American and Chinese Retail Market Research Proposal

American and Chinese Retail Market - Research Proposal Example What are the differences in the consumers What are the hindrances What are the benefits attached What are the implications of Economic and financial policies The issue of understanding the differences in the economic policies and the consumer market between the established markets like U.S. and emerging markets like China is of immense importance. Many multinational enterprises view China as a vital market and one with tremendous potential for growth in the future. The successful expansion of most multinationals depends upon the strategies and policies designed by keeping in view these economic and social differences. After taking a review of the researches for the problem through different aspects I will try to find out and underline the differences in both the markets and Governmental policies of both countries. A primary component of extensive theories of consumer behaviour is product assessment where consumers evaluate the characteristics of numerous product offerings. Such assessment is undertaken for their own decision making and for finalising purchasing decisions. In this phase of consumer behaviour, products are assessed on numerous characteristics, in regard to what consumers consider as their priority - as an outcome, product attitudes determining purchase decisions are developed. A significant body of empirical research has determined the importance which Chinese consumers attach to various product characteristics. Results suggest that a wide array of intrinsic criteria including style, comfort, colour, workmanship, and either fabric, fabric content, and fibber comfort were considered as top factors (Forsythe et al., 1999; Zhang et al., 2002). While the extrinsic criteria of either price or brand were evaluated as somewhat less significant than either attribute in two of the studies (Zhang et al., 2002), Forsythe et al. (1999) purport that price, along with design and quality, strongly influenced the purchase intentions regarding a jacket. Since economic and cultural factors have been associated with consumers' distinct use of country of assembly information when assessing and buying products (Low & Corkindale, 1998; Zhang, 1996), and outsourcing production is prevalent, there are studies which have studied the influence of country of assembly in more depth. Several studies have asserted that Chinese consumers' buying choice, perceptions of