Market entry strategies

Description

The ways to enter a new market and their implications, namely; exporting via representatives, franchising to third parties, collaborating joint ventures, and opening of fully-owned subsidiaries and flagships.

Alternative labels

market entry plans
market entry tactics
market entrance strategies
market entry strategy

Skill type

knowledge

Skill reusability level

cross-sector

Relationships with occupations

Essential knowledge

Market entry strategies is an essential knowledge of the following occupations:

Optional knowledge

Market entry strategies is optional for these occupations. This means knowing this knowledge may be an asset for career advancement if you are in one of these occupations.

Chief marketing officer: Chief marketing officers manage the high level marketing operations in a company. They coordinate all the efforts related to the marketing, promotional, and advertising activities across units or geographical areas. They make sure that different activities aimed at creating awareness of products are profitable for the company. They take decisions and prepare reports on marketing projects and the costs they entail.
Business analyst:
Business analysts research and understand the strategic position of businesses and companies in relation to their markets and their stakeholders. They analyse and present their views on how the company, from many perspectives, can improve its strategic position and internal corporate structure. They assess needs for change, communication methods, technology, IT tools, new standards and certifications.
Business consultant: Business consultants analyse the position, structure and processes of businesses and companies and offer services or advice to improve them. They research and identify business processes such as financial inefficiencies or employee management and devise strategical plans to overcome these difficulties. They work in external consulting firms where they provide an objective view on a business and or company’s structure and methodological processes.
Marketing manager: Marketing managers carry out the implementation of efforts related to the marketing operations in a company. They develop marketing strategies and plans by detailing cost and resources needed. They analyse the profitability of these plans, develop pricing strategies, and strive to raise awareness on products and companies among targeted customers.
Business developer:
Business developers strive to improve the market share of companies in the market. They perform strategic analyses of the core advantages that a company’s products or services have to offer, they cooperate in the development of marketing campaigns for lead generation and support on sales efforts.

 


 

References

  1. Market entry strategies – ESCO

 

Last updated on September 20, 2022

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