Argentina Foreign Market Analysis
This Marketing Brief acts as an analysis into the nation of Argentina, the environmental factors and characteristics affecting the marketing mix, and its overall potential to become a foreign market for Australia. |
Introduction
Entering the international market is a challenging activity. Its inhabitants not only speak differently, but have different lifestyles and do business differently (Kautz, 2004, p. vii). However, if this market is approached in a methodical way, the resulting sales can be very rewarding. Part of the G20, Argentina is a popular target for global business. With a strong agricultural sector, abundance of natural resources, diversified industrial base, and a large middle class, Argentina provides many oppourtunities as a potential foreign market (Meyskens, 2009). This report will analyse the demographic and wealth characteristics in Argentina, how they affect the marketing mix and the overall potential of the nation as a foreign market for Australia.
Limitations to Research
As the Argentine census data used for the purpose of this research was collected in 2001, limitations within the research must be recognised as statistics could potentially be outdated. Information in regards to demographics and income are constantly altering, and as it’s been eleven years since the last survey was carried out, it is almost certain that data has changed.
Demographics (Age and Education)
Maximising marketing oppourtunities requires understanding the changes in attitudes, values, lifestyles and demographic trends (Kerin et al, 2008, p. 70). Argentina has a well-educated and highly skilled population. The nation has a very young demographic, with more than a quarter of the population being under the age of 14, while approximately 63% of the population are aged between 15-64 (Link & McCarthy, 2004, p. 103). Age frequently determines consumers’ needs and wants for a specific product, brand or service (Heibing, 2012, p. 75). When targeting the
Introduction
Entering the international market is a challenging activity. Its inhabitants not only speak differently, but have different lifestyles and do business differently (Kautz, 2004, p. vii). However, if this market is approached in a methodical way, the resulting sales can be very rewarding. Part of the G20, Argentina is a popular target for global business. With a strong agricultural sector, abundance of natural resources, diversified industrial base, and a large middle class, Argentina provides many oppourtunities as a potential foreign market (Meyskens, 2009). This report will analyse the demographic and wealth characteristics in Argentina, how they affect the marketing mix and the overall potential of the nation as a foreign market for Australia.
Limitations to Research
As the Argentine census data used for the purpose of this research was collected in 2001, limitations within the research must be recognised as statistics could potentially be outdated. Information in regards to demographics and income are constantly altering, and as it’s been eleven years since the last survey was carried out, it is almost certain that data has changed.
Demographics (Age and Education)
Maximising marketing oppourtunities requires understanding the changes in attitudes, values, lifestyles and demographic trends (Kerin et al, 2008, p. 70). Argentina has a well-educated and highly skilled population. The nation has a very young demographic, with more than a quarter of the population being under the age of 14, while approximately 63% of the population are aged between 15-64 (Link & McCarthy, 2004, p. 103). Age frequently determines consumers’ needs and wants for a specific product, brand or service (Heibing, 2012, p. 75). When targeting the
References: Brandman, J. (2000). Internet Penetration in Argentina. Global Finance, 14 (2), 18-18. Retrieved from http://search.proquest.com/docview/198845704?accountid=13380 Department of Foreign Affairs and Trade Dougherty, T. (2004). Argentina: Modern Nations of the World. United States of America: Lucent Books. Encyclopedia of the Nations. (2012). Argentina – Foreign Trade. Retrieved from http://www.nationsencyclopedia.com/Americas/Argentina-FOREIGN-TRADE.html Heibing, R Internet World Statistics. (2011). Argentina Internet Stats and Market Reports. Retrieved from http://www.internetworldstats.com/sa/ar.htm Kautz, G Kerin, R. A., McDonnell, J., Meyrick, J., Rod, M., Garrett, T., Rugimbana, R., Hartley, S. W., Rudelius, W. (2008). Marketing: The Core. Australia: McGraw Hill Books. Link, T., & McCarthy, R., (2004). Argentina: A Primary Source Cultural Guide. United States of America: PowerPlus Books. Meyskens, M. A. (2009). Argentina. Encyclopedia of Business In Today 's World. 70-71. Retrieved from http://sage-ereference.com/view/businesstoday/n39.xml Morrison, T Pinto, J. G. (2009). South America. Encyclopedia of Journalism. 1302-1307. Retrieved from http://sage-ereference.com/view/journalism/n358.xml