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Entering Target Markets: Difference between revisions
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* A '''[[w:market entry strategy|market entry strategy]]''' is the planned method of delivering [[w:good (economics)|goods]] or [[w:Service (economics)|services]] to a new '''[[w:target market|target market]]''' and distributing them there. ( Wikipedia ) | * A '''[[w:market entry strategy|market entry strategy]]''' is the planned method of delivering [[w:good (economics)|goods]] or [[w:Service (economics)|services]] to a new '''[[w:target market|target market]]''' and distributing them there. ( Wikipedia ) | ||
:Some of the most common market entry strategies are: '''directly exporting''' products | :'''''Some of the most common market entry strategies are''''': | ||
:::* '''directly exporting''' products | |||
:::* '''indirect exporting''' using a [[w:Reseller|middleman]], and | |||
:::* '''producing products in the target market'''. ( Wikipedia ) | |||
::But also: | ::But also: | ||
::*[[w:Licensing|Licensing]] | :::* '''[[w:Licensing|Licensing]]''' | ||
::*[[w:Greenfield project|Greenfield project]] | :::* '''[[w:Franchising|Franchising]]''' | ||
::*[[w: | :::* '''[[w:Greenfield project|Greenfield project]]''' | ||
::*[[w: | :::* '''[[w:Joint venture|Joint ventures]]''' | ||
::* | :::* '''Wholly owned [[w:subsidiary|subsidiaries]]''' | ||
::* Turnkey project | :::* [[w:Alliances|Alliances]] | ||
:::* Turnkey project ( Wikipedia ) | |||
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* '''[[w:export|To export]]''' means shipping the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" who is based in the country of export whereas the overseas based buyer is referred to as an "importer". In International Trade, "exports" refers to selling goods and services produced in the home country to other markets. ( Wikipedia ) | |||
'''[[w:Global marketing|Global marketing]]''' is marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives". ( Wikipedia ) | *'''[[w:Global marketing|Global marketing]]''' is marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives". ( Wikipedia ) | ||
== Export entry modes == | == Export entry modes == | ||
'''Export modes''' - [[w:Export#Indirect selling|Indirect export]]ing vs. direct exporting | '''Export modes''' - [[w:Export#Indirect selling|Indirect export]]ing vs. direct exporting | ||
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* '''[[w:Consolidation (business)|Consolidation]]''' of an industry or sector occurs when widespread M&A activity concentrates the resources of many small companies into a few larger ones, such as occurred with the [[w:automotive industry|automotive industry]] between 1910 and 1940. ( Wikipedia on Mergers and acquisitions ) | * '''[[w:Consolidation (business)|Consolidation]]''' of an industry or sector occurs when widespread M&A activity concentrates the resources of many small companies into a few larger ones, such as occurred with the [[w:automotive industry|automotive industry]] between 1910 and 1940. ( Wikipedia on Mergers and acquisitions ) | ||