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European Commission (ed.) (2018). Doing business in the EU. Retrieved 10 May, 2018 from https://ec.europa.eu/info/business-economy-euro/doing-business-eu_en.
Glowik, M.; Smyczek, S. (2011). International Marketing Management: Strategies, Concepts and Cases in Europe. Oldenbourg: München.
Suder, G. (2011). Doing Business in Europe. 2nd Edition. Sage: London, California.

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Is an Europe-wide, standardized strategy a good approach to do business in Europe successfully? 

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Is an Europe-wide, standardized strategy a good approach to do business in Europe successfully? 

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•Only in some parts for certain standardized, homogenous products (some soft drinks, cigarettes, household cleaning products)
•Allows for cost savings through economies of scale

•Cultural, linguistic, geographic and social differences need to be taken into account!

Even though Europe is a (geographic) union with lots of similarities, there are also many challenges that need to be considered when doing business.

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Assessment of Product, Service and Environment

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Assessment of Product, Service and Environment

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Segmentation
•Different approaches, e.g. segmentation according to gender or age
•Important: Not every segmentation is useful! It must be differentiable and measurable

Political and legal conditions: Only partially harmonized

•Basic framework/ minimum requirements set by the EU legislation, e.g. employment contracts, intellectual property rights, contract rules, company law and corporate governance

•Differences in administrative factors, e.g. taxation rates, labor laws

Economic conditions, standard of living

•Low currency risk and transaction costs within EU

•Differences in personal/ national income, standard of living

•Stable economic conditions important for successful marketing

Demographic conditions

•Specific demand and characteristics regarding certain product/service even more crucial than size of populatio
•Significant segments for Europe: teenager segment (age 12 - 19) , senior citizen segment (age 70 onwards)

Sociocultural conditions

•Cultural diversity within Europe

•Culture is an important aspect as it determines the definition norms, values and consumer preferences
•Marketing needs to be adapted to natonal, functional and company cultures

Geopolitical and geo-historical conditions

•Influence on the positioning of a product
•E.g. instable political situation might change consumer behavior

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Market Analysis:

•Likelihood of cultural adaption

•Market size
•Market trends
•Business environment
•Distribution channels

•Taxes and duties etc.

Research tools:

•Qualitative market research

•Quantitative market research

•Observation tools

•Experimental tools

•Six Sigma Analysis

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•Single market

•Highly integrated market

•High level of competition (e.g. comparison of prices very easy)

•High level of standardization

•Ongoing European Integration