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Sage Advice on Going Global Root's perspective is extremely insightful, and clearly the work of one who knows his topics from personal experience. It encapsulates what some of us have taken decades to learn through trial and error. --Larry D. Bouts, president, International Division, Toys-R-Us, Inc. The North American Free Trade Agreement, the new European common market, and the opening of Eastern Europe--among other recent geopolitical developments--have created unprecedented opportunities for American companies seeking to enter foreign markets. This guide offers executives practical advice, recently updated and expanded, on deciding which markets to enter, choosing a product for international distribution, designing an entry strategy, and developing an effective international marketing plan.
Im ersten Teil des Buches werden einschlägige Internationalisierungstheorien vorgestellt. Neben traditionellen Konzepten der Internationalisierung (z.B. Produktlebenszyklusansatz von Vernon, Uppsala Modell und Porter’s Diamant Ansatz) wird den moderneren Netzwerkansätzen (z.B. Systemansatz, New Venture bzw. Born Global und Entrepreneurkonzepte) besonderer Stellenwert eingeräumt. Im zweiten Teil werden Alternativen des internationalen Markteintritts (z.B. Exporte, Franchising, Joint Ventures, Auftragsproduktion und Direktinvestitionen) mit Bezug auf elementare Entscheidungsdeterminanten aus Sicht der Unternehmensführung, wie hierarchische Kontrolle, Marktnähe, Investitionsrisiko und dem Faktor Zeit, erläutert. Im empirischen Teil des Buches werden im Resultat einer Langzeituntersuchung Fallstudien asiatischer Firmen der Konsumentenelektronikindustrie, wie beispielsweise Samsung, Sony, Sharp, Matsushita (Panasonic), LG Electronics und TCL China, deren Organisationsstrukturen, Unternehmenskulturen, jeweilige Umsatz- und Gewinnentwicklung, sowie strategische Konzepte zur Marktdurchdringung in Europa erläutert. Ein Schwerpunkt bildet die Darstellung interner (z.B. diversifizierte Geschäftsfelder, vertikale Produktionstiefe) und externer Netzwerke (z.B. Joint Ventures, Zuliefer- und Abnehmercluster sowie Kapitalbeteiligungen) die aus Sicht des Autors wesentlich dazu beitragen, dass sich asiatische Unternehmen im Vergleich zu ihren europäischen Wettbewerbern der Fernsehgeräteindustrie (z.B. Grundig, Thomson oder Philips) in den letzten beiden Jahrzehnten wesentlich erfolgreicher am Markt positioniert haben. In diesem Zusammenhang werden Ziele, Erfolgsfaktoren sowie der strategische Einfluss der involvierten Partnerfirmen, einerseits in bilateralen japanischen Joint Ventures und andererseits, in europäisch - asiatischen Joint Ventures, über einen Zeitverlauf von mehreren Jahren untersucht. Das Buch liefert komplexe Hintergrundinformationen zur Entwicklung des europäischen Fernsehgerätemarktes. Im Ergebnis wird unter anderem nachgewiesen, dass Unternehmen mit den intensivsten Netzwerkaktivitäten auch gleichzeitig technologische Marktführer in ihrem Segment sind. Die Weiterentwicklung der Netzwerktheorie und die ausführlichen Fallstudien mit hohem Aktualitätsanspruch, der wichtigsten asiatischen Unternehmen der Konsumentenelektronikindustrie, prägen den besonderen Wert dieser Publikation. Auf der Basis der gewonnenen Erkenntnisse können darüber hinaus Chancen- und Risikopotentiale für andere europäische Branchen (z.B. Automobilbau) abgeleitet werden. Das in Englisch geschriebene Buch eignet sich hervorragend für Studierende international ausgerichteter Bachelor-, Master- und MBA Studiengänge und bietet vor dem Hintergrund eines globalisierten Wettbewerbs darüber hinaus relevante Industrieeinblicke für interessierte Entscheidungsträger aus Politik und Wirtschaft. The first part of the book introduces relevant theories of internationalization. In addition to traditional concepts of internationalization (e.g., the product life-cycle approach of Vernon, the Uppsala model, and Porter's diamond approach), particular attention is paid to the more modern network approaches of internationalization (e.g., systems, new venture/born global, and entrepreneur concepts). In the second part, alternatives for international market entry (e.g., exports, franchising, joint ventures, contract manufacturing, and foreign direct investments) are explained. These market entry modes are categorized according to decision determinants, such as hierarchical control, proximity to the market, risk of investment, and the factor of time, which are important from the point of view of the corporate management involved in international business. The