The starting point for this assignment is your second country report. Keep the product or service chosen and everything else you have done up to this point. The goal of this assignment
The starting point for this assignment is your second country report. Keep the product or service chosen and everything else you have done up to this point. The goal of this assignment is to extend and correct your country report in light of your new knowledge.
* Expand your country report with one relevant table or figure extracted from Passport. In addition, these are other resources valuable for your research: World Bank Open Data, CIA World Factbook, Pew Research Center, OECD.stat, globalEDGE. Remember to cite all sources at the end. Alternatively (instead of the table/figure), interview a national of the country studied and list 10 short quotes or findings that are marketing-relevant from your interview.
* Next, use one of the methods learned on the recent module to estimate market demand for your chosen product in the country. Be transparent describing the sources and steps taken to arrive at your estimate, and conclude with a clear number (a range of numbers is acceptable). Like in a real job, you will be judged on how reasonable and well justified your estimate is.
* Then, create at least two country-as-segments; one will contain the country in this report, the other your home country. Which other countries could you add to each segment in a way that makes sense based on shared language, cultural affinity, geographical proximity, etc? For instance, the result may look like this… Segment 1: Somalia (your chosen country); Ethiopia, Kenya based on geographical proximity. Segment 2: United States (your own country), Canada, United Kingdom based on common language and cultural affinity.
- Represent your two (or more) segments with different colors in a world map like this: https://mapchart.net/world.html
- Finally, who is your typical consumer? Based on the information collected, you may have an idea of the type of consumer you are targeting, their values, beliefs. Make a very brief customer persona with demographic information (age, gender…), psychographic information (values, beliefs…) and behavioral information (product usage, other products consumed, rituals, habits…). Is this customer segment unique to the foreign country or is it also relevant in the home market? Is it a global, regional or unique segment?
This time you are expected to submit a medium (approx. 5 pages) report of facts, much of which will be repeated from the past report. One or two visuals are acceptable if relevant. More visuals or any extra information is welcome at the end of the report, after references, in an addendum.
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.
https://www.mapchart.net/world.html
I have attached country report 1 and 2 and rubrics.
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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Country Report Germany
Student Name
School
Course Title
Instructor Name
Due Date
Country Report – Germany
· I want to sell electric vehicles (EVs) in Germany.
· I will give an overview of the market dynamics in this study, taking into account Germany's cultural characteristics and how they affect the sale of EVs.
· The main objective of this study is to provide a manager responsible for comprehending the German EV market with practical information.
Market Overview
Factors Driving Growth in the German Electric Vehicle Market:
· Environmental consciousness among customers: Eco-friendly transportation solutions are becoming more and more important to German consumers.
· Government incentives: The German government offers significant tax reductions, subsidies, and access privileges.
· Technological developments: The market is growing thanks to ongoing innovation in electric car technology.
Dominance of Plug-In Electric Vehicles (EVs):
· Plug-in EVs have gained a significant market share in Germany, reflecting the broader trend of electrification.
Competitive Landscape:
· Key players include Volkswagen, BMW, Mercedes-Benz, and Tesla, which have invested heavily in EV technology.
· A wide range of electric models offered to cater to diverse consumer preferences.
Cultural Aspects Influencing Consumer Behavior:
· Sustainability and environmental awareness: German buyers are prepared to pay more for environmentally friendly goods.
· Stressing a lower carbon footprint can be a strong selling feature.
Quality and Engineering Excellence:
· German car buyers have high standards for build quality, safety, and performance. Securing German market share requires highlighting cutting-edge safety features and engineering.
Range Anxiety and Charging Infrastructure:
· Germans prefer well-maintained, high-speed highways, leading to concerns about range anxiety.
· A strong and accessible charging infrastructure is essential to alleviate consumer concerns.
Government Support for EV Adoption:
· Purchase subsidies: Government incentives make electric vehicles more affordable for consumers.
· Reduced taxation: Tax breaks on electric vehicles reduce the overall cost of ownership.
· Special privileges: Access to bus lanes in certain cities encourages EV adoption.
Leveraging "Made in Germany" Label:
· The "Made in Germany" label carries prestige and assurance of quality for German consumers.
