Environmental Analysis For Potential Markets

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1. Environmental Analysis for Potential Markets.
1.1 Economic Conditions

- Economic Environment
Gourmet Lovers will be venturing its olive oil brands to the potential overseas market in Italy. Gourmet lovers business enterprising in Italy is a great opportunity in enhancing the success of the olive oil product range.
The economics condition of Italy is reported to have the world’s ninth largest economy. Italy’s economic business structure relies mainly on its service, manufacturing and other important contributors such as wholesale, retail sales and transport. The services sector accounts for almost three quarters of total GDP and employs around 65% of the country’s total employed people (focus economics, 2016). Therefore, the percentage rate for Italy’s Industry, reports that a quarter of Italy’s total production and employments rates make up 30% of the workforce. As well, Italy’s manufacturing specialises in high quality goods and is mainly run by small – medium enterprises. Therefore, Gourmet Lovers would benefit in exporting its goods to Italy because they are one of the largest economies and has the central role of global trade and financial system. Also Italy plays an important role in the global market of luxury goods.
-Key Economic Indicators
Population –
Italy is the officially the Italian republic, which is a unitary parliamentary republic in Southern Europe. Italy has a population of 60.8 million (2014) and its capital is Rome (DFAT, 2014). Italy’s population

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