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Market Entry Strategies (Export (Low Cost (Would not need to set up any…
Market Entry Strategies
Hierarchical
High Cost
Start up production site and sales force
High Risk
No guarantee investment will pay off
High Control
Still hold ownership on everything
Low Flexibility
Large investment so hard to pull the plug
Export
Low Cost
Would not need to set up any facilities or hire staff
Low Risk
Investment is low so risk is low
High Flexibilty
Ties to market will be limited so easy to pull plug
Low Control
Little control of how they market or sell because you will have to outsource.
Trade barriers
Piggybacking
Service that you sell to large domestic firms that are currently involved in foreign markets
Approach them to see if your product or service can be included in their inventory for international markets.
Low Risk
Investment is low so risk is low
Low Cost
Larger firm is marketing your product