Domestic Economy Analysis (2000 words)
The product you select will be integrated into an existing economy. That economy will be very important to the success or failure of a marketing strategy. In some cases, a product may not depend on a macroeconomic analysis but that micro-economy still functions within the larger national economy. Some critical economic characteristics need to be considered:
- What is the size of the GDP? (Total and Per-Capita)
- What is the rate of unemployment?
- What is the rate of inflation?
- What is the growth forecast for the country’s economy?
- What talents does the labor force have?
- What is the age distribution of the labor force?
- What key resources does the country have?
- Are there critical concerns in the country as to its economic performance?
Here is what you need to do for this assignment:
- Provide a summary table of core economic data and growth rates for:
- Unemployment by race and gender and age, underemployed and long term unemployment
- Real GDP
- Stock Market Performance
- Budget Deficit
- Trade Deficit
- Exchange Rates
- Wage levels
- Inequality measures in income, education, assets
You can find some of this core data at the Economist link below or even the Euromoney link has good summary data:
- Situate the country on the policy cross (see handout)
- Read economic analysis about the country from credible sources such as research institutes or international organizations such as the World Bank, International Monetary Fund or OECD to provide a summary of economic risk in that country.