empirical part of this publication, which is the result of a longitudional study, consists of case studies of Asian firms doing business in the consumer electronics industry. The cases of Samsung, Sony, Sharp, Matsushita (Panasonic), LG Electronics, and TCL China provide fundamental insights into the firms’ organizational structures, corporate cultures, respective sales volume, and earnings performance as well as strategic concepts for their market penetration in Europe. A main emphasis is placed on an understanding of internal firm networks (e.g., diversified business fields and vertical production depth) and external firm networks (e.g., joint ventures, supplier and buyer clusters as well as mutual capital interests). From the author’s view, these network grids fundamentally contribute to the fact that Asian firms have more successfully positioned themselves in the market within the last two decades compared to their European competitors in the television set industry (e.g. Grundig, Thomson, or Philips). The networking aims and success factors as well as the changing strategic influence over the years of the partner firms both in bilateral Japanese joint ventures and in European-Asian joint ventures are examined. The book provides complex background information about the development of the European television set market. The analysis demonstrates that firms holding the position of technological market leaders in their segment simultaneously indicate the most intensive network activities. The further development of the network theory and the detailed and up-to-date case studies of the most important Asian enterprises in the consumer electronics industry contribute to the value of this publication. Furthermore, on the basis of the knowledge gained from this study, chances and risk potentials can be derived for other European industries (e.g., automotive). The book, written in English, is suitable for internationally oriented bachelor’s, master’s and MBA programs. Additionally, against the background of worldwide competition, the publication at hand offers relevant industry insights for interested political and economic decision makers.
Research Paper (undergraduate) from the year 2003 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,9 (B+), Heidenheim University of Cooperative Education (Economic - International Commerce), course: International Commerce, language: English, abstract: “There will be hunters and hunted, winners and losers. What counts in global competition is the right strategy and success.” Heinrich von Pierer1 In business planning the globalization of the world market and the limits of domestic growth raise the question to what extent a foreign commitment should be considered if at all.2 In Germany these considerations are particularly underlined by the strong integration into the world economy. German enterprises obtain a third of their total revenue in foreign business, 25 % of all jobs depend on foreign trade.3 Contrary to expectations, going global is no longer subject only to large multinational companies. Due to saturation tendencies in the domestic market, global competition and the dependency on international key-account customers small and medium-sized enterprises (SMEs) have been faced with the need for international activities. 4 Considering the fact that SMEs account for 97,3 % of all German enterprises, generating almost 45 % of the total revenue per year, the importance of future growth potential becomes evident.5 In general, SMEs are referred to as the “backbone” of German economy and many of them, the so called “hidden champions” have successfully faced the challenge of entering foreign markets.6 Others have been afraid to take this step. For these, the need for adaptation remains and their continuity will depend on the competitiveness in the world market. In general, entering new markets is connected with a multiplicity of chances and risks. SMEs especially, tend to underestimate the importance of profound information and the need for a realistic estimation of own capabilities.7 Accordingly, it becomes necessary to focus on a SME specific approach which considers major evaluation criteria for carefully developing market entry strategies. 1 Dr. Heinrich von Pierer, President and Chief Excecutive Officer of Siemens AG: Quotation cp. ‘TheGlobalist’ (2000) 2 cp. Hoppen (1999:144) 3 cp. Statistisches Bundesamt (2001:1.6) 4 Due to the IFM in Bonn (2000) SMEs intend to increase their foreign sales from an actual average of 30 % to 50 % in 2020 5 cp. IMF Bonn (2000) 6 cp. Hibbert (2000:1) 7 cp. Brenner (1999:2 et sqq.)
