China's Fast-Paced Market Puzzles, Rewards Both Local And Multinational Competitors

Following a three-year gap working in the US , PepsiCo chief marketing officer for Greater China, returned to the country to find it greatly changed, and with change accelerating. In addition to spreading urbanization Lee sees a greatly expanded digital footprint with activity extending far beyond tier 1 cities, creating anomalies with people without basic plumbing knowing English soccer stars. In this fast changing environment Lee sees local competitors as more effective than multinationals that rely on approaches that are outdated and not relevant for China; local competitors, he says, are fresher, faster moving and more innovative in their marketing.