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User:Jukeboksi/BBA studies/Entering Target Markets
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= Theme 1 - Methods of internationalization = Teacher: Päivi Käri-Zein * A '''[[w:market entry strategy|market entry strategy]]''' is the planned method of delivering [[w:good (economics)|goods]] or [[w:Service (economics)|services]] to a new '''[[w:target market|target market]]''' and distributing them there. ( Wikipedia ) :'''''Some of the most common market entry strategies are''''': :::* '''directly exporting''' products :::* '''indirect exporting''' using a [[w:Reseller|middleman]], and :::* '''producing products in the target market'''. ( Wikipedia ) ::But also: :::* '''[[w:Licensing|Licensing]]''' :::* '''[[w:Franchising|Franchising]]''' :::* '''[[w:Greenfield project|Greenfield project]]''' :::* '''[[w:Joint venture|Joint ventures]]''' :::* '''Wholly owned [[w:subsidiary|subsidiaries]]''' :::* [[w:Alliances|Alliances]] :::* Turnkey project ( Wikipedia ) * '''[[w:export|To export]]''' means shipping the goods and services out of the port of a country. The seller of such goods and services is referred to as an "exporter" who is based in the country of export whereas the overseas based buyer is referred to as an "importer". In International Trade, "exports" refers to selling goods and services produced in the home country to other markets. ( Wikipedia ) *'''[[w:Global marketing|Global marketing]]''' is marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives". ( Wikipedia ) == Methods of internationalization - Lesson 1 - Export entry modes == '''Export modes''' - [[w:Export#Indirect selling|Indirect export]]ing vs. direct exporting Q: What kind of [[w:intermediary|intermediaries]] can help the company to export? How? :* Export Agents :* Export Management Companies :* Export Trading Companies :* Export Merchants :* Association with Another Exporter Q: What is the main difference between agent and distributor? :::*An agent is someone who acts on your behalf. Although an agent may arrange a sale, the sale contract will be between you and the customer. An agent may be either an employee or self-employed. :::*A distributor is a [[w:customer|customer]] of yours. The distributor then sells the product on to the distributor’s own customers. == Methods of internationalization - Lesson 2 - Requirements for internationalization == * '''[[w:Internationalization|Internationalization]]''' has been viewed as a process of increasing involvement of enterprises in international markets. ( Wikipedia ) Common types of '''[[w:intellectual property|intellectual property]]''' rights include :*[[w:patent|patent]]s :*[[w:copyright|copyright]] :*[[w:industrial design right|industrial design right]]s :*[[w:trademark|trademark]]s :*[[w:trade dress|trade dress]] and :*in some jurisdictions [[w:trade secret|trade secret]]s. ( Wikipedia ) == Methods of internationalization - Lesson 3 - Licensing and franchising == * The verb '''[[w:license|license]]''' or grant license means to give permission. The noun license refers to that permission as well as to the document recording that permission. ( Wikipedia ) * '''[[w:Franchising|Franchising]]''' is the practice of using another firm's successful [[w:business model|business model]]. The word 'franchise' is of Anglo-French derivation - from ''franc'' - meaning free, and is used both as a noun and as a (transitive) verb. :::For the franchisor, the franchise is an alternative to building '[[w:chain store|chain store]]s' to distribute goods that avoids the investments and liability of a chain. The franchisor's success depends on the success of the franchisees. The franchisee is said to have a greater incentive than a direct employee because he or she has a direct stake in the business. ( Wikipedia ) * '''Franchising''' can be described as co-operation between two legally and financially independent firms where one firm, the franchisee, pays the other firm, the franchisor, for the right to sell the franchisor’s product and/or right to use its trademarks and business format in a given location for a specific period of time. Franchising is an ongoing business relation-ship between the franchisee and the franchisor. ( Blair and Lafontaine (2011, 3-4) ) * How does the licensor make money? How does the [[w:licensee|licensee]] make money? == Methods of internationalization - Lesson 1 - Foreign direct investment == * '''[[w:Foreign direct investment|Foreign direct