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MARKET ENTRY TACTICS
CHAPTER 7
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2. Market Entry Considerations
Fig. 7.1 Environmental factors
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3. Product Market Expansion
Fig. 7.2 Product market expansion guide
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Success Factors
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5. Entering Foreign Markets
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6. Choosing Foreign Markets
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7. Choosing Foreign Markets
Fig. 7.3 Foreign market entry consideration
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Entry Strategy
Uppsala model – stages of development.
Transaction cost analysis – firm keeps what it can do cost-effectively, subcontracts everything else.
Location-specific factors: culture, economy, political situation, etc.
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Networking
Three components of networking:
Actors
Activities
Resources
Two types of networks:
Social network
Business network
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10. Entry Strategy Alternatives
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11. Entry Strategy Alternatives
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12. Entry Strategy Alternatives
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13. Characteristics of Strategic Alliances
The participants remain independent after forming the alliance.
The participants share the benefits of the alliance as well as control over performance.
The participants make ongoing contributions in technology, products, and in other key areas.
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14. Reasons for Strategic Alliances
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Partner Profile 15
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16. Alliance Success Factors
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17. Selecting the Entry Strategy
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Summary
Economic, demographic, competitive, political/legal, technological and social factors operate to affect market entry.
Firms can take current or new products to current or new markets.
Technology is both a key driver and a key success factor.
Positive management attitudes toward foreign markets entry are critical to success.
Choosing the correct market and the correct entry strategy is an iterative process.
Basic entry strategies for foreign markets are exporting, investment or contract.
Blocked markets require a long-term approach.
Careful selection of the partner and clear goals and communications are prerequisites to success.
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