Converging Trends within the European Union: Insights from an Analysis of Diffusion Patterns

Abstract

The unification of Europe offers major opportunities for firms providing products and services to the consumer market of nearly 400 million people. To capitalize effectively on these opportunities, firms must comprehend fully the changing macroenvironmental and consumer behavior trends in the European Union (EU). Recent research indicates that, though individual member countries differ substantially, convergence is increasing in the EU market. This observation requires a major revision in the marketing strategies of most firms; Pan-European marketing may be the name of the game for the future. This study empirically investigates changing consumer trends in the EU by comparing diffusion rates for new products introduced during the first and second half of the unification process. Managerial implications are drawn on the basis of the research findings.

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