Problem:
On the global stage, economies develop at different rates. For example, countries tend to be labeled as more or less developed from an economic perspective. The development of countries has a great deal to do with their ability to promote, distribute, and properly identify the value of a product.
Explain the different levels of economic development in Spain.
How may the economic development influence your proposed marketing strategy for EduTot, the educational toy company, in this country?
Your response should include the following:
1) Identify the differing levels of economic development and explain what the differences mean to EduTot, and how the differences would affect distribution, promotion, and pricing strategies in the two potential expansion markets.
2) Explain how these economic levels may affect demand for EduTot products and services and for potential adaptations of the marketing strategy in the two potential expansion markets.