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As China's economy continues to grow at a rapid rate, so do the income levels of the population. This income increase has left buyers wealthy and ready to spend big for prestige, quality and excellence. Shifts in buyer demographics alter the state of competition by opening the way to market an industry's product through a different mix of dealers and outlets, prompting producers to broaden or narrow their product lines, bringing different sales and promotion approaches to play, and forcing adjustments in customer service offerings.
Global automakers have been quick to expand their presence in the emerging markets of China in order to take advantage of the enormous market size...
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