The starting point for this assignment is your first country report.?This time, choose a product or service that you might sell there. The choice of?product will not be graded (there
The starting point for this assignment is your first country report. This time, choose a product or service that you might sell there. The choice of product will not be graded (there are no wrong options) so choose one that is interesting or easy to talk about for you.
Start your report with a sentence of the type "I want to sell (your product choice) in (country)." This is meant to keep you focused on information that is relevant for that product category. You will redo your old country report in light of your newly acquired knowledge about culture and your choice of product. This will mostly mean adding new information and using the right terms and concepts to discuss culture. It may require that you delete old information if you feel it doesn't belong in your new country report.
Think the type of actionable, relevant information that a manager would want if they knew nothing at all about the country and tasked you with putting them up to speed. It should be a short (approx. 3-4 single-spaced pages) bullet-point report of facts, two or three visuals are acceptable if relevant.
This time you are expected to use your knowledge of international marketing, in particular the lessons in the recent modules, to craft the report. Make sure to update your PEST Analysis based on any changes or new information. At the end of the report, add an OT (Opportunities-Threats) table based on the updated PEST. The submission must also include references, cited at the end of the write-up.
The challenge of this assignment is in summarizing an entire human community and reducing it to a considerably short list of sentences, numbers and visuals. You will be graded on how well you summarize a culture through a sound and validated set of dimensions such as the ones learned in this course.
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Germany
Demographics
· Population: It is the most densely populated country in the European Union, with a population of almost 83 million.
· Age Structure: Characterized by a population that is generally older, with a median age of about 47 years.
· Urbanization: Urban areas are home to more than 75% of the population, indicating a highly urbanized civilization.
· Education: The country has a workforce famous for its solid educational background and a high literacy rate of over 99%.
· Languages: English is widely used, especially in the corporate world, despite German being the official language.
Economic Factors
Gross Domestic Product (GDP):
· Germany is the fourth-largest economy in the world, with a strong GDP of more than $4 trillion.
Manufacturing Sector:
· • The nation still has a strong manufacturing sector that makes a sizable contribution to its GDP (26.6% in 2021).
· Automotive, machinery, chemicals, and electronics are important sectors of the manufacturing sector.
Exports and Export Orientation:
· • With exports making up a major share of its economic activity (48.4% in 2021) and Germany adopting an export-oriented economic strategy.
· •Major export items include machinery and automobiles (Orth, 2023).
Labor Force:
· • The greatest labor force in the European Union is found in Germany, which has a significant labor force of about 45 million people.
Labor Laws and Regulations:
· • Germany enforces thorough labor regulations designed to protect employees' rights and working conditions.
· These laws include clauses establishing a statutory minimum pay, guidelines for working hours, and safeguards against arbitrary termination.Top of Form=
Cultural Aspects:
· Values: Efficiency, punctuality, and dependability are qualities that Germans place a high importance on. Sustainability of the environment is also a major problem.
· Traditions: With a wide range of regional traditions, celebrations, and traditions, Germany has a rich cultural legacy.
· Symbols: Important symbols include the national eagle and the black, red, and gold colors of the German flag.
· Aesthetics: German design is known for its functionality and precision, reflected in products such as cars and machinery.
PEST Analysis
|
Factor |
Description |
|
Political |
· The EU's political climate is stable. · A robust regulatory environment for enterprises |
|
Economic |
· A robust economy with high purchasing power. · A productive manufacturing sector. |
|
Sociocultural |
· Value efficiency and high-quality products. · Increasing focus on sustainability. |
|
Technology |
· Advanced technology adoption in industries. · High digitalization levels in businesses. |
Market Demand Estimation:
For this report, let's consider the marketing of electric vehicles (EVs) in Germany.
Market Demand Estimation Methods:
· Historical Data Analysis: In order to forecast future demand, we will examine past EV sales data in Germany, taking into consideration the recent increase in the market share of plug-in EVs, which rose to 37% in August from 28.5% year over year (Holland, 2023).
· Surveys and Market Research: We will conduct surveys to learn more about customer preferences and their readiness to adopt EVs. Given the substantial pull-forward sales of fully electric vehicles that were seen prior to the incentives being tightened on September 1st, this is very pertinent.
· Competitor Analysis: We'll research the market share and business plans of Germany's current EV producers. Estimating future market demand requires a thorough understanding of the competitive environment, especially as interest in EVs grows.
· Government Policies: We will evaluate their effect on market demand in light of the shifting environment of governmental incentives and legislation encouraging EV adoption. These changing regulations might be partly blamed for the recent growth in market share for plug-in electric vehicles.
Proposed Country-as-Segments:
· Urban and suburban areas with high population density.
· Regions with strong environmental consciousness.
· Areas with good EV charging infrastructure.
Proposed Consumers-as-Segment – International Customer Persona:
Name: Eva Müller
Age: 35
Location: Munich, Germany
Occupation: Software Engineer
Demographics: Married, two children
Values: Concerned about the environment, values sustainability, and energy efficiency. Consumer Behavior: Recognizes the technological element of electric vehicles and prefers them due to environmental concerns. Interested in an EV that can accommodate a large family and has a long range.
References
Holland, M. (2023, September 7). EVs take 37% share in Germany — Incoming incentive tightening. CleanTechnica. https://cleantechnica.com/2023/09/07/evs-take-37-share-in-germany-incoming-incentive-tightening/#:~:text=August%20saw%20plugin%20EVs%20take,thanks%20to%20the%20pull%2Dforward
Orth, M. (2023, July 25). Germany as an industrialized country – the main facts. deutschland.de. https://www.deutschland.de/en/topic/business/germanys-industry-the-most-important-facts-and-figures
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Country reports build off each other. In each submission, you add information and make the assignment more complete. In some circumstances and following my feedback, you may remove information that was in your previous submission if it does not fit with the assignment.
Thus, your country report will become longer and more comprehensive with each submission. Each one of the three is still an independent assignment that is graded by its own merits.
Country reports should be:
Country report #1 2 single-spaced pages of actionable, relevant information with 1-2 visuals
✔ Country report #2 3-4 single-spaced pages of
actionable, relevant information with 2-3 visuals
✔ Country report #3 ~5 single-spaced pages of
actionable, relevant information with 4-5 visuals
✔
In addition to all the other information that you collect on the country and deem relevant, make sure that you include the following components:
Country report #1
Country report #2
Country report #3
A complete PEST table ✔ ✔ ✔ Clearly stated product to be marketed in the
country ✔ ✔ Demographics ✔ ✔
Values or consumption patterns. Relevant to the product chosen and expressed quantitatively. ✔ ✔
Traditions (rituals, beliefs), symbols or aesthetics. Relevant to the product and illustrated with visuals or explained with sufficient detail. ✔ ✔
A complete OT table based on the updated PEST analysis ✔ ✔
A detailed list of references ✔ ✔ One relevant table or figure from Passport
or About 10 quotes or findings from an interview
with a national of the chosen country. ✔
Estimation of market demand for the product chosen in the country following one of the
methods learned ✔ Proposed Country-as-segments
✔ Proposed Consumers-as-segment expressed as an
international customer persona ✔ A complete OT table based on the updated PEST
analysis ✔
Some references as a starting point for Country reports (We will go deeper during the Market Research module):
Passport Euromonitor (access through DePaul Libraries) https://www.cia.gov/the-world-factbook/countries/ https://data.worldbank.org/ https://www.countryreports.org/ https://www.doingbusiness.org/en/rankings https://www.transparency.org/en/ https://www.hofstede-insights.com/product/compare-countries/
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