answer the question week 2

THE PRODUCT AND THE COUNTRY 2

The product and the country

MinatTech is a US electrotechnical component producer and trader. The firm supplies some of the country’s major electric wholesalers with its particular brands. The company’s product range comprises lighting trunkings, ladders, office trunkings, floor boxes among others. The company is planning to launch a new office trunking system in the final third of this year in an international market.
Question 1. I choose the product since it has some advantages beyond other office trunking systems in that the autonomy in mounting the scheme allows taking into deliberation the needs of the end-user and likely needs for furnishings or interior design, and the prerequisites of the types and number of outlets from the theoretic aspect of the designers and hands-on application of the workers. With the extension railings and the probability of truncation, the plastic build could be personalized to allow for distinct locations, thereby acclimating to the bends of any space. Moreover, conducting the installation of the artifact and understanding the constituents is easier due to the recognizable operational accessories which augment efficacy in designing and mounting, thereby lessening the risk of erroneous usage of accessories. (Marriage, G. (2019. The suave design and sturdy structure are designed to make it appropriate for higher-end customers due to its appearance and hit- tolerant, thereby enhancing its lifespan. Also, the PVC plastic utilized to construct the product is extremely resistant to corrosion, various chemicals, and fire because of its advanced chlorine concentration. Due to this, the product can be used in numerous types of projects and spaces.
Question 2. My country of choice for the introduction of the new product in Germany. Being the largest building market in Europe and having the major building stock in the continent, Germany proves to be the best country to introduce the current product. Due to the development of urban areas, the elderly populace, and lower mortgage levels, demand for housing, especially for smaller and centrally situated residences in urban areas is high. The country’s building industry is predicted to flourish by 2.3 percent between 2023 and 2024. (Pfnür, A. (2020). The growth in the sector will be backed up by the government’s aim of enhancing local connectivity. Due to this, bulk orders for the office trunking system will be most favorable which will mean profits for the company. According to……” Germany has a monochronic nation focused on attention to details, accomplishments, competition, and responsibilities.” These cultural attributes merged with an exceptional capability to produce and control lucrative businesses is the reason I choose Germany as the country in which to expand our business.
Question 3. Some of the key macro-environmental that will enhance the success of my proposal include;
a. Socio-cultural factors- A recent study indicated that most German people are satisfied with German buildings stating that “it is of rather good quality.” (Liu, B. (2018). Therefore, having local construction firms as clienteles utilizing the current product can be seen as somewhat of a guarantee of excellence from the current company’s standpoint. Moreover, the study showed that notwithstanding the contentment of the construction superiority, there is room for upgrading in the construction procedures and the level of accountability the constructor takes from their activities. This subject calls for effortlessly installable and long-lasting superior quality components- precisely the ones the current company is offering.
b. Economic factors- Germany continues to be the EU’s most economically and politically dominant member country. The country upholds a higher degree of business autonomy for its citizens and foreigners which will be crucial in ensuring the current company’s success. Moreover, being an affiliate of the EU, the nation has 45 special trade concurrences in force. The country has an openness to universal business and supports longstanding investment and competitiveness. Finally, the modern and well-functioning financial sector offers a complete array of services for its citizens as well as foreign business holders.
c. Environmental factors- green progressions are trending all over the world, irrespective of the sector. Customers are more conscious of the impacts on the environment occurring from the production procedures of some commodities. The construction sector is developing to be more material effective, meaning utilizing enduring and adaptable products that are simple to sort, disassemble and reprocess. (Liu, B. (2018). Thereby, the significance of raw material’s durability, sustainability, and at least recyclability at the slightest will be mounting in significance in future building trends and should be taken into deliberation.

References

Liu, B., Wang, D., Xu, Y., Liu, C., & Luther, M. (2018). A multi-regional input–output analysis of energy embodied in international trade of construction goods and services. Journal of cleaner production, 201, 439-451.
Marriage, G. (2019, September). Floors and penetrations. In Tall (pp. 227-241). Routledge.
Pfnür, A., & Wagner, B. (2020). Transformation of the real estate and construction industry: empirical findings from Germany. Journal of Economics, 90(7), 975-1019.