methods_of_entry_in_a_foreign_market

May 19th, 2016
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METHODS OF ENTRY IN A FOREIGN MARKETFirms rarely assess correctly the markets characteristics, its potential and particularly, theadvantages and disadvantages of a given method of entry, and instead base their entry strategy ona chance encounter at a trade show with a foreign agent or a distributor, or enter a joint venturewith a partner met through casual business acquaintances. Unfortunately, those decisions end upoften being improper. Countless headaches can be avoided if the correct strategy is determinedearly on, using as many pieces of information as possible. These include;a) The size of the market. While there is no easy rule, the method of entry is different for amarket in which combined sales amount in millionsb) The growth of the market. A stable market growing at a moderate rate, will call for adifferent entry strategy than one in which there is substantial potential for growthc) The potential market share of the exporter. A market in which the exporter can become amajor player will call for a different strategy than one in which the exporter has nochance to be more than a niche playerd) The type of the product. Products with technology and a need for after-sale service andparts will require a different entry strategy than a disposable consumer goode) The market strategy of the firm. Although self-evident, a firm whose strategy is toprovide a top of the line product will have a different entry strategy than one which haschosen to be the lowest

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