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International marketing 4200 - Research Paper Example

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This includes a higher estimate of immigration of non-citizens compared to previous estimates. However, the main emphasis is on the age group between 20 and…
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Marketing 4200 Age Based on the 2005 census, CIA estimated that United Arabs Emirates would have an estimated total population of 5,314, 317. This includes a higher estimate of immigration of non-citizens compared to previous estimates. However, the main emphasis is on the age group between 20 and 49 years, which is the target population for the new product. According to GMID data on the nation, the age group between 20 and 49 has a total population of 921,000 individuals, constituting about 17.33% of the current population. This group is large enough to facilitate the sale and growth of the new product despite the seemingly low percentage. The nature of the new product ready for introduction to the market conforms to the taste and preference of this age group (CIA). The population in the target group is the power consumers of the new product as it suits their lifestyle.
Income
According to a recent survey in UAE, both residents and expatriates use about 19.59% in communication and transport, while food, drinks, and beverages constitutes about 14,91% of the household income. These figures correspond to the target age group, between 20 and 49. The survey further shows that the average household per month is 11,241.20 Arab Emirate Dollars. The purpose of the survey was to study the spending patterns and distribution on major services and commodities to help define social and economic policies. The results of the survey show that the average national household expenditure and income has increased to exceed double that of non-national households. The report indicates that the average monthly expenditure for national is AED 22,989, while the average income if AED 36,438.10. On the other hand, non-nationals have an average expenditure of AED 9,645.40 and an income of AED 15,074.30. Majority of the working population falls under the target age group between 20 and 49 years, accounting for 43.40% of the workforce (CIA).
Occupation
According to the CIA records, the labor force of eth country falls under three major occupations, which include agriculture, industry, and services. Agriculture employs 7% of the workforce, the industry takes 15% of the labor market, and services takes the remaining 78%. The new product targets the industry occupation, which accounts for 15% of the entire workforce. The CIA records further indicate that the total UAE labor force is about 4.111 million, with 85% of the force being expatriates. This then implies that the total target population in the industry occupation is 616,650, (4.11m by 15%). This is a large enough population for new product, considering the fact that other occupations may use the product but in a relatively small scale. The market analysis takes the industrial occupation as base of market analysis, but the nature of the product is not necessarily restricted to the industry occupation. This allows the new product to operate on a worst-case scenario setting to determine its success or failure in the market, as well as provide suggestions for improvements or amendments (CIA).
The three demographics are very important in determining the income and expenditure behaviors of the target group, as well as other social and economic characteristics of this age set. This provides important data in unveiling the new product in the market and significantly assists in bridging the gap to achieve an ideal consumption behavior as far as the new product is concerned.
Work Cited
CIA. United Arabs Emirates. Web, April 29, 2012. (https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html) Read More
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