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Global Marketing Management Essay

727 words - 3 pages

Global Marketing Management


Global Market Entry Strategies


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Target Market Selection Choosing the Mode of Entry Exporting Licensing Franchising Contract Manufacturing Joint Ventures Wholly Owned Subsidiaries Strategic Alliances

1. Target Market Selection

A crucial step in developing a global expansion strategy is the selection of potential target markets. A four-step procedure for the initial screening process: 1. Select indicators and collect data 2. Determine importance of country indicators 3. Rate the countries in the pool on each indicator 4. Compute overall score for each country


Choosing the Mode of Entry
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Franchisor and the franchisee Master franchising Benefits:  Overseas expansion with a minimum investment  Franchisees’ profits tied to their efforts  Availability of local franchisees’ knowledge Caveats:  Revenues may not be adequate  Availability of a master franchisee

5. Franchising (contd.)
Limited franchising opportunities overseas  Lack of control over the franchisees’ operations  Problem in performance standards  Cultural problems  Physical proximity


6. Contract Manufacturing

Benefits:  Labor cost advantages  Savings via taxation, lower energy costs, raw materials, and overheads  Lower political and economic risk  Quicker access to markets Caveats:  Contract manufacturer may become a future competitor  Lower productivity standards

6. Contract Manufacturing (contd.)
Backlash from the company’s homemarket employees regarding HR and labor issues  Issues of quality and production standards


7. Joint Ventures

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Cooperative joint venture Equity joint venture Benefits:  Higher rate of return and more control over the operations  Creation of synergy  Sharing of resources  Access to distribution network  Contact with local suppliers and government officials

7. Joint Ventures (contd.)

Caveats:  Lack of control  Lack of trust  Conflicts arising over matters such as strategies, resource allocation, transfer pricing, ownership of critical assets like technologies and brand names Drivers Behind Successful International Joint Ventures :  Pick the Right Partner

7. Joint Ventures (contd.)
Establish Clear Objectives from the Beginning ...

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