May 24th - L'Oreal and J n J

Great trip to two of the most important consumer products brands in the world. What we learned about China is: Development in tier 2 and 3 areas is a high priority, China has a head start on the U S in regards to health care reform, Innovation, R&D, Channel Management, acquisition of local companies and licensing agreements are all key strategies. China has an aging population problem like the U S, and the tax base from this demographic will likely cause future problems.. Products must be "de-featured" when entering tier two and three markets (poorer and more rural markets, not the major capital cities in China). Beijing is a beautiful city - spotless - 16 million people and much larger in square meters than most world cities. Of course, after dinner, there was much discussion about many important issues - and we all got to speak our mind - I bought a fabulous Ralph Lauren shirt that everyone loved, well almost everyone, well, really nobody did, but it was $11 US... pic forthcoming...