Start Up Watch Maker Company in Spain

Topics: Spain, Spanish people, Spanish language Pages: 7 (2589 words) Published: February 20, 2013
Fuerza Tiempo – Marketing Plan

Milan Bogic
International Marketing
May 10, 2012

Spain is a sovereign state and part of the European Union. It is located in southwestern Europe on the Iberian Peninsula. With the area of 504,030 square kilometers, Spain is the fourth largest country in the Europe, and second largest in Western Europe after France. Because of the location, during the history Spain had a lot of external influences, which made a culture in Spain as unique and with a big diversity. Spain has population of 46 million people. Capitol of Spain is Madrid; the rest important cities are Barcelona, Valencia, Seville, Bilbao, Malaga, Oviedo, PEST Analysis

Political Overview – the People’s Party was elected in the national election in November 2011 with overall majority with Prime Minister Mariano Rajoy at its head. People’s Party is conservative party, and their ideology is consisted of Christian democracy, Economic liberalism, and National Conservatism. Their political position is right wing. Spain is divided into 17 autonomous regions each with its own parliamentary government. The People’s party was elected because Spain got in economic crisis and old government lost all credibility, and people wanted to see some changes in economics, because Spain debt is big and they are on the edge of bankruptcy. Another problem for Spain is that people in Basque Country wants to make their own country, in last couple decades that made a huge problems for Spain. Recently, people from Catalonia proposed the same idea of their own country. Economical Overview – before the crisis Spanish economy was hugely depended on its booming construction sector, accounting for 16% in 2007, which is more than twice the European Union average. However, at the end of 2008 Spain entered recession. The economy contracted by 3.6% in 2009 and 0.3% in 2010, with unemployment rising to 20%. In 2011, Spain showed a small growth, just because it had some notable strength that assisted here recovery. But still Spain is fighting with robust banking system, and unemployment (every second young person is unemployed). Spain has a GDP of $1.414 trillion in 2011. Social Overview – firstly, Spain has a different working timetable than rest of Europe. The majority of businesses will close between 14:00 and 16:30, when is time for “fiesta” (lunch time with friends and family), and employees generally finish the working day at 20:00. Even if there are many different dialects in Spain, the main language in business is the Castilian Spanish. English is generally not spoken especially among small distributors and local companies. So companies from outside off Spain must be prepared for communicating in Spanish. Technological Overview – the IT sector in Spain worth close to $100 billion, but still modern IT system slowly penetrate SME’s, and as result of that Spain is behind the rest of western European countries. In 2008, Spain has been marked 7.7 out of 10 for business environment e-readiness in The Economist. Culture

The family is the basis of the social structure, and includes both the close and the extended family. Sometimes inside of the family they provide each other’s with financial and social support. It is not common anymore for family members to work in a family business. University education is general for everybody. Before Machismo (male dominance) was something that was characteristic for Spain; but that kind of culture is not anymore in Spanish society. The majority of Spaniards are Roman Catholic, but there is existence and acceptance of all other religions. Business Etiquette

Spanish people prefer to do business with those that they...
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