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Consider the factors involved, including the market entry mode strategies that could be used, evaluate these factors, then offer recommendations to the British Safety Razor Company (BSR) on its forthcoming strategic planning.
- Essay length: 3584 words
- Submitted: 28/01/2005
The first 200 words of this essay...
Whether considering entering new international markets, or concluding that a revised strategy is needed for existing multi-national companies (MNC), the decisions to do so are based on numerous variants. This paper shall initially consider the factors involved, including the market entry mode strategies that could be used, evaluate these factors, then offer recommendations to the British Safety Razor Company (BSR) on its forthcoming strategic planning.
Variants and Factors
The fundamental reason for being in, or entering, a new market has to be potential demand (Arnold 2003). This in turn leads to opportunities for growth and expansion. Once demand has been established a business must consider both internal and external factors. Internally, consideration needs to be given to the overall goals and objectives, technology, product line, location and size (Bradley 1991). Does the organization seek market penetration in a select number of markets, or does it adopt a market skimming strategy, entering a large number of markets simultaneously? Managerial aspirations, experience and motivation are also relevant. Externally, and almost exclusively out of the business's control, are factors such as the market size and growth potential, the market's competitive structure and marketing infrastructure. The political and economic situation of both
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