Research Paper (undergraduate) from the year 2010 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,0, University of Applied Sciences Fulda, course: International Marketing Management, language: English, abstract: Globalization has increased the competition amongst firms. There are more and more companies which are motivated to conquer foreign markets and enlarge their presence on these markets. For multiple reasons, companies adopt modes to enter foreign markets and find new channels of distribution. Choosing the right and appropriate market entry strategy has a growing importance. As a matter of fact, companies should align their strategy to their objectives and adapt them to the foreign markets environment. There are numerous different entry strategies which are all linked to different entry modes, different amounts of risks or costs. From the least costly mode to the most expensive one we distinguish three main strategies: Export is characterized by the transportation of finished goods from one country to another. The distribution on site is done by an intermediary or by foreign based distributors or agents. Joint Venturing includes different characteristics of various joint contracts with firms to produce or promote services or products. Direct investment is, when a company decides to invest directly into a foreign country by either establish an assembly operation, a wholly-owned operation as well as a merge or an acquisition. Each of the market entry strategy has both, advantages and disadvantages. The less costly the strategy is, the less control the company has over the distribution channel. Consequently, the company depends more or less on foreign institutions or foreign partners. All in all a company has to figure out for itself which strategy to choose, according to its particular situation, financial as well as economical and environmental. Therefore, before entering a market, a previous comprehensive research and analysis of the target market and its economic environment is indispensable to achieve a successful launch into an unknown market.
Seminar paper from the year 2016 in the subject Business economics - Business Management, Corporate Governance, grade: 1.0, University of Applied Sciences Kempten, language: English, abstract: Multiple reasons can lead to the decision of a company expanding to a further and yet foreign market. Profit and growth goals, economies of scale or foreign market opportunities are just a few fundamental reasons. The aim of the present paper is to develop a realistic market entry strategy for Völkl Ski and Snowboard, to expand to the emerging country Argentina. The goal within this development is to detect how the structure of the company and the conditions in the host country influence the decision for an optimum market entry strategy.The core question convoying the research and also underlining the aforementioned problem potential can be formulated as follows:Is it possible for Völkl to successfully sell high quality products in a yet small market in a country being situated in a drastic political and economic change? Besides the company’s interest in exploiting market possibilities there can also be problems or threats in the home market resulting in a pressure to expand. For the process of the above named research question the first chapter of the paper implicates an introduction to the company Völkl, also identifying its state of internationalization. Further on the country Argentina will be analyzed by reference to the PEST approach. Additionally, the second chapter includes the study of the ski industry in Argentina, also revealing the strongest competitors in the market.
Seminar paper from the year 2012 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,0, Zhejiang University Of Science and Technology, language: English, abstract: During the last years the globalisation has increased the competition amongst the companies and made them more willing to enter foreign markets. Developing a market entry strategy is very complex and has long-term consequences for a company. Thus, choosing an adequate market entry strategy has an enormous importance. The present term paper is concerned with international market entry strategies especially for the Chinese market on the example of Volkswagen. In chapter two some theoretical basics of international market entry strategies are provided. In this sense, the term of international market entry strategy is defined and the motives for companies to enter foreign markets are analyzed. In chapter three the development of a market entry strategy for the Chinese market is examined. Therefore, the significance of the Chinese market will be shown at the beginning. Afterwards, the timing and the location of market entry will be explained. Finally, three forms of market entry will be presented. The fourth chapter creates a practical connection of the topic by explaining the market entry strategy of Volkswagen.
This book is intended to assist managers newly assigned to meaningful international responsibilities those with established positions, but looking for a primer on market-entry strategies, trade documentation, and the protection of a firm's international cash position. This short pragmatic text guides managers through the fundamental decisions necessary to access and serve new markets. The text also serves as a reference for the more granular' issues of trade finance. In the context of increasing levels of globalization and cross-border competition, the focus is on how managers can best position their firms for long-term sustainable profitability.
Essay from the year 2006 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 1st, University of Lincoln (Faculty of Business & Law), course: International Marketing Strategy, 39 entries in the bibliography, language: English, abstract: Market analysis is an important instrument in assessing the attractiveness of a particular market, since it is utilised to decide whether to enter a foreign market in terms of international marketing strategy. It is necessary to apply a market analysis in order to determine and examine the appropriate approach to enter a market. This essay provides a scan of the Thai market attractiveness for the Danish medium-sized enterprise Red//Green, in order to recommend a market entry strategy. The first section focuses on the application of the 12C framework in order to draw up a market attractiveness profile, combined with a risk evaluation of the Thai market. The second part determines the attractiveness of the Thai market with respect to the information and relevant factors gathered from the 12C model. Interpretation of those factors will then be used to allocate a determination of a suitable market entry strategy for Red//Green. In addition, a marketing strategy according to the 4Ps will be addressed to identify opportunities and possibilities of how to develop the Thai market.