· Manufacturers can emphasize local production or assembly, ensuring high standards of German engineering and craftsmanship (Singh et al., 2020).
Key Takeaways for Marketing and Sales Strategies:
· Use lower carbon footprint and environmental friendliness as selling points.
· To match the high expectations of consumers, emphasize safety features and innovative engineering.
· To alleviate range concern, highlight how easy and accessible charging points are.
· Keep abreast of government incentives to draw in budget-conscious customers.
· Make use of the "Made in Germany" trademark to increase market credibility and confidence.
PEST Analysis (Updated for EV Marketing)
Political Factors:
· The German government offers subsidies, lowered car taxes, and benefits like access to carpool lanes to encourage the adoption of electric vehicles.
· To make the most of these incentives, managers should keep an eye on governmental regulations and modify their marketing plans accordingly.
· German emission requirements and strict environmental rules encourage the manufacturing and purchase of electric vehicles (EVs).
· Changes in regulations can have a big impact on consumer preferences and market dynamics, so managers need to be aware of what's going on.
Economic Factors:
· Demand for premium EVs is driven by Germany's robust economy and high spending power.
· Since Germany is a hotspot for premium EV sales, managers must adjust their product offerings and marketing tactics appropriately.
· • The nation's manufacturing infrastructure boosts economies of scale by enabling effective EV production and export possibilities.
Sociocultural Factors:
· German customers' growing environmental consciousness is driving demand for eco-friendly items, such as electric vehicles.
· Why German customers can be effectively reached by marketing initiatives that highlight the environmental advantages of electric vehicles.
· Germans are open to new ideas and cutting-edge technologies since they have a technological orientation.
· To appeal to tech-savvy consumers, managers should emphasize the state-of-the-art features and advancements found in EVs.
Technological Factors:
· Germany's technological prowess facilitates the creation of sophisticated electric vehicles.
· Technological innovations such as smart connection features, powertrains, and battery technology should be encouraged by managers.
· The effective administration of EV charging infrastructure and smart technologies is facilitated by the high degree of digitization in German firms.
· Why By collaborating with companies and service providers, EV owners may improve their digital experiences and increase the convenience of owning an EV (Ahmad et al., 2018).
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Cultural Aspects
· Since efficiency is a fundamental value in German culture, EVs' energy efficiency makes sense.
· Stressing reduced operating expenses can be a strong selling feature.
· Germany places a strong cultural emphasis on environmental sustainability, which attracts consumers who care about the environment to EVs.
· The automotive heritage of Germany can be used to promote EVs as premium, well-engineered automobiles.
· Giving prospective EV purchasers a tour of Germany's long history of exceptional engineering inspires confidence.
· Using the black, red, and gold hues of the German flag in promotional materials promotes a sense of cultural identity and patriotism.
Customer Persona
· Name: Eva Müller
· Age: 35
· Occupation: Software engineer
· Location: Munich, Germany
· Family: Married with two children
· Core Values: Environmental consciousness and sustainability
· Specific Concern: Energy efficiency
· Consumer Behavior: Prioritizes electric vehicles (EVs) for their technological aspects and environmental benefits
· Key Criteria for EV: Eco-friendliness, family-friendly, extended driving range
· Buyer Archetype: Conscious and tech-savvy EV buyer in Germany
Opportunities-Threats (OT) Table
|
Factors |
Opportunities |
Threats |
|
Political |
Government incentives driving demand. |
Potential policy changes impacting EVs. |
|
Economic |
Strong economy and export potential. |
Economic downturn affecting consumer spending. |
|
Sociocultural |
Growing environmental awareness. |
Intense competition in the EV market. |
|
Technology |
Access to technological advancements. |
Rapid technological obsolescence. |
References
Ahmad, A., Khan, Z. A., Saad Alam, M., & Khateeb, S. (2018). A review of the electric vehicle charging techniques, standards, progression and evolution of EV technologies in Germany. Smart Science, 6(1), 36-53. https://doi.org/10.1080/23080477.2017.1420132
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
Singh, V., Singh, V., & Vaibhav, S. (2020). A review and simple meta-analysis of factors influencing adoption of electric vehicles. Transportation Research Part D: Transport and Environment, 86, 102436. https://doi.org/10.1016/j.trd.2020.102436
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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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