REGIONAL MARKET: CHARACTERISTICS AND EXAMPLES - ECONOMY - 2025

A regional market refers to all the commercialization activities that take place in a certain place in a country, in which there are certain characteristics in common. This type of market corresponds to a freely determined geographical strip, which does not necessarily have to coincide with established political limits.

Regional market projects refer to the creation of an infrastructure in different territories of the country that have the favorable conditions to establish a comprehensive development strategy that diversifies and improves production activities in the areas of influence.

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It also tries to develop and propose the respective actions to improve the conditions of distribution and commercialization of merchandise through retail trade.

In this way, the final consumer will feel favored with a larger offer of products, with better price and quality conditions, thus helping the regional market with the well-being of the population.

With a good regional market, the less economically benefited regions have more opportunities to recover from their backwardness, because the prospects for economic development, price stability and employment are enlarged.

characteristics

- Existence of barriers that are not tariffs.

- Regulations and regulations by the national government and / or the region.

- Consumption patterns particular to the region.

- Specific characteristics of the client, such as preferences and expectations.

- Economic status of potential users.

- Culture of the region.

- Competitive offers.

- Stage of economic development in the region.

- Geography and climate of the area.

- With the implementation of a regional market, the decentralization of services and commerce is promoted and executed.

- Producers are organized so that they have greater negotiating power at the regional level.

Adaptation strategies of a global brand

It is difficult that what is done in a regional market can be extrapolated to the national market and much less to the global market, but inversely it is easier to do so.

That is, there are global strategies that can be applied nationally as well as regionally. For example, Coca-Cola is sold in all parts of the world, but it is also promoted nationally and also regionally throughout the world.

The adaptation strategy is based on adjusting the service or product to the different conditions and needs of each regional market.

It is based on the idea that the trend of the markets is to homogenize due to the influence of factors such as transport, technology and communications. It is based on considering that the market for a product is global.

Advantages of standardization

- Economies of scale: low costs and higher sales volume.

- Higher level of profitability.

- Lower marketing expenses.

- Greater participation in the world market.

- More competitive prices.

- Less time for investment recovery.

Regional market units

Industrial primary and commercial primary units

The primary industrial and primary commercial units are centers that are dedicated not only to agricultural production and the industrial sector, but also to their marketing.

Metropolitan territorial units

These units have an urban center that is dedicated to the manufacture of products and where the largest number of commercial activities are concentrated.

Rural agricultural units

They are areas with little agricultural and commercial development, which base their economy exclusively on primary activities.

Commercial primary units

The main activities are the marketing and distribution of products and services.

Examples

Regional gastronomic market

One of the economic activities that most characterize regional markets is their local gastronomic activity, in addition to the agricultural products of the region.

One of the things that should not be missed in each country is its regional food. For example, Spain is famous for the paella that is prepared in the Valencian region, for the fabada from the Asturian region, for the Galician and Madrid stew, etc.

Although international fast food franchises exist in all parts of this globalized world, you have to try the dishes of each region of a country almost obligatorily. What's the point of having lunch at KFC or McDonald's, when this can be done any day in our city?

Regional Irish Food Market

Irish cuisine will not be the same as French cuisine, but it is certainly very filling and tasty. Ireland is famous for its smoked dishes, mainly salmon, although there is also smoked chicken. It is also famous for Irish bread.

Markets with fresh produce are quite common. They are very good places to enjoy the local atmosphere and taste the different flavors from farmers and food artisans.

In these markets you can try organic fruits and vegetables, the best cheeses, meat, smoked salmon, as well as all kinds of pastry shops from the various regions of the country.

You can also go to the markets of the different towns. There you can enjoy farmhouse cheeses with great international reputation, such as St. Tola, Cashel Blue or Gubben.

In Ballycastle you must try the honey sweets, sold only at the Oul Lammas Fair.

In summary, in Ireland you must be attentive to markets and fairs in order to eat the best of that regional market.

McDonald's adaptation strategies

In some countries, discrepancies in consumer preferences and tastes, whether due to religious, cultural, habits, customs, as well as the different laws and regulations specific to each nation predispose the adaptation of products.

For example, McDonald's always tries to adjust its products to the different peculiarities of each regional market.

- In Japan, to facilitate identification, the McDonald character is called Donald McDonald.

- The McDonald's menu in Germany also includes beer, and in France it includes wine.

- In Mexico, among the appetizers are jalapeño peppers.

- In India no beef is offered in the burger, only chicken and soy meat.

References

1. Pima (2019). Regional Markets. Taken from: pima.go.cr.
2. Absolut Travel (2019). Regional markets, good products. Taken from: absolutviajes.com.
3. Uninotas (2019). Regional, national and global market. Taken from: uninotas.net.
4. Logistun (2019). Opportunities in globalization: regional markets in Europe and Latam. Taken from: logistun.es.
5. Veracruz State Government (2019). Regional Markets. Taken from: veracruz.gob.mx.