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Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/1
MARKET ENTRY STRATEGIES
Session 7
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/2
MARKET ENTRY METHODS & THE LEVELS
OF INVOLVEMENT IN INTERNATIONAL
MARKETS
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/3
SUCCESSFUL MARKET ENTRY #1
• Criteria for Selecting Appropriate Market
Entry Method
– The company objectives and expectations relating
to the size and value of anticipated business
– The size and financial resources of the company
– Existing foreign market involvement
– The skills, abilities and attitudes of the company
management towards international marketing
– The nature and power of the competition with the
market
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/4
SUCCESSFUL MARKET ENTRY #2
• Criteria for Selecting Appropriate Market
Entry Method
– The nature of existing and anticipated tariff and
non-tariff barriers
– The nature of the product itself, particularly any
areas of competitive advantage, such as
trademark or patent protection
– The timing of the move in relation to the market
and competitive situation
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/5
RISK & CONTROL IN MARKET ENTRY
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/6
INDIRECT EXPORTING #1
• Domestic Purchasing
– Foreign organisation purchases the product for export to
another country
– Gives access to and limited knowledge of the international
market
– Little control over choice of markets entered
– For longer term, need a more proactive approach
• Export Management Companies / Export Houses
– Specialist companies act as the export department for a
range of companies
– Help SMEs to initiate/develop/maintain international sales
– Deal with documentation, government regulation
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/7
INDIRECT EXPORTING #2
• Piggybacking
– An established international distribution network of
one manufacturer used to carry products of a
second
– Particularly good for firms from developing
countries
– Often poorly considered terms and conditions
• Trading Companies
– Their extensive operations and controls enable
operation in more difficult trading areas
– Manage countertrade activities
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/8
THE COMPONENTS OF THE EXPORT
MARKETING MIX
EXPORT
MARKETING
MIX
Product:
Selection, development &
sourcing
Pricing:
Policy, strategies, discount
structures & trading terms
Promotion:
Corporate promotions & local
selling, trade shows & literature
Distribution:
Sales force management,
agents, distributors & logistics
Services:
Market research, training &
sales servicing
Finance & Administration:
Budgets, order processing, insurance & credit
control
Technical:
Specifications, testing &
product quality
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/9
IMPORTANT FACTORS FOR SUCCESSFUL
EXPORTING
• Commitment of the firm’s management
• Exporting approach emphasising the skills base
• Good marketing and information
communication system
• Production capacity & capability, product
superiority, competitive pricing
• Effective market research
• Effective national export policy
Source: Katsikeas et al (1996)
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/10
SELECTION CRITERIA FOR FINDING A
SUITABLE AGENT
• Financial strength of the agent
• Their contacts with potential customers
• The nature and extent of their
responsibilities to other organisations
• Their premises, equipment and
resources (including sales
representatives)
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/11
ACHIEVING SATISFACTORY
MANUFACTURER-AGENT RELATIONSHIP
• Achieving Satisfactory Manufacturer-agent
Relationship
– Allocate time and resources to find a suitable
agent
– Ensure that both understand what each expects of
the other
– Ensure that the agent is motivated to improve
performance
– Provide adequate support on a continuing basis
– Ensure that there is sufficient advice and
information transfer in both directions
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/12
REASONS FOR SETTING UP OVERSEAS
MANUFACTURE
• Product
– avoiding problems, e.g.
perishability
• Services
– Dependant for success on
local intellectual property,
knowledge &sensitivity
• Costs of transporting and
warehousing
• Tariff barriers and quotas
• Government regulations e.g.
local investment
• Market
– Local manufacture viewed
favourably by market?
• Government contacts
• Market information feedback
• International culture in firm
• Local manufacture
– faster response and just-in-
time delivery
• Lower labour cost
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/13
MINIMISING THE POTENTIAL PROBLEMS OF
LICENSING #1
• Develop a clear policy and plan
• Allocate licensing responsibility to a
senior manager
• Select licensees carefully
• Draft the agreement carefully to include
duration, royalties, trade secrets, quality
control and performance measures
Sarathy et al (2006)
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/14
MINIMISING THE POTENTIAL PROBLEMS OF
LICENSING #2
• Supply the critical ingredients
• Obtain equity in the licensee
• Limit the product and territorial
coverage
• Retain patents, trademarks, copyrights
• Be an important part of the licensee’s
business
Sarathy et al (2006)
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/15
FOREIGN MANUFACTURING STRATEGIES
WITH DIRECT INVESTMENT
• Reasons for investment in local
operations
– To gain new business: local production
demonstrates strong commitment
– To defend existing business
– To move with an established customer
– To save costs: e.g. labour, raw materials
and transport
– To avoid government restrictions
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/16
Who provides what in partnerships between firms
from developed and developing countries
Use with INTERNATIONAL MARKETING STRATEGY:
Analysis, development and implementation 5TH
edition ISBN 13: 978-1-84480-763-5
Published by Cengage Learning DOOLE AND LOWE ch7/17
DRIVING FORCES FOR THE FORMATION &
OPERATION OF STRATEGIC ALLIANCES
• Insufficient resources
• Pace of innovation and market diffusion
• High research and development costs
• Concentration of firms in mature industries
• Government co-operation
• Self protection
• Market access

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Ch7

