European Market
The European market with a population of about 450 million comprises Albania, Andorra, Austria, Belarus, Belgium, Bosnia, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France , Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Russia, San Marino, Serbia and Montenegro, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, Ukraine and the United Kingdom.
Language and Cultural Differences
Organisations entering the European market need to overcome a range of language and cultural hurdles.
The impact of culture has long been recognised by marketing professionals in organisations that operate internationally. The necessity of understanding local forms of behaviour and the careful attention that must be paid to language used in advertising for international campaigns are the two most prominent areas where cultural differences reveal themselves.
The United Kingdom and Ireland share a common language and have a close cultural match to the USA and Canada. However, the UK is culturally different from Central Europe. For instance, there are four languages in Switzerland, three they share with neighbouring countries and one that is their native language.
When translating into European languages, it is essential to ensure that messages are translated and communicated correctly. Translation of a message into multiple languages can prove to be more difficult than it seems. A simple translation is not always enough. One example of this is from a well-known car manufacturer who launched a new model in Spain. The car was called the NOVA which when translated from Spanish to English means - NO GO!
Currencies
The principal currency is the Euro (€) which became legal currency on January 1st 1999 and since January 2002, exchange rates in the EU participating countries have become fixed. The Euro has not been adopted by all EU countries.
Demographics
For detailed information on any country within Europe please click https://www.cia.gov/cia/publications/factbook/geos/uk.html