The serene political environments, diverse cultures and a techno-savvy population only make the business environment better. The aforementioned political, economical, environmental, cultural and legal environments have made Australia one of the best markets in the world. This paper tries to identify the unique characteristics of Australia that enables it to have an excellent international marketing environment. It goes ahead to list the strengths, weaknesses, threats and opportunities for the various environments that influence international marketing in Australia. Table of Contents 1.0 Introduction 4 2.0 International Marketing Environment in Australia 5 2.1 The Economic and Financial Environment 5 2.2 The Political and Legal Environment 8 2.3 The Social and Cultural Environment 9 2.4 Technological Environment 9 2.5 Challenges and Opportunities 10 3.0 Conclusion 11 4.0 References 12 PESTEL Analysis of Australia 1.0 Introduction Australia boasts one of the most efficient capitalist economies in the world. In 2012 the Australian economy was ranked the 13th largest in terms of GDP, contributing over 1.7% of the world’s GDP for that period. Presently, the economy’s GDP stands at US $1.58 trillion with a total wealth of over US $6.4 trillion (DFAT, 2013). One of the main reasons for this startling performance is because of the freedom in the market. The Australian governments that have been in power since early 1980s have continuously liberalized the market. This has attracted more investors and as a result the Australian economy has largely been growing even when other countries were experiencing recession. In 2011 the Australian economy was found to be the third freest economy in the world with an index of 82.6. Due to this freedom the economy is favorable for entrepreneurs’ development. It boasts the largest number of entrepreneurs in the world, both internal and external (Jacka and Scott, 2013). The Australian economy is built on exports. According to the survey conducted by the International Monetary Fund (IMF), Australia is the 19th largest exporter and importer. Most of what is exported is from the mining sector followed by the agricultural sector. Mining has been the major contributor to the Australian GDP, nearly 10% of the GDP (DFAT, 2013). Australia mining sector produces exports natural gas, iron ore, petroleum and gold. The agricultural sector on the other hand produces mainly foodstuffs and wool and cotton. Apart from these the economy also exports service especially technology-based expertise and skills. The Australian economy is ranked the second in terms of the average wealth of individual adults. A study conducted in 2011 by Credit Suisse Research Institute placed Australia behind Switzerland and established that the average Australian has a wealth of US $397,000. It also placed Australia second in terms of the highest per capita income The economy also has an average GDP growth of 3.4% annually with 3.2% in 2011 and 3.8% in 2012 (Richardson, 2013). However, during the same period the poverty level increased by 1.6% from 10.2% to 11.8%. This has made the economy to be termed as a ‘two-speed’ economy. The inflation rate averaged at 2.5% since the turn of the millennium and the unemployment rate stood at 5.8%, the fourth lowest unemployment rate in the world according to the
PESTEL Analysis of Australia Name: Course: Professor: Institution: City and State: Date: Executive Summary Australia’s economy is one of the best in the world in terms of GDP, per capita income and the rate of unemployment. This has made investing and marketing in Australia a mouthwatering prospect for many international marketers…
Carrying out SWOT analysis involves specifying the objectives of the business venture and identifying the external and internal forces that are benevolent or malevolent to the business. The case of businesses which have thrived on SWOT analysis is inclusive of Catering and Ballroom Rental businesses.
The apparent strengths in the nursing profession are as follows: (1) continued reliance on the knowledge, skills and abilities gained through the course in terms of addressing the needs for direct patient care; (2) continued current high demand for the skills required of the profession (Dolan, 2011); (3) “science of nursing is always advancing, and a successful nursing career requires a commitment to learning and openness to change”.
The newer technology will be leaner, thus streamlining the company and making it quick to react to changes in he market. Innovation and diversification into other technologies will be required to maintain market leader status. Change in attitude towards distributors is needed to convince them that the company is not abusing its market leader position.
This is applicable to all the firms irrespective of the size and the time in business (Kurtz, 2010, p.406).
The cost structure of the food products is quite high. Also the product line of the company is
SWOT analysis also helps to determine the aspect of what is right or wrong with the products that a company produces (Mao, Su-Chen, uh-Min, 2013). The three major players in the smart phone company are Samsung, Apple and Huawei. The SWOT analysis of these companies
Founded in 1919, the company has spread into one of the largest corporate companies and can favorably compete with others in terms of financial and positional rating at the London stock exchange and is also a member of the FTSE 100 Index.