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This entirely revised and updated third edition of Market Entry Strategies continues to combine the profound explanation of internationalization theories and concepts with real-life firm cases. Reviewing the readers’ valuable feedback from successful previous editions this version targets to improve the readability. New firm cases of Delivery Hero and Tesla contribute to broaden the books’ industry focus. Particular attention is paid on the case studies developed to exercise in light of business practice what is theoretically taught and explained in the textbook. Through its link to digital learning tools such as charts available to the public at YouTube this new edition provides best pre-requisites for distance learning environments.
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.
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 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 2011 in the subject Business economics - Business Management, Corporate Governance, grade: A, State University of New York at Stony Brook, course: BA, language: English, abstract: Different market entry strategies can be used to enter a new market, these strategies include mergers, acquisitions, joint ventures, exporting, Greenfield project, strategic alliances, franchising/licensing and whole subsidiary ownership (Janssen 2004, p. 556). Some of the factors that influence the choice of a market entry strategy include price localization, trade barriers, competition, export subsidies and localized knowledge (Grunig & Morschett 2012, p. 151). Globalization and foreign direct investments have been vital in global expansion of companies (Hill 2005, p. 67). This study suggests licensing as a market entry strategy that could be adopted by Rodl & Partner in its entry to South Africa (Rodl & Partner, 2012). South Africa is one of the well known markets that have well developed accounting, auditing and consulting industry and this makes the selection a suitable one for Rodl & Partner. South Africa enjoys a stable and developing economy and this has been a key attraction for foreign investors.
This entirely revised and updated third edition of Market Entry Strategies continues to combine the profound explanation of internationalization theories and concepts with real-life firm cases. Reviewing the readers’ valuable feedback from successful previous editions this version targets to improve the readability. New firm cases of Delivery Hero and Tesla contribute to broaden the books’ industry focus. Particular attention is paid on the case studies developed to exercise in light of business practice what is theoretically taught and explained in the textbook. Through its link to digital learning tools such as charts available to the public at YouTube this new edition provides best pre-requisites for distance learning environments.
This textbook discusses the most important theories of internationalization, including Product Life-Cycle, Internalization, Location, Eclectic Paradigm, Uppsala, Network, and International New Venture concepts. These models are grounded to a considerable extent in the Transaction Cost Theory and the Resource-Based View as explained and illustrated in the book. Relevant market entry strategies, such as franchising, contract manufacturing, joint ventures, and others are explained and categorized in light of crucial determinants of international business decision making: hierarchical control of operations, the firm’s proximity to the foreign market, the investment risk, and the factor of time. What makes this textbook novel and unique? Its framework combines theories and market entry strategies: each topic is applied to authoritative, real-life business case studies. Complex issues are explained in a manner that results in understanding. Various illustrations and tables help the reader comprehend the point being discussed. The case study focus on Asian firms delivers interesting insights into modern high-technology industries and changing global business dynamics. Market Entry Strategies serves as a vital source for internationally oriented bachelor, master, and MBA programs with strategy, marketing, and management lecture modules. Consequently, this publication is highly recommended for students and scholars; but it is also useful for business practitioners seeking to gain competitive advantages in international business. About the Author Mario Glowik teaches Bachelor, MBA and Master courses in Strategic management, International management, Strategic management in China and Europe, and International and Asian business at Berlin School of Economics and Law in Berlin. Find out more about Professor Glowik and the second edition of his Textbook Market Entry Strategies on Youtube!
Seminar paper from the year 2016 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of Applied Sciences Essen, language: English, abstract: This term paper shall give an overview of different options to enter an emerging market and indicate a company about identifying the most promising market entry strategy. Which factors determine the market entry strategy for an emerging market? To answer these questions company and market specific factors in terms of emerging markets will be considered. E.g. company size, market potential or social and cultural differences might eliminate strategies already before. But are the chances opening up by entering an emerging market predominant and worth the risk? Following the introduction, the second chapter provides definitions of emerging markets and developing countries. Furthermore it illustrates the characteristics of emerging markets on the basis of the BRIC countries. In Chapter three factors affecting the decision for a market entry strategy are displayed. Moreover this chapter includes chances and risks of entering emerging markets. Chapter four explains different market entry strategies which are then critically analysed with regard to the previous findings in chapter five. On this basis chapter six provides the conclusion including answers to the afore-mentioned questions.