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¶ … foreign market. Use Powerpoint presentations I attached.
Strategies of entering a foreign market
Corporations are said to have become one of the most important forces in the world economy, not only by the volume of business they conduct at a transnational level but also through the influence they can exercise at the level of the national governments and regional economies. The examples are numerous and include some of the most important multinational companies in the software, car making, oil producing industries, or retailers. However, corporations developed from small businesses, with impressive initiatives, and great potential that they developed and then "exported" abroad. In this sense, some of the most complex marketing and business plans were initiated and strategies to enter foreign markets emerged.
There are several aspects to be taken into account when dealing with a successful strategy for entering a foreign market: the way in which a company decides to enter the market, the way in which it chooses that market, what are the risks, and what is the form of entering the market.
There are several ways in which a company can enter the market. It can impact the local market through the exports the company is making. Most transnational companies set the pace for their presence in a foreign country by exporting in that country and the examples range...
Other ways of entering the market include licensing or franchising to host country firms, strategic alliances through joint ventures with a host country firms, opening subsidiaries in the host country. Each and every one of these means has advantages and disadvantages related mostly to the particularities of the company and the country aimed. In this sense for instance, creating a joint venture with a local company may provide for the foreign company a substantial contribution in terms of better appealing to the local market because of the knowledge the local company has over the market; on the other hand however, the association with a local company may, in the case in which this association is not successful, harm the prestige of the foreign company on the local market as well as worldwide.
The risks that need to be taken into account when deciding to enter a foreign market are also related to the economic and political spectrum of the country as well as the firm's strategy and offering. Better said, for manufacturing companies, it is important to take into account when choosing areas of expansion for production the availability of the resources, both natural and in terms of workforce, as well as the legal framework that governs the use of such resources in the respective country. If not taken into account, such…
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Seneca Foods was founded in 1949 and is a producer of canned, frozen and bottled foods for the supermarket trade, often under store labels. In 2013, Seneca posted $1.27 billion in sales and net income of $41.4 million. The company is in the mature stage of growth for both itself and the industry, growing mainly with increases in population and inflation. The company's operations are subject to variability from weather,