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Demographic

In: Business and Management

Submitted By sheepu
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a. Geography and demographics: location, climate, size, age distribution, education level, etc.

Since Trasluz Casual Wear, Std. wanted to expand their company in the international market, marketers can segment the group according to geographic criteria, such as nations, states, regions, countries, languages, cities, neighborhoods, or postal codes. Geographic Segmentation is important and may be considered the first step to expand in the international market, followed by demographic.

Demographic segmentation is dividing markets into different groups according to their age distribution, gender, the family life cycle, the income level of that certain country and the ethnicity or religion of the market. * Colombia is a country situated in the northwest of South America * Colombia has two seasons: summer and winter * Age structure * 0-14 years: 25.3% (male 5,998,645/female 5,720,229) * 15-24 years: 18% (male 4,243,251/female 4,099,299) * 25-54 years: 41.6% (male 9,515,723/female 9,720,894) * 55-64 years: 8.3% (male 1,796,050/female 2,051,948) * 65 years and over: 6.7% (male 1,293,258/female 1,806,000) (2014 est.) * Has a population of 45,745,783

b. Economic environment: Income levels, unemployment, infrastructure development, ease of doing business, etc.

Regarding the economic factors we choosed to analyze some indicators, such as: GDP and its growth, per capita index, laws on import of goods and services, taxation system (and eventual tax incentives), labor force availability, and easy of doing business index. This analyses will provide a broad overview of the markets the company wants to enter and will allow the managers to take better decision on its expansion, also the economic factors help the company to get a certain idea about how the market is growing up and the innovation that the different companies experience per day, also the economic factor contribute with the decisions that the company have to take to improve the international market.

c. Political and legal environment: political and legal systems, political risk, government policy toward trade and foreign direct investment, property rights and intellectual property right protection, corruption, political freedom, etc.

Regarding the political and legal environment factors, we agreed that the most important success factors for Trasluz in Colombia would be: * Government policty toward trade and foreign direct investment: these are really important for a international company that want to get into a new market. Before entering Colombia, we would have to assess how does the government there delas with investments from other countries, like Spain (where our HQ is located). Therefore, it is fundamental that the country incentivizes foreign companies to enter the market; or, at least, does not have policies agaist external capital and invesments. * Property rights and intelectual property rights: as we sell clothes, our design and unique brand may differentiate our products from other companies. As this uniqueness is a requirement for our successfulness in a new market, it is important to understand if there are clear, solid and enforced property rights in the country we are interested. Without these rights, we may struggle.
d. Cultural environment: cultural values, predominant religion(s), language(s), social class structure, customer preferences and tastes, other factors that may play a role in the design, packaging and marketing of your product/service.

Language is an important factor if you want to enter to a totally new market. Partial knowledge of language leads to misunderstandings and perhaps cultural pitfalls.

Social status is also an important factor to take into consideration. Since the clothes are characterized by elegance, quality and design the target group we focus is the upper or middle class. Lower classes who find it difficult to make will not buy these clothes to their children.

Cultural values: people living in a society will have a specific perspective on a certain type of clothing.

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