During a recent swing through Asia, Jim Stengel, Procter & Gamble's global marketing officer, visited the company's China headquarters in Guangzhou and met with AdAgeChina Editor Normandy Madden.
Advertising Age: How has China changed since your visit last year?
Mr. Stengel: It's more developed, there are more services, there is more dynamism, it's pretty amazing. It's a really sophisticated market technologically, and also very aggressive.
AA: China has severe media inflation and consumers are watching less TV. How are you trying to overcome these challenges?
Mr. Stengel: We're preparing for a world in which all consumers are spending less time watching television, in the way we display our brands, having consultants in stores, testing new ways of engaging consumers when they want to be engaged and in ways that are relevant and make them think about our brand differently.
AA: What observation will you take back to Cincinnati as the most important thing to understand about China and P&G's business here?
Mr. Stengel: The GDP numbers are incredible and they're continuing to go up. The formation of new households rate is incredible, which is really pivotal to our business. ... We need to stay ahead of the market. That's what management's job is.