From the course: International Marketing Foundations

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PESTCL framework: Economic factors

PESTCL framework: Economic factors

From the course: International Marketing Foundations

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PESTCL framework: Economic factors

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- How many U.S. dollars will a gallon of gasoline costs you in Germany? To figure that out, you need to convert the currency in the European zone from euros to dollars. And since Germany sells gasoline by the liter, you have to do some more math, but we won't tackle the metric system right now. An important step in determining where and how to enter new markets is to understand the different economic structures, currencies, markets, and other geographies. Performing an economic analysis of another country is a two step process. The first can be done in the comfort of your own home or office. You start by reading the reports made available by the organization of economic cooperation and development at oecd.org. Check out the tab entitled Countries to look up the country of interest. If you want to dive really deep, you can check out this statistics tab. Websites such as cia.gov and buyusa.gov are also good sources of…

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