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Market Entry Strategies (Joint Ventures/Partnering (Reduced risk, Closer…
Market Entry Strategies
Exporting
Requires less investment
Try out on small scale - can stop exporting if wanted with little kick back
Cost efficient
One location as opposed to multiple
Joint Ventures/Partnering
Reduced risk
Closer control over production, marketing & business operations
Shared capital outlay - the money companies spend on assets
Better knowledge about local markets
Conflicts of interest between partners, such as profits, amounts invested, management, strategies
Licensing/Franchising
Access to more business markets than could otherwise be off limits due to government policy
Lower revenue
Minimal business costs
Less control over product and marketing
Wholly Owned
Lots of effort
Little known about surrounding market
Time consuming
Involves building a presence from scratch
Complete control