“One of the critical decisions in international marketing is the mode of entering the foreign market”. Discuss

The internationalisation of business is a widely observed phenomenon today. More and more companies are seeking business outside their national boundaries.

In its effort to go international, it has to decide the type of presence it desires to maintain in every market, where they would like to operate.

Following are the various modes of entry to foreign markets:

(i) Exporting

(ii) Licensing

(iii) Franchising

(iv) Contrast Manufacturing

(v) Assembly

(vi) Joint Ventures

(vii) Strategic Alliance

(viii) Merger and Acquisitions.

(1) Exporting: Exporting is the simplest way to get involved in a foreign market. Occasional exporting is a passive level of involvement where the company exports surpluses from time to time and sells goods to resident buyers representing foreign companies.

Active exporting takes place when the company makes a commitment to expand exports to a particular market. Exporting may be of two types:

(a) Indirect Exporting: A company can hire independent international marketing middlemen. It is more common in companies just beginning their exporting because it involves less risk and less investment.

(b) Direct Exporting: Direct exporting means that a company can handle its own exporting. In case of direct exporting, investment and risk are somewhat greater but so is the potential return.

(ii) Licensing: When a Company is unwilling to take any risk for the sake of international business, it sometimes opts for licensing as the mode of entry.

Licensing is, simply put, nothing but entering into a contract to allow another firm to u an intellectual property, such as, patent or a trade mark.

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