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Basics In Globalization Essay

904 words - 4 pages

Barbie Gets Booted in China and Handling Global Corruption
MBA 502 Global Business Environment

Barbie Gets Booted in China

According to the Los Angeles Times in an article by David Pierson published on March 8, 2011, Mattel, Incorporated is closing down the company's sole stand-alone store dedicated to the legendary American doll, Barbie (LA Times, 2011). The store was nestled in a downtown area of Shanghai’s Huaihai Road which was loaded with foreign retailers and luxury brands. The store was a enormous six-story, 36,000-square-foot Barbie store embodied by gaudy pink neon lights and featuring cosmetics, a spa, a cafe and a bar designed by one of Shanghai's premier restaurateurs. ...view middle of the document...

S. is everyone knows the brand. In China, no one knows who the brand is. They tried to do too many things with the brand, their products were perceived as being too sexy rather than being cute.”
The Chinese market has attracted many foreign investors such as Mattel because the enormous market potential can not be ignored. Economic predictions indicate that China can become the world’s largest economy (American Education That said, it is important to note that there is a method to breaking into the Chinese economy and the recipe was not followed by Mattel with the Barbie doll failure. The Chinese are seen as having a high level of involvement when they purchase products for their social or symbolic value. The Chinese value social harmony and smoothness of relationships so the social significance of products becomes highly important to the Chinese in expressing status, gratitude, approval or even disapproval (American Education Also, a cultural gap exists between the USA and China since the foundation of Chinese cultural values is rooted from interpersonal relationships and social orientations. Chinese people tend to rely heavily on personal relationships or connections known as “Guanxi” in business dealings (American Education Guanxi means connections or relationships (American Education The culture of Guanxi networking is well-known and widely established in China’s culture. Guanxi is essential in the initial stages of entering the Chinese market. Any foreign investors who have any hope of creating a successful business in China must understand the dynamics of Guanxi....

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