The objectives of Global Marketing are to define the factors influencing entry into overseas markets and the method to enter the global market. A global firm is one that operates in more than one country and gains advantages in costs and reputation through R&D, reduction, logistical, marketing, and financial efforts that domestic competitors cannot access.
Factors Influencing Entry to Overseas Market Market Growth: The markets of the US, Europe, and Japan have become saturated with consumer goods such as automobiles and consumer electronics. Consequently, the growth of these markets is declining. In order to ensure sustained growth, companies are investing more resources in markets that offer significant growth potential.
Image Support Requirements: In certain industries, companies aiming to establish and maintain themselves as top global suppliers must have a presence in major markets. Flexibility: Marketing Barriers: Method
...s of Entry in Foreign Market 0 Exporting Indirect and Direct 0 Joint Venturing Licensing Contract manufacturing Management contracting Joint ownership O Direct Investment Exporting Indirect Export involves working with independent home-based international marketing intermediaries. Direct Exporting is done through the company's own branch, department, or trusted representatives or agents.
Joint Ventures involve the act of entering foreign markets by partnering with foreign companies to either produce or market a particular product or service.
The licensing method is a way for a company to enter a foreign market. It involves entering into an agreement with a licensee in the foreign market. This agreement grants the licensee the right to use a manufacturing process, trademark, patent, trade secret, or other valuable item in exchange for a fee or royalty.
The concept of contract manufacturing involves forming a joint venture
where a company collaborates with manufacturers in a foreign market to produce their product or provide their service.
In management contracting, a domestic firm provides management expertise to a foreign company in exchange for capital. Instead of exporting products, the domestic firm exports management services.
0 Joint ownership: A Joint venture is when a company partners with investors in a foreign market to establish a local business. In this venture, the company holds joint ownership and control. Direct Investment, on the other hand, involves entering a foreign market by setting up assembly or manufacturing facilities in that country.
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