Consumption upgrade China manufacturing should step up brand building

Statistics show that China's total high-end consumption reached 1.2 trillion yuan, equivalent to the total amount of overseas consumption of Chinese people in 2015. McKinsey's report on China's consumers' 2016 annual consumption survey pointed out that China's consumption is upgrading from mass products to high-end consumer goods, and more than 50% of consumers are pursuing the highest quality and most expensive products.
This is undoubtedly a noteworthy signal: people are no longer moving to product consumption, but from survival consumption to development consumption. There is a new change in China's consumption, and it is facing an upgrade from "Yes" to "Excellent".
However, the Chinese manufacturing industry, which has always been known for its “good quality and low price”, is facing the embarrassment of brand shortage. China's manufacturing output is huge, and its output value exceeds one-fifth of the world's total output value, but the quality of its products has a lot of room for improvement.
Wei Weili, CEO of Consumer Reports, pointed out that although China's manufactured products have considerable advantages in price, most of the comprehensive quality indicators are still difficult to occupy the number one position. This phenomenon is more pronounced in the field of products with higher technical requirements. Many companies still prefer the development strategy of “marketing is king” and ignore the cornerstone of quality.
When consumption begins to escalate, consumers' tastes are becoming more and more critical. The most firm support behind the products should be the recognition and follow-up of the brand. Therefore, Chinese manufacturing needs “quality upgrade” and can no longer be labeled “good quality and low price”. Today, as the world is about to enter a new round of industrialization, China's manufacturing industry must seize the new round of manufacturing high-end, and must reshape the core competitive advantage of China's manufacturing industry. The important connotation of this advantage is the brand.
For a long time, China's manufacturing development model is mainly labor-intensive and is at the low end of the industrial chain. Despite the production of many products for the world's brands, there are few manufacturing brands that have gained international reach. Such a situation not only affects the world's awareness of Chinese manufacturing, but also affects the voice of domestic manufacturing companies in the distribution of interests. The profits that Chinese manufacturing companies rely on for production are only a fraction of the sales revenue. From the perspective of global production value chain, the added value created by OEM production is less than 30%, and the remaining 70% comes from the core of R&D and sales, and the profit that can be shared in the production chain is less than 10%.
It is undeniable that some domestic manufacturing companies have made some efforts in brand building, but there is no comprehensive plan. Once the funds are invested, they will not continue to invest if they do not see obvious results in the short term. Some companies even believe that brand management is costly, and operating brands often hurts the company.
To be seen, achieving a brand is a long-term process. Entrepreneurs need to be innovative and build their brands, brand, and brand. China's manufacturing companies themselves need a systematic, long-term, planned vision and awareness for brand building and management. In this way, China's manufacturing can truly catch up with the fast-moving consumer, embrace the huge consumer market, and complete the transition from a manufacturing power to a manufacturing power.

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