Effective Market Entry Strategy:
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Effective Market Entry Strategy
Securing A Market Stronghold and Building Advantage
International expansion is a powerful growth initiative for many companies. As growth tapers off in the home market, companies start looking outside to new, more attractive markets, including regional, international or global geographies. Market entry is not only an offensive strategy, but also a defensive measure of protection because it can help companies keep competitors away from their home market.
Companies attempt to enter new markets all the time, yet only one in four is successful in doing so. Failure in most cases carries implications that extend far beyond the newly targeted market opportunity. Because millions of dollars are usually spent and the reputation of the firm is often at stake, it pays to develop an objective view.
To overcome serious missteps, it helps to have a clear understanding of basic entry strategies, challenges, and a critical, proven path to success.
What You Will Learn
- The five basic competitive strategies
- Common challenges in venturing into new markets
- How to leverage competitive advantage
- Key drivers of successful market entry
- Selecting the appropriate entry mode
- How to formulate strategy
