市场进入战略的商务管理论文.docx
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市场进入战略的商务管理论文.docx
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市场进入战略的商务管理论文
市场进入战略的商务管理论文
启航论文
不假思索的进入市场这一选择约束了公司的生产与销售战略,因此,进入方式是一家公司进入新市场必须制定的一项最基本的决策。
经济全球化趋势的加强,很多跨国公司都把目光集中于新兴市场,比如巴西,中国和印度。
这些地方拥有丰富的原料市场能够为资本累计积累条件。
这一做法的主要原因是新兴市场有着能够形成高利润和投资机会的潜力。
新兴经济体的主要吸引力就是其对于生活消费品的需求量正快速的增加,并且有着很高的经济增长速度。
这些新兴市场国家对于外商直接投资也有着更大的吸引力。
全球大多数的跨国企业都试图进入新兴经济体的国内市场,从当地较低的生产成本中获取好处。
跨国公司就是这样一直以来都设法发展不同的战略和新的业务来完成他们的期望。
新兴经济通常都十分的不稳定是由于产业结构,体系和宏观经济的不断变化。
这种不稳定性为有灵活战略来应对变化和抓住新商机的跨国公司提供了巨大的竞争优势。
作出正确的市场进入战略将会影响到跨国公司的表现以及其他的市场战略。
因此,企业将会一直选择正确的进入战略来帮助实现其目标。
Themodeofentryisafundamentaldecisionafirmmakeswhenitentersanewmarketbecausethechoiceofentryautomaticallyconstrainstheproductionandmarketingstrategyofthefirm.WiththeglobalizationofeconomiesmostoftheMNC’s(Multinationalcompanies)arefocusesonenteringintolargeemergingmarketslikeBrazil,ChinaandIndia.Themajorreasonforthisisemergingmarketshavethepotentialofgeneratehighprofitablebusinessesandinvestmentopportunities.Themajorattractionofemergingeconomiesistheirrapidlyincreasingdemandforconsumergoodsandthehigheconomicgrowth.AlsothesecountriesaremoreattractivetoFDI(Foreigndirectinvestments).SothatmostofMNC’sareintheworldattempttoaccessthedomesticmarketsandtotaketheadvantageofthelowlocalcostofproductionintheemergingmarkets.ThereforeMNC’salwaystrytodevelopdifferentstrategiesandnewbusinessmodelstofulfiltheirexpectations.
Emergingeconomiesarenormallyhighlyunstableduetotheregularchangesinindustrystructure,institutionsandmacro-economy.ThisinstabilityprovidesahugecompetitiveadvantagetotheMNC’swiththetacticalflexibilitytofacethechangesandgripnewbusinessopportunities(Meyer,KlausE.&Tran,YenThiThu2006).MakingthecorrectentrystrategywillimpacttheMNC’sperformanceandtheothermarketingstrategiesaswell.Thereforefirmswillalwaystrytochoosethecorrectentrystrategywhichhelpstoachievetheirobjectives.
Factorsaffectingthemodeofentry
Thereareseveralinternalandexternalfactorswillaffectwhenchoosinganentrymodetotheemergingmarkets.Thesefactorsareasfollows.
Marketsizeandgrowth
Riskofdoingbusiness
Governmentrulesandregulations
Competitivenessoftheenvironment
LocalInfrastructure
Internalcapabilitiesandresources
Marketsizeandgrowth
Marketsizeandgrowthisoneofthekeyidentifierofentrychoicedecisionsmakebythefirms.Largescalemarketsjustifymainresourcecommitmentsintheformoffullyownedsubsidiariesorjointventures.
Riskofdoingbusiness
Whenselectinganentrymoderiskisaveryimportantfactortobeconcerned.Mainlytheriskisrelatingtotheeconomicandpoliticalenvironmentoftheemergingmarketsthatmayimpactthefirm’sbusinessactivities.
Governmentrulesandregulations
GovernmentrulesandregulationswilldirectlyimpacttotheMNC’sentrychoicedecision.Differenttypeoftradebarrierswillrestrictthefirm’sentrychoicedecision.Hencebeforeenterintotheemergingmarkets;MNC’sshouldcarefullyanalyzethegovernment’srulesandregulations.
Competitivenessoftheenvironment
Thecompetitivenatureofthelocalmarketisanotherfactorwhichimpactsthefirm’sentrystrategytotheemergingmarkets.Theremightbesomelocalfirmsexistsinemergingmarketswithagoodcustomerbase.Thereforethisfirm’scompetitivenesswilldirectlyaffecttoMNC’soperationsinthatparticularcountry.
LocalInfrastructure
Thelocalinfrastructurereferstocountry’stransport,communicationanddistributionnetwork.IfthelocalinfrastructureisweekinthecountryMNC’shastobearadditionalcostswhenenterintothatmarket.
InternalCapabilitiesandrecourses
Internalcapabilitiesandresourceswillbeacriticalfactorwhenchoosinganentrystrategytoanemergingmarket.Ifthefirmsareequippedwithinternalcapabilitiesandresources,itwillbeveryeasierforthefirmstostartupoperationsintheemergingmarkets.
DifferenttypeofentrystrategiesusedbytheMNC’s
TherearedifferenttypesofentrystrategiesavailableforMNC’stoenterintoforeignmarket.MNC’scanchooseanyofbelowentrystrategiesorsomecombinationofthosestrategiestoenteremergingmarkets.Entrystrategiescanbebroadlyclassifiedintotwocategories.
