About This Chapter
International Market Entry Strategies - Chapter Summary
This chapter outlines business strategies for entering international markets. Using an engaging and straightforward teaching approach, our instructors will walk you through several topics related to entry into international markets, including international business expansion, foreign licensing, joint ventures and offshoring. Self-assessment quizzes and lesson transcripts are available to supplement your studying experience, and you can access the chapter materials at any time that fits your schedule. Upon completion of this chapter, you'll be able to:
- Understand international marketing strategies that help organizations break into foreign markets
- Compare the advantages and disadvantages of foreign licensing, foreign direct investment and offshoring
- Define contract manufacturing, outsourcing and joint ventures
- Assess the opportunities and challenges of franchises
- Explain what exporting is and provide and example
1. Breaking Into Foreign Markets: International Marketing Strategies
Companies look to international markets to increase their sales and profits. Market managers must decide on the mode of entry into a foreign market. The options, ranging from least to most risky, are exporting, licensing, franchising, contract manufacturing, joint ventures and direct investments.
2. What is an Export? - Definition & Example
Learn about exports and discover what some of the most common exports in the United States are today. Find out how things such as balance of trade, customs, and imports relate to the exporting business.
3. Foreign Licensing: Benefits & Drawbacks
Sometimes companies want to expand beyond the borders of their home country. When this happens it's important to do your research so that you are successful. In this lesson, we will learn about an agreement that can help companies in this situation.
4. Franchises: Opportunities and Challenges
Franchises offer a way for a person to start a proven business. In this lesson, you'll learn about franchises, including their advantages and disadvantages. You'll also learn about diversity and global challenges in franchising.
5. What Is Contract Manufacturing? - Definition & Explanation
Contract manufacturing is a popular type of outsourcing used by many U.S. companies. In this lesson, you'll learn what contract manufacturing is and some of its key concepts.
6. What Is a Joint Venture? - Definition & Examples
Joint ventures are common business agreements that individuals and corporations engage in every day. In this lesson, you'll learn about joint ventures and see some examples of how they work. Then you can test your understanding with a short quiz.
7. What Is Foreign Direct Investment? - Definition, Advantages & Disadvantages
Foreign direct investment has been a controversial issue in international economics. In this lesson, you'll learn about it, including some of its advantages and disadvantages. A short quiz follows the lesson.
8. What is Outsourcing? - Definition & Benefits
Outsourcing is a strategy that can benefit a company's bottom line. In this lesson, you'll learn what outsourcing is and some of its benefits as well as look at an example.
9. What Is Offshoring? - Definition, Advantages & Disadvantages
Companies move part or all of their production to other countries for a number of reasons. In this lesson, you will learn more about offshoring and its advantages and disadvantages.
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Other chapters within the Business 120: International Business course
- Introduction to International Business
- How Culture Affects International Business
- Global Economic Development
- Key Factors in International Trade
- International Trade Management & Regulation
- Exchange Rates & Currency Changes
- Management & Human Resources in International Business
- International Operations Management
- Global Marketing and R&D Strategies
- Communication & Decision-Making in Global Business
- Impact of Globalization on Organizations
- Impact of Globalization on Countries
- Global Business Ethics
- Future of Globalization
- Studying for Business 120