•Highly integrated market

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

•High level of standardization

•Ongoing European Integration

•Likelihood of cultural adaption

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

•Taxes and duties etc.

•Qualitative market research

•Quantitative market research

•Observation tools

•Experimental tools

•Six Sigma Analysis

•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

•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

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

•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.