  • 1. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/1 MARKET ENTRY STRATEGIES Session 7
  • 2. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/2 MARKET ENTRY METHODS & THE LEVELS OF INVOLVEMENT IN INTERNATIONAL MARKETS
  • 3. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/3 SUCCESSFUL MARKET ENTRY #1 • Criteria for Selecting Appropriate Market Entry Method – The company objectives and expectations relating to the size and value of anticipated business – The size and financial resources of the company – Existing foreign market involvement – The skills, abilities and attitudes of the company management towards international marketing – The nature and power of the competition with the market
  • 4. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/4 SUCCESSFUL MARKET ENTRY #2 • Criteria for Selecting Appropriate Market Entry Method – The nature of existing and anticipated tariff and non-tariff barriers – The nature of the product itself, particularly any areas of competitive advantage, such as trademark or patent protection – The timing of the move in relation to the market and competitive situation
  • 5. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/5 RISK & CONTROL IN MARKET ENTRY
  • 6. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/6 INDIRECT EXPORTING #1 • Domestic Purchasing – Foreign organisation purchases the product for export to another country – Gives access to and limited knowledge of the international market – Little control over choice of markets entered – For longer term, need a more proactive approach • Export Management Companies / Export Houses – Specialist companies act as the export department for a range of companies – Help SMEs to initiate/develop/maintain international sales – Deal with documentation, government regulation
  • 7. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/7 INDIRECT EXPORTING #2 • Piggybacking – An established international distribution network of one manufacturer used to carry products of a second – Particularly good for firms from developing countries – Often poorly considered terms and conditions • Trading Companies – Their extensive operations and controls enable operation in more difficult trading areas – Manage countertrade activities
  • 8. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/8 THE COMPONENTS OF THE EXPORT MARKETING MIX EXPORT MARKETING MIX Product: Selection, development & sourcing Pricing: Policy, strategies, discount structures & trading terms Promotion: Corporate promotions & local selling, trade shows & literature Distribution: Sales force management, agents, distributors & logistics Services: Market research, training & sales servicing Finance & Administration: Budgets, order processing, insurance & credit control Technical: Specifications, testing & product quality
  • 9. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/9 IMPORTANT FACTORS FOR SUCCESSFUL EXPORTING • Commitment of the firm’s management • Exporting approach emphasising the skills base • Good marketing and information communication system • Production capacity & capability, product superiority, competitive pricing • Effective market research • Effective national export policy Source: Katsikeas et al (1996)
  • 10. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/10 SELECTION CRITERIA FOR FINDING A SUITABLE AGENT • Financial strength of the agent • Their contacts with potential customers • The nature and extent of their responsibilities to other organisations • Their premises, equipment and resources (including sales representatives)
  • 11. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/11 ACHIEVING SATISFACTORY MANUFACTURER-AGENT RELATIONSHIP • Achieving Satisfactory Manufacturer-agent Relationship – Allocate time and resources to find a suitable agent – Ensure that both understand what each expects of the other – Ensure that the agent is motivated to improve performance – Provide adequate support on a continuing basis – Ensure that there is sufficient advice and information transfer in both directions
  • 12. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/12 REASONS FOR SETTING UP OVERSEAS MANUFACTURE • Product – avoiding problems, e.g. perishability • Services – Dependant for success on local intellectual property, knowledge &sensitivity • Costs of transporting and warehousing • Tariff barriers and quotas • Government regulations e.g. local investment • Market – Local manufacture viewed favourably by market? • Government contacts • Market information feedback • International culture in firm • Local manufacture – faster response and just-in- time delivery • Lower labour cost
  • 13. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/13 MINIMISING THE POTENTIAL PROBLEMS OF LICENSING #1 • Develop a clear policy and plan • Allocate licensing responsibility to a senior manager • Select licensees carefully • Draft the agreement carefully to include duration, royalties, trade secrets, quality control and performance measures Sarathy et al (2006)
  • 14. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/14 MINIMISING THE POTENTIAL PROBLEMS OF LICENSING #2 • Supply the critical ingredients • Obtain equity in the licensee • Limit the product and territorial coverage • Retain patents, trademarks, copyrights • Be an important part of the licensee’s business Sarathy et al (2006)
  • 15. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/15 FOREIGN MANUFACTURING STRATEGIES WITH DIRECT INVESTMENT • Reasons for investment in local operations – To gain new business: local production demonstrates strong commitment – To defend existing business – To move with an established customer – To save costs: e.g. labour, raw materials and transport – To avoid government restrictions
  • 16. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/16 Who provides what in partnerships between firms from developed and developing countries
  • 17. Use with INTERNATIONAL MARKETING STRATEGY: Analysis, development and implementation 5TH edition ISBN 13: 978-1-84480-763-5 Published by Cengage Learning DOOLE AND LOWE ch7/17 DRIVING FORCES FOR THE FORMATION & OPERATION OF STRATEGIC ALLIANCES • Insufficient resources • Pace of innovation and market diffusion • High research and development costs • Concentration of firms in mature industries • Government co-operation • Self protection • Market access