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After reviewing your chapter and Murphy’s 2012 article about culture and the individual in the decision process to expand overseas, consider the following:
**Think about a new business venture that you might choose to create. If you were to consider targeting foreign markets as goals of your new venture, what strategy might you choose to apply to do so?
**Why would you choose one strategy over the other (take into account what product or service you might sell and in which country you may do so)?
Remember to use in-text citations and list APA style references to support your response.
Cite at least 2 creditable references.
Your well written paper can be in One page only.
Respond to at least 2 other students’ original posts .. 50 words ( Add point and ask question)
would venture into a procurement business where I can be buying and selling merchandise. I would use the process to ensure the clients receives the goods, at the best possible prices. To achieve, this, I will identify the manufactures of specific goods with the best price putting into consideration other significant aspects such as quality, quantity, time, as well as location (Bonner & Rahemtulla, 2013). I would form a cooperation that involves the public bodies to clearly define the processes that can promote fair as well as open competition for my business at the same time minimizing risk, like the exposure to fraud besides collusion.
I would employSegmentation strategy. Such a strategy in a local marketing is commonly done at the buyer level. Nonetheless, considering my marketing will be international, I will consider it useful to see countries as segments (Paliwoda, 2013). It will allow my decisions to be focused on specific aspects of countries as well as avoid information load. I would therefore take into considerations that variations within some countries for example Brazil, which are very large meaning the averages should not be focused on since they are not meaningful. I would perform country level segmentation majorly on the basis of geography, population growth, population age dispersal, educational realization and income (Bonner & Rahemtulla, 2013). The reason I would choose one strategy over the other due to considerations of which strategy best fits my business. Additionally, selecting a strategy that can easily and effectively be adopted and give good results would be significant to the business overseas.
There are a variety of ways in which a company can enter a foreign market. No one market entry strategy works for all international markets. Direct exporting may be the most appropriate strategy in one market while in another you may need to set up a joint venture and in another you may well license you’re manufacturing (BlueSteps, 2011). There will be a number of factors that will influence your choice of strategy, including, but not limited to, tariff rates, the degree of adaptation of your product required, marketing and transportation costs. While these factors may well increase your costs it is expected the increase in sales will offset these costs.
When I think for new business venture in total different place, there are number of ideas which come in mind after I think for to open a date shoe in USA. As per my country there are very high quality dates and very interesting way to start direct export in USA.
Direct exporting is selling directly into the market you have chosen using in the first instance you own resources. Many companies, once they have established a sales program turn to agents and/or distributors to represent them further in that market. Agents and distributors work closely with you in representing your interests. They become the face of your company and thus it is important that your choice of agents and distributors is handled in much the same way you would hire a key staff person. It’s pretty simple – you sell directly to the market that you’re trying to break into. For example, if I want to sell to USA, I get my product into the appropriate USA stores and see how it does. My friends in direct exporting are my agents and distributors. These people are the branch between me and the stores. I will try to get a foothold with a major USA store as a foreigner is a lost cause, but with a reliable agent/distributor (and translation services company) on my side, it’s not! In fact, it’s easy… my agent/distributor have most of the contacts I need to succeed.
Of course, you’ll have to work out shipping logistics and everything else of that nature – but on the surface, direct exporting is very similar to selling products in your domestic market
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