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United Kingdom market’s attractiveness
Introduction
The United Kingdom, a sovereign state located on the northern part of continent Europe houses home to over 62 million people. The United Kingdom, also known as Britain constitutes mainly of Great Britain and Ireland. This is in addition to smaller islands that are in large numbers surrounding the named two main regions. Surprisingly, the United Kingdom upholds a rare type of governance in the world. The governance encompasses both constitutional monarchy state of rule and a parliamentary system. The two systems coordinate and work in harmony for the betterment of the country at large. Professional survey shows that Great Britain ranks among the top in the list of countries doing extremely well in terms of their economy in the world. Nonetheless, the country’ economic activities run from importation and sale of vehicles to exportation of various products such as aluminum goods (The heritage foundation, web).
Level of competition in aluminum market
The aluminum market in the United Kingdom consists of a significant category that mainly excludes secondary products. The primary aluminum products are made from alumina, which is the leading source of such products within the Great Britain. On the other hand, there are those products that come from recycled crap aluminum. These too create a percentage of the aluminum products but not a large portion of the market. Currently and in accordance to 2011 survey, the aluminum market generated $423.1 million, and the performance is expected to shoot by the time the market is four years older, that is by 2016 (Wood, web).
The psycho, cultural, geographic closeness
Psycho closeness: Market attractiveness in the United Kingdom relies on the network people have among themselves, this is in addition to hard work and determination for things to go right. Pretty much, in the Britain economy a lot depend on the working rate and style among the people within the market. With the right education, especially the higher education, and a dependable working force, the market bears enough pillars to stand out as attractive without a doubt.
Cultural: Culture in business is a highly crucial factor to observe as it highly affects business attractiveness in various ways. This highly applies in most cases where international trading is involved, and possibilities of different cultures meeting are high. For instance, Britain being a feminine state, women and men have the same business and working opportunities. In turn, this may have an immense effect on cultures that believe otherwise, for example, most Asia countries believe women are inferior to men.
Geographic: Just as recorded earlier, the United Kingdom is a sovereign state made up of two main regions with several surrounding islands. The regions are well interconnected by the well-built and maintained infrastructures that make transportation easy and communication quite efficient. Nonetheless, it is not a perfect market base with the geographic closeness quite efficient, but it makes business easy to execute.
The level of (potential for future) demand
Considering its massive size, Britain has a lot to offer in terms of market attractiveness. The customer base is quite wide and open to many products and services, thus making the market highly attractive (The heritage foundation, web). In addition, the economy is good on comparison to other countries; hence, adding value to the market attractiveness. In turn, the large population increases the market demand for various goods and services.
The markets viability
Britain’s market relies on the government’s actions to achieve and maintain a successful status despite financial crisis. Its viability is high on comparison to other countries a fact attributed to the government’s involvement of people within all regions of the country including the small towns. This not only helps in maintaining the economy’s stability but also makes the market worthwhile in making substantial investments (The heritage foundation, web).
Works cited
The heritage foundation. United Kingdom. 2012. Web. December 12 2012.
Wood Laura. “Research and markets: Aluminum in the United Kingdom.” Yahoo Finance. 2012. Web. December 12 2012.
