ePortfolio final submission
- 1. ePortfolio Final Submission A BRIEF PRESENTATION OF MY EPORTOFLIO
- 2. Introduction I. Topic II. Research Questions III. Sources IV. Favorite ePortfolio Page
- 3. I. Topic
- 4. As you may know, to maximize profits, medium or large sized companies or businesses often choose to enter the international market by either export their products directly, offshoring or create a Joint Venture with another company in the same field. Depends on their size, type of industry and the capital they have, companies can choose between many types of Market Entry Strategies, among mentioned strategies, the most popular ones are:
- 5. Market Entry Strategies 1. Direct Exporting 2. Joint Venture 3. Licensing (Apple Accessories) 4. Franchising 5. Turnkey Project
- 8. Licensing
- 9. Franchising
- 10. Turnkey Project
- 11. Important Factors 1. Size of the company 2. Company’s goals 3. Type of product or service 4. Resources 5. Investment 6. Risk level 7. Competitors 8. Flexibility 9. Laws and Regulations 10. Time 11. Target Market
- 12. Those are ones of the most important factors that the company must consider before deciding what type of entry strategy they want to use. For example, to maximize the profit and reduce production costs, companies like Coca-Cola, Hewlett Packard, and other manufacturers chose to offshoring their manufacturing plants, offshoring means to relocate the business process to a foreign country, in this particular case, they chose China to offshore their manufacturing plants. While other companies in the foodservice industry, notably McDonald’s, Starbucks, Burger King, Subway, etc. chose franchising as their market entry strategy. In brief, every company out there has a competitor, for them to successfully compete in the international environment as well as domestic environment, a deep analysis of target market and strategies is the key to have a competitive edge other competitors.
- 13. II. Research Questions 1. How to choose a target market? 2. What are the strategies we can use to enter that market? 3. What markets are in trend?
- 14. III. Sources 1. Mullen, Michael R. (2009). Foreign Market Analysis. Irish Marketing Review, 20(1), 47-56. 10p. CRAP Test Currency: This article was published in 2009 Reliability: Article was written by a notable Fulbright profesor in a neutral, un-biased language. Accuracy: The info he uses come from either academic sources (books of other authors, reviews of Oxford and Harvard University, newspaper articles) or government/NGO sources (statistical agency) Purpose: The purpose of the article is to give readers a neutral view of international market and to provide useful tools in order to analyze it. Professor Mullen has more than 50 refereed articles in leading academic journals and proceedings that have been cited more than 1,200 times (Google Scholar).
- 15. Summary The article is a brief guide of how to analyze the foreign market by using information from secondary sources such as newspapers, statistical data issued by government or reliable NGO and the internet. Once information are gathered, you can then use Excel spreadsheets and graphs to compare them with one another; total population, GDP growth, GNI, inflation rates and population pyramids are some great indicators to predict market trends and expecting growth of the market in the future.
- 16. 2. Holtbrügge, D. and Baron, A. (2013). Market Entry Strategies in Emerging Markets: An Institutional Study in the BRIC Countries. Thunderbird International Business Review, 55(3), 237-252. CRAP Test Currency: The article was written in 2013 Reliability: This article was written by Professor Dr. Holtbrügge is Professor of International Management (Head of Department) at the School of Business and Economics, Friedrich-Alexander-University of Erlangen-Nürnberg, Germany. And Baron is a PhD Candidate, Department of International Management, School of Business and Economics, Friedrich- Alexander-University Erlangen-Nürnberg. The language they used in the article was neutral and can be used for academic purposes. Accuracy: The info he uses come from either academic sources (books of other authors, journals published by reliable publishers: , newspaper articles) or government/NGO sources (statistical agency) Purpose: The purpose of this article is to give readers a brief analysis of the emerging markets, in this particular case is the BRIC which contains Brazil, Russia, India and China. Holtbrügge He has published seven books, eight edited volumes and more than 70 articles in refereed journals such as Academy of Management Learning & Education, Asian Business & Management, Business Strategy and the Environment, European Journal of International Management, European Management Journal, and many others.
- 17. Summary The study provides a great market analysis and comparison between the 4 countries within the BRIC (Brazil, Russia, India and China) and investigate the relationship between market entry strategies and market success. The authors also develop hypotheses using data collected from internet surveys of 564 firms that are operating in the BRIC countries. The result of this study finds that market entry modes and the length of operation have a significant positive effect on market success. They also suggest investors to seek country with stable economy and politic: China has the most stable political and economical condition among the BRIC, while India has tense relationships with Pakistan and Bangladesh; and recently, Russia, which is under economic sanctions by EU and US.