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The paper explores the German market through a situation analysis and a SWOT analysis. The paper discusses the market strategies to be used and the marketing mix and provides a financial evaluation of this market entry as well as an action plan. The paper concludes with an assessment of this firm's ability to compete in the German market.
Implementation and Control
Implementation and Control
From the Paper:"The economic environment for our product is relatively favourable in Germany. Hit by recession in late 2008 and early 2009, tallying four quarters of economic contraction in the process, the German economy grew last quarter and despite predictions of an overall contraction for 2009, is showing signs of recovery (Dougherty, 2009). If the rebound takes hold, it could reasonably be expected to trickle through to consumer products, which as in many countries have seen a dropoff in demand over the past year. Optimism aside, the German economy has not weathered the economic downturn as well as the Australian economy, a consequence of a tighter credit crunch than we have seen in the domestic market.
"The social environment in Germany is favourable for cosmetics, although growth has been hampered by the country's sluggish economy. A compendium of industry reports from trade magazines suggests that the country is most favourable for anti-ageing lines and for men's fragrances, both of which have demonstrated strong performance in recent years. The men's fragrance category has one of the highest penetrations in Europe, for example and in 2008 the market for men's cosmetics was expected to double in the next year (Stone, 2008). Demographically, Germany is ageing rapidly and this has resulted in a surge of demand for anti-ageing cosmetics (Pitman, 2006). Furthermore, organic cosmetics have an approximate market share of 4% (Organic Monitor, 2006), a high figure that indicates a minor social trend towards fully organic lifestyles. Private label cosmetics are the most rapidly growing price category for cosmetics in Germany, where private label goods run at about 25% market share in many consumer categories (Pitman, 2006)."
Sample of Sources Used:
- Gillespie, Andrew. (2007). Foundations of Economics: Additional Chapter on Business Strategy. Oxford University Press. Oxford, United Kingdom.
- European Union. (2008). Bilateral Trade Relations: Australia. European Union. Retrieved September 3, 2009 from http://ec.europa.eu/trade/issues/bilateral/countries/australia/index_en.htm
- Department of Foreign Affairs and Trade. (2009). Summary of Australia's Trade. Government of Australia. Retrieved September 3, 2009 from http://www.dfat.gov.au/PUBLICATIONS/stats-pubs/mtd/australia_trade_0906.pdf
- Dougherty, Carter. (2009). Europe's Surge Signals Hope for Economic Recovery. New York Times. Retrieved September 3, 2009 from http://www.nytimes.com/2009/08/14/business/global/14euro.html
- Pitman, Simon. (2006). German Cosmetics Market Continues to Struggle. Cosmetics Design. Retrieved September 3, 2009 from http://www.cosmeticsdesign-europe.com/Products-Markets/German-cosmetics-market-continues-to-struggle
Cite this Marketing Plan:
Competing in the German Market (2012, January 30) Retrieved March 06, 2021, from https://www.academon.com/marketing-plan/competing-in-the-german-market-150242/
"Competing in the German Market" 30 January 2012. Web. 06 March. 2021. <https://www.academon.com/marketing-plan/competing-in-the-german-market-150242/>