Secret to Succeeding with Chinese Consumers: Reflections on BYD

Forbes: Helen H. Wang

Ever wondered what BYD stands for?

“It stands for Build Your Dreams,” Xin Jin, a business manager at BYD’s Cupertino, California office told me.  Or that is what most people think. Definitely, that is what Warren Buffett thinks.

In a recent to trip to BYD’s headquarters in Shenzhen, Buffett gave the Chinese electric car maker a big show of support.  “I like the name,” he said, as cited by the Associate Press, “let us ‘build our dreams’ together.”

The America’s most famous investor owns a 10 percent stake in BYD, a $230 million investment that is now worth more than $1.5 billion.

It does not take much research to discover that BYD are the initials of the Chinese characters Bi Ya Di, which does not mean anything but sounds foreign or Western. Continue reading

Online Marketing Internship Opportunity

I am an author and looking for marketing interns to help with a major marketing campaign to launch my new book. You will have opportunities to learn the latest, advanced online marketing and PR skills. The person has to have the desire to learn new things. This would be perfect for students who want to get into this field, but without prior experience.

Job descriptions

– Develop online social network marketing strategies
– Create Keyword & Meta-Description tags for blog posts
– Edit author interview audio files and make them available online
– Create short promotional videos and post them on YouTube
– Work on search engine optimization projects Continue reading

Lessons from eBay-Alibaba Battle

This weekend, eBay’s CEO John Donahoe shared the stage with Alibaba’s maverick founder Jack Ma at his annual Alifest conference in Hangzhou, China. Gady Epstein, Forbes Beijing bureau chief, has an intriguing blog about how Mr. Donahoe wished a happy birthday to Jack Ma who not only defeated eBay in China, but also “encroaches on eBay’s home turf.” Since Epstein referenced my recounting of the eBay-Alibaba battle, I thought it might serve readers well to provide an excerpt here from my book The Chinese Dream:

In 2004, eBay had just entered China and was planning to dominate the China market. Alibaba was a local Chinese company that helped small- and medium-sized enterprises conducting business online. Most people in the West had barely heard about it. Continue reading

Opportunities in China’s Healthcare Industry

In my last post, I wrote about the trend in Chinese consumption being significantly upwards. Some people commented on my Facebook and LinkedIn groups that they believed China’s consumer market would be much larger if it were adjusted for the exchange rate.

Doris Gallan, an American who has lived in China for years, wrote: “The way people shop in Wenzhou, China — they are aiming to be the #1 consumer nation! There are many high-end consumer stores here and people (especially youths dress very fashionably and drive expensive cars).”

While the Chinese middle class (see my definition of the Chinese middle class) will alter the global economy in the years ahead, there are obstacles to Chinese consumers increasing their spending. Most people I talked to save 25 to 50 percent of their monthly income for a rainy day. Continue reading