Strategies for a pan European market

Abstract

With 1992 on the horizon, there is a groundswell of interest in the coming 320 million strong market—destined to be the largest in the industrialized world. Corporations within the Economic Community (EC) are posed to profit from the much-needed expanded home market. A barrier-free Europe will not only offer them lucrative opportunities, but also the oppurtunity to improve their global competitive position. The dismantling of Europe's borders has also attracted corporations outside the EC into Europe. They too are looking to take advantage of the new unified market, and many of these corporations are rapidly adopting a pan European outlook and commitment. Although the impetus for 1992 came from the Commission, business must be prepared for the complexities, and make it work. Some companies are assessing the implications of the proposed programme. Others are already forging ahead planning new strategies and restructing their organizations. This article focuses on 1992 and changes in the way firms can expect to do business in the future. It is based on a literature review and a survey among 80 senior business executives. It centres on two issues: the probable environmental and consumer behavior changes, and the impact on marketing and overall corporate strategy in the future.