Market Entry for Exports
Let’s learn more about Market Entry for Exports.
- Recruitment of agents: Recruitment of agents allows an enterprise to expand the geographic reach of its product and service offerings, by appointing representatives to promote the business and generate additional orders.
- Appointment of distributors: Appointment of distributors allows an enterprise to expand the geographic reach of its product and service offerings and economize on shipping and promotional costs, by partnering with other enterprises located in the target market on marketing and sales initiatives.
- Joint venture arrangements: Joint venture arrangements are strategic alliances between firms based on joint investments of finance or other resources. Through these partnerships, expertise, technology, intellectual property, and finance may typically be acquired to enhance market entry and ultimately profits.
- Retail: Retail establishment of wholly or partially owned store outlets is one option for gaining a presence in an overseas market. Retail is a specialized business, requiring knowledge of the local business environment, legislation including labor laws and licensing requirements, regulations as well as common purchasing practices based on culture.
- E-Commerce: E-Commerce or electronic commerce involves establishing a global presence through a website on the world-wide-web (Internet). Based on the interconnectivity of millions of personal computers, the Internet provides the potential of 24 – hour access to millions of potential customers, everywhere in the world. Sites may function as ‘virtual’ product catalogs, or be fully enabled to process electronic payments for purchases.
- Licensing: Licensing refers to the practice of authorization by owners of intellectual property rights, such as patents, trademarks, industrial designs, and others, to allow users of these rights to make commercial use of the property, under specific conditions in return for an agreed compensation. The distinction is made between brand licensing and image licensing as different forms of licensing; which relate to brand names and images respectively.
