Economic And Trade Analysis: The United Kingdom
The United Kingdom for its small size has a large population; its population has over 66 million people. The UK (United Kingdom) is a well-developed international country, and it provides to the United States the second largest market for service exports. In 2014 the estimated GDP of the UK was $2.8 trillion, putting them at the sixth largest economy in the world.
“The United Kingdom remains the number one overseas market for travel to the United States with nearly 4 million UK travelers estimated to have visited the United States in 2014,” This statement assumes that a small portion of the British people has heard of or even taste Chick-fil-a; this creates name recognition for Chick-fil-a within in small portions …show more content…
The UK has a well-developed distribution channel; as a result, it makes opening businesses in the United Kingdom easier to achieve. Exports of the UK’s goods and services have increased 99.8% while imports took an increase of 111.5%. The rate growth of foreign direct investment is also increasing; from 2013 to 2014 it increased 11% with a record number of 887 projects, more than any other European country.
According to export.gov, the UK has no significant trade or investment barriers and no restrictions on the transfer of capital or repatriation of profits. The few barriers that exist are almost all attributable to UK implementation of EU Directives and regulations.
Political and Legal Analysis:
The political relationship between the United Kingdom and the United States could be described as a close and strong relationship. There is no other closer ally to the United States than the United Kingdom.
A close coordinance with the United States is what British foreign policy emphasizes with the United States. Bilateral cooperation reflects the common language, ideals, and democratic practices of the two nations. …show more content…
“People cope with this situation by being reserved and hesitant in public, politely ignoring strangers, quietly minding their own business, and marking out and defending their private spaces, homes, and gardens. They expect others to do the same.”
Marketing implications expect all marketing and advertising to be an accurate description of the product or service, legal, decent, truthful, honest, socially responsible not encouraging illegal, unsafe or anti-social behavior.
Two types of advertising regulations
First is advertising to consumers, “the Consumer Protection from Unfair Trading Regulations means you can’t mislead or harass consumers by, for example: including false or deceptive messages, leaving out important information, and using aggressive sales techniques.” (insert here)
Second is advertising to businesses; “advertising to businesses is covered by the Business Protection from Misleading Marketing Regulations. As well as being accurate and honest, you must not make misleading comparisons with competitors that include: using a competitor’s logo or trademark or something very similar; and comparing your product with a competitor’s product that’s not the same” (insert here)
Target Market and Competitive