Norway - Population - Research Paper Example

Norway – Demographics Norway is (CIA, . The country’s population is around 4.7 million as estimated in 2013. There is a large proportion of the total population that is below the age of 24 years i.e. almost, 30% of the total population (CIA, 2013). The gender mix of this group of population is almost equal between men and women. At birth, the gender distribution is recorded as 1.05 Male: 1 Female. Overall, this ratio is different for the entire population i.e. 0.98 Male: 1 Female (CIA, 2013).

This suggests that ARIO can target both male and female customers in order to generate best yield from its sales. Furthermore, 39.8% of the country’s total population is in the age group of 25-54 years (CIA, 2013). The population growth is slow recorded in 2013 at 0.33% (CIA, 2013). Therefore, any business must not expect any major shift in the demographic conditions of the country. Any strategy that is formulated and implemented at present could remain effective for next few years. These groups are considered to be the target market of ARIO that is launching its wristband collection in Norway.

Moreover, ARIO plans to launch its business in Oslo, which is the capital city of Norway, and it is important to highlight demographics of the city. The capital hosts a population of around .875 million individuals (CIA, 2013). The city portrays of the country’s heritage. However, in the recent years, the city socio-cultural setup has been very much affected by Western influences. The younger population of the country is following the contemporary trends (Oslo, 2013).The country spends 6.8% of its total GDP on education (CIA, 2013), which is significantly high amount of expenditure.

This also implies that a high proportion of the country’s population is literate and has access to all types of information. 100% of the population can read or write, which is phenomenal. This is crucial as ARIO depends upon the ability of participants of the targeted market to understand fashion trends and follow them in their purchases. It is understood that target population that has some form of education are more likely to be aware of fashion trends. There is no poverty found in the country as every individual in the country is living about the poverty line (CIA, 2013).

The country’s per capital GDP is $53,000 (CIA, 2013) that is very high and reflects people’s ability to generate income and spending in high volumes. Although, the country experienced a slowdown in its economy as an outcome of the recent financial crisis and economic downturn in major economies of the world, but it is back on track and performing really well for its citizens. ARIO can achieve success if it markets it products well to the right set of population at the right price. Moreover, it has been suggested that ARIO will launch its products in the major cities of the country therefore, it will be important to highlight the level of urbanization in Norway.

From the records, it can be noted that 79% of Norway’s total population lives in the urban areas. In addition, the annual growth rate of urbanization is 1.2% (CIA, 2013). ReferencesCIA. (2013). Norway. Retrieved March 29, 2013, from http://0-literati.credoreference.com.skyline.ucdenver.edu/content/entry/cia/norway/0?result=4Oslo. (2013). Retrieved March 29, 2014, from http://0-literati.credoreference.com.skyline.ucdenver.edu/content/entry/heliconhe/oslo/0