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Market entry strategy is a planned distribution and delivery method of goods or services to a new target market. In the import and export of services, it refers to the creation, establishment, and management of contracts in a foreign country.
On the other hand, international licensing is a foreign market entry mode that presents some disadvantages and reasons why companies should not use it as: Lower income than in other entry modes; Loss of control of the licensee manufacture and marketing operations and practices leading to loss of quality
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Processes of a go-to-market strategy. In the earliest stages of developing a go-to-market strategy for a new product or service, the company has to initially define the target market. The company then must determine whether they already have prospective customers within their customer base but who are using different services. [1]
Effective international business strategies require astute market analysis, risk assessment, and adaptation to local customs and preferences. The role of technology cannot be overstated, as advancements in communication and transportation have drastically reduced barriers to entry and expanded market reach.
Consulting an organization about suitability / demand of their products or services in the new market / geography of interest. Market potential, growth, competition, market-share analysis and other market research activities. Preparation of business strategy, business plan; carrying out cost–benefit and risk analysis for the organization etc.
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