Question

Consider a company/organization) that is U.S. based but has potential to enter a foreign market (or one that is in the U.S. and other countries but has potential to expand to a country that it is not in). Answer these questions:

1. Which market entry strategy would be a good option for this company/organization considering what product/service it markets and its current business approaches and strategy

Answer 1

The methods that can be used for entering in the foreign market are :

1 partnering - it can take variety of forms from a simple co marketing arrangement to a sophisticated strategic alliances for manufacturing. Partnering is particularly useful strategy in those markets where the culture, both business and social is substantively different than your own as local market knowledge , contact and if chosen wisely customer.

2joint venture - they are particular form of partnership that involves the creation of a third independently managed company. Two companies work together in a particular market, either geographic or product and create a third Company to undertake it. Risks and profits are shared equally.

Sustainable marketing is a way to build relationships with consumers while letting them know that they are important and do are future generations. While it is a developing field , sustainability market is an important piece of marketing strategy. There are five common strategies for sustainability marketing . These include

1 consumer orientated marketing

2 customer value marketing

3 innovation marketing

4 sense of mission marketing

5 societal marketing