investment]]''' ('''FDI''') is a direct investment into production or business in a country by an individual or company of another country, either by buying a company in the target country or by expanding operations of an existing business in that country. Foreign direct investment is in contrast to [[w:portfolio investment|portfolio investment]] which is a passive investment in the securities of another country such as [[w:stock|stock]]s and [[w:Bond (finance)|bonds]]. ( Wikipedia ) * A '''[[w:parent company|parent company]]''' is a [[w:company|company]] that owns enough [[w:voting share|voting stock]] in another firm to control management and operations by influencing or electing its [[w:board of directors|board of directors]] ( Wikipedia ) * A '''[[w:subsidiary|subsidiary]]''', '''subsidiary company''', '''daughter company''', or '''sister company''' is a [[w:company (law)|company]] that is completely or partly owned by another corporation that owns more than half of the subsidiary's [[w:stock|stock]], and which normally acts as a [[w:holding company|holding corporation]] which at least partly or (when as) a parent corporation, wholly controls the activities and policies of the daughter corporation. ::::... The controlling entity is called its ''[[w:parent company|parent company]]'', ''parent'', or ''[[w:holding company|holding company]]''. ( Wikipedia ) :::* If shares == 100% wholly owned subsidiary :::* If shares > 50% subsidiary :::* If shares < 50% equity alliance * In many disciplines a '''[[w:Greenfield_project|greenfield]]''' is a project that lacks any constraints imposed by prior work. The analogy is to that of construction on greenfield land where there is no need to work within the constrains of existing buildings or infrastructure. ( Wikipedia ) * A '''[[w:greenfield investment|greenfield investment]]''' is the investment in a manufacturing, office, or other physical commerce-related structure or group of structures in an area where no previous facilities exist. ( Wikipedia ) * '''[[w:Mergers and acquisitions|Mergers and acquisitions]]''' (abbreviated '''M&A''') are both an aspect of corporate strategy, corporate finance and [[w:management|management]] dealing with the buying, selling, dividing and combining of different [[w:companies|companies]] and similar [[w:business organization|entities]] that can help an enterprise grow rapidly in its sector or location of origin, or a new field or new location, without creating a subsidiary, other child entity or using a joint venture. Mergers and acquisitions activity can be defined as a type of [[w:restructuring|restructuring]] in that they result in some entity reorganization with the aim to provide growth or positive value. ( Wikipedia ) :::From a '''''legal point of view''''', a '''merger''' is a legal consolidation of two companies into one entity, whereas an '''acquisition''' occurs when one company takes over another and completely establishes itself as the new owner (in which case the target company still exists as an independent legal entity controlled by the acquirer). ( Wikipedia on distinction between merger and acquisition from [[w:mergers and acquisitions]] ) :::Acquisitions take many forms ::::* horizontal = the product lines and markets of the acquired and acquiring companies are similar ::::* vertical = the acquired firm becomes supplier or customer of the acquiring firm ::::* concentric = the acquired company has the same market but different technology, or the same technology but different markets ::::* conglomerate = the acquired company is in a different industry from that of the acquiring company ( Heini ) * A '''[[w:joint venture|joint venture]]''' ('''JV''') is a business agreement in which the parties agree to develop, for a finite time, a new entity and new [[w:assets|assets]] by contributing [[w:Ownership equity|equity]]. They exercise control over the [[w:Business|enterprise]] and consequently share revenues, expenses and assets. :::There are other types of companies such as JV limited by guarantee, joint ventures limited by guarantee with partners holding shares. ( Wikipedia ) * '''[[w:Consolidation (business)|Consolidation]]''' of an industry or sector occurs when widespread M&A activity concentrates the resources of many small companies into a few larger ones, such as occurred with the [[w:automotive industry|automotive industry]] between 1910 and 1940. ( Wikipedia on Mergers and acquisitions )
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