brand Strategy. No. 153, p. 3.

Hofstee, G. (1994): "The Business of International Business is Culture," International Business Review. Vol. 3, No. 1, p.p. 1-14.

Kleppe, I., Iversen, N. And Stensaker, G. (2002): "Country Images in Marketing Strategies: Conceptual Issues and an Emperical Asian Illustration," Brand Management. Vol. 10, NO. 1, p.p. 61-74.

Melewar, T.C. And Saunders, J. (1999): "International Corporate Visual Identity: Standardization or Localization," Journal of International Business Studies. Vol. 30, No. 3, p.p. 583-598.

Muhlbacher, H., Dahringer, L. And Leihs, H. (1999): International Marketing: A Global Perspective. New York: Thompson.

Pan, Y., Tse, D. And Xiaolian, L. (2002): "Evolution of Brands in Transitional Economies: The Case of China 1993 to 1998." Working Paper. www.allaboutbranding.com.

People's Daily (2000): "Draft Amendment Product Quality Law to Boos Consumers Rights. www.fpeng.peopledaily.com.cn.

Schmitt, B. And Pan, Y. (1994): "Managing Corporate and Brand Identities in the Asia-Pacific Region," California Management Review. Summer, p.p. 33-49.

Tam, J. And Tai, S. (1997): "The Psychographic Segmentation of the Female Market in Greater China," International Marketing Review. Vol 15, No. 1, p.p. 61-77.

Terpstra, V. And Sarathy, R. (2000): International Marketing (8th Ed.). Forth Worth: Dryden Press.

Usunier, J.C. (2000): Marketing Across Cultures. Harlow (UK): Prentice Hall.

Yan, R. (1994): "To Reach China's Consumers, Adapt to Guo Oing," Harvard Business Review. Vol 72, No. 5, p.p. 66-74.