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Earthquake Bed Product in the Italian Market
An earthquake bed is a new product that elicited mixed reactions from the general public. However, it is highly necessary to assess the probability of the success of launching this product in a specific country. There are several factors that have to be considered. The main goal of this paper is to discuss environmental variables that have an impact on the customers decisions, using Italy as the example of a country where earthquake beds might be distributed.
All factors that have an impact on the performance of a company are called marketing environment variables. A company needs to learn about a market environment in order to cope with such issues (Dawson 2014). Environmental variables are divided into two categories. These are macro and micro environment variables.
The first factor relating to a micro market environment is suppliers. An earthquake bed is a new product on the Italian market. Hence, the innovativeness of this product, along with the absence of any competitive offers, can attract new buyers. Another significant factor is resellers. The effectiveness of a marketing strategy relies on distributors and their reputation. As an earthquake bed is a new product on the Italian market, there are no well-known sellers of this innovation. Therefore, it will take time to introduce this product to a broad audience.
Macro environment variables play a crucial role in the successful implementation of marketing strategies. The first factor is economic. An unfavourable economic climate affects the customers decision-making process. However, the Italian economy is one of the largest in the world. In 2016, the Italias gross domestic product was $1.8 trillion (Italy market overview 2017). Specialists say that the key economic indicators will be increasing in future years.
Another important factor is demographic. Age, an education level, lifestyle, and some other characteristics have a significant impact on the situation on a market. The Italian population is around 60 million (The Italian market environment 2017). However, most people are Italian. Hence, there is a little ethnic diversity what makes a purchasing power weaker. On the other hand, people between the ages of 15 and 54 comprise more than 50% of the population (Italy demographic profile 2017 2017). It is a positive factor for the development of a new market.
The most crucial aspect for distributing this type of product is a natural factor. The main purpose of an earthquake bed is to protect an owner from getting injuries in case of an earthquake (Around the world 2015). Italy is a seismically active region. Italians experienced many devastating earthquakes. Therefore, the introduction an earthquake bed to the Italian public might inspire a great interest.
In conclusion, the analysis of environmental variables on the Italian market shows that the launching of this product has a good chance of success. Taking into account micro and macro environmental factors, one may say it will be a very profitable enterprise. However, the quality and safety of the product are fundamental issues that could have a more significant impact on the favourable outcomes of this venture.
Reference List
Around the world 2015, Protection from an earthquake, online video. Web.
Dawson, J 2014, The marketing environment, Routledge, New York.
Italy demographic profile 2017. 2017. Web.
Italy market overview 2017. Web.
The Italian market environment 2017. Web.
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