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Two case studies will then be introduced to illustrate how a domestic brand and an international brand have achieved success in the Chinese market.
2.0 Socioeconomic Environment
It has been long recognized that food is vital to human survival. When the household income is low, expenditure on food will, without doubt, take up a significant portion of a family?¦s income. As income rises and people are better fed, a family?¦s spending focus will slowly shift from food to other areas.
In order to determine the poverty or surplus level of a population, Engel?¦s Law was developed to address the above mentioned phenomenon, with Engel coefficient commonly being used to measure the living standard of a population from a given country or region...
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