Strategicalliances(Collaboration)
StandaloneEntries
Standaloneentriesaredonebythefirmswhichthinkthattheyhaveenoughcapacityintakingcapitalriskandwillingtogettheknowledgeassociatedwiththenewmarketsoverthetime.Themaindrawbackofthisstrategyisthatitwilltakelongtimeperiodtoestablishlocalmarketpositionandlackofmarketknowledgecanleadtosignificanterrorsinthebusinessoperations.Ontheotherhandthisstandalonestrategyhasadvantagessuchashighdegreeofcontroloverbusinessoperations,qualityandintellectualproperties(Accenture2011).
Mostofthetimenoneofanyfirmwouldliketosharebusinessorprofitthatexpectsfromanymarkets.Generallyfirmsareforcedtoformstrategicallianceswhenenteringintonewmarkets.Capacitytotakerisk,experienceaboutthemarketandtechnologywillaffectstrategicalliancedecisions.Thenatureofthestrategicalliancenormallydependsonwhatcomplimentaryresourcesthewesterncompanyislookingforinitslocalpartner(Prater,E2001).Thesestrategicalliancescanbedividedintofollowingtypes.
Exporting
InternationalLicensing
InternationalFranchising
ContractManufacturing(OutSourcing)
JointVentures
Exporting
ExportingisthestraightforwardandlessriskymethodforaMNCtobeginitsglobalexpansionofbusinesses.Thiscanbedonedirectly,whenthefirmdevelopsitsownrelationshipwiththecustomersintheemergingmarkets.Alsoitcanbeperformindirectlyviainternationalintermediaries.Directexportinginvolveshighriskandeffortwhencomparedtotheuseofintermediaries.Howeveritallowsfirmtolearnfastondoingbusinessabroadandhelpstocreategoodlongtermrelationshipswiththecustomers.Theuseofintermediariesariseswhenthefirmdoesn’thaveenoughexperienceoninternationalbusinessandfacedifficultiesinfindingpropermarketingchannels.Intermediarieswillprovidetheexpertiseknowledgeforthefirmstoconducttheirbusinessesinanefficientmanner.Theyalsoprovideassistanceinhandlingofficialdocumentationandlogisticservices(UNIDO2006).
Internationallicensing
Licensingisaneffectivewayforacompanytoexpanditsoperationstooverseas.Licensingsymbolizedeeperlevelofassurancetointernalizationandhighriskwhencomparetoexporting.UnderalicensingagreementthelicensororthecompanyallowsaforeignMNC,designatedaslicensee,touseitsintellectualpropertyassetssuchastrademarksandpatents,forthepurposeofmanufacturingandsaleofthefirm’sproducts.Licenseehastopayaroyaltyfortherightsgrantedbythelicensor.Thisroyaltyisnormallypaysasapercentageofthelicensedproducts.Withthelicensingmethod,itisnotnecessarytoforthefirmtoinvestintheforeigncountry.Thelicenseewilltakecareofallmarketingandadministrationactivitiesinthatparticularcountry.Howevertheremightbesomedisadvantagessuchasincomewilldependonthelicensee;licenseecanbeapotentialcompetitoretc.(UNIDO2006)
Internationalfranchising
Franchisinghasbeenknownasaneffectivewayforfirmstointernationalizeandbroadentheirbusinessactivitiesworldwide.Insomeinstancesfranchisingcanbetreatedasacertainformoflicensing.Howeverincontemporarycontext,licensingandfranchisingareconsiderablydifferentconcepts.Underthefranchising,franchisor(Ownerofthebusiness)allowsanothercompanyinaparticularcountryorfranchisee,toreplicatethebusinessaccordingtothesameconceptandqualitystandards.Thefranchisorwillprovideallproductspecifications,marketingplan,technicalknowledgeandstafftraining.Asamarketentrystrategyfranchisinghassomanyadvantages.MNC’scanexpandtheirbusinessoverseaswithaminimumamountofinvestment.Mostlyfranchisorcanusethefranchisee’sknowledgeofthelocalmarketplacebecausetheyhaveabetterunderstandingoflocalcustomsandlaws.Ontheotherhandthemajordrawbackofthefranchisingisthelackofcontroloverthefranchisee’soperationsinthatparticularcountry.Alsoifthefranchiseehaslessglobalreputation,itisverydifficulttofindafranchiseeorpartnerintheforeignmarkets.Insomeinstancesfranchisorshastointroduceproductswhichsuitstothecultureofthatparticularcountry.AsanexampleMcDonald’shasintroducedMaharajaBurgerinIndiaasmostofthepeoplearevegetarians.
ContractManufacturing(OutSourcing)
UnderthecontractmanufacturingtheMNCcometoanagreementwithlocalfirmtoproduceorassemblethepartsoftheproductsorsometimeseventheentireproduct.ThemarketingofthatproductisstilldoingbytheMNC.Lowcostistheprincipalmotivationfactorofthecontractmanufacturing.TheMNC’scanachievesignificantcostsavingsbysourcingtheproductsinalowwagecountry.Ingeneral,thecountriesofchoicearelocationsthathavecomparativelabourcostadvantage.Alsocostsavingscanbeachievedthroughlowenergyandmaterialcostsintheparticularcountry.Contractmanufacturingwillhelpthefirmtofocusontheircorecompetencessuchasproductdevelopmentanddesign.Themajorproblemwithcontractmanufacturingisthatit’sofferlessflexibilitytorespondtounexpectedmarketdemandchanges.
Jointventures
Nowadaysjointventureshaveproventhatitisthemostfeasiblewaytoenterforeignmarkets,especiallymerging
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