Every nation interacts with other nations. Sometimes that interaction is structured through various trade agreements. Other times it is more casual but there are no nations that are totally closed off from the Global Economy. Those interactions may have an impact on the success or failure of any new marketing strategy. Consider some of the following as you analyze the nation’s place in the Global Economy:
- What international trade agreements is this country part of?
- What is the country’s relationship to the WTO?
- Who are the country’s major trading partners?
- What does the country export?
- What does the country import?
- What trade barriers are in place in this country?
- How strong (weak) is the nation’s currency?
- How will global problems such as the slowdown in China’s growth or the falling price of oil impact this nation?
Here is what we want you to do with this assignment.
Dig deeper into the international data for example the WTO databases of trade barriers or the USTR report on trade barriers by country to get a sense of the trade barriers.
Look at their exchange rates to see if there is any exchange rate risk
What kind of trade agreements do we have with that country?
Who are the commercial officer contacts for that country at the US Embassy in that country?
What is the US Commercial guide for the country saying about potential in that country?
What are Foreign Direct Investment trends in that country and is it easy to move investments in and out of that country.
Country should be: United Kingdom
Product: The product is personal care product which will be of various kinds such as skin care products, toiletries and so on.
References with web links