The industrialization process and market entry modes
6 important questions on The industrialization process and market entry modes
What are the 3 main reasons for a firm to internationalize ?
- Resource seeking = to have access to resources i don't have in my country
- Efficiency seeking = to improve production process by reducing costs
What are the market entry strategies ? (6 strategies)
- piggybacking = sell your products using anther company's distribution facilities (Daim)
- licensing = let a local company use your trademark/patent against a fee (Disney)
- franchising = licensing where the franchiser provides a standard package of products, ads, etc. (Subway)
- international alliances and joint ventures = business relationship established by 2 or more companies to cooperate and share resources and risks in achieving a common goal -> 70% of alliances are joint-ventures = require creation of a separate legal entity jointly owned by both firms (Renault-Nissan).
- Wholly Owned Subsidiary (WOS) = manufacturing and/or selling alone, acquisition or greenfield investment.
What are the 4 advantages of a joint-venture strategy ?
- Rapid extension on a market
- Less competition
- Economies of scale
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What is the general establishment chain model (= Gradual approach) when becoming international ? (5 phases)
2) Infrequent foreign marketing
3) Regular foreign marketing
4) International marketing
5) Global marketing
What is the Uppsala model ? (4 steps)
2) Export using independent agents
3) Overseas sales subsidiaries
4) Foreign production (Toyota produces in France to penetrate Europe)
What is the Born Global firms ? (6 criteria)
- Small
- Niche market
- Answer a specific need
- High technology manufacturers
- Able to export quickly products or services on a global basis using the Internet and communication technologies
- International background to be able to work in an international context
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
