Portfolio Part 1 assessment: Market Entry Methods
Due on 1 February @11 pm into the assignment box in the Assessment folder Marks 15%.
My name: SID:
Campus and class day:
My company is: Zhik (waterproof sports clothing)
My product is: sportswear
My country is: England
Note: This is a short assignment with a word limit 500 max. (Appendices & References are extra). Write clear sentences giving specific details. Shorten and delete anything that does not add any value to the company description.
Question 1: Explain why you consider your firm chooses the market entry method(s) it does (or why it would choose the methods used by other companies in the same industry). Give several reasons based on the nature of your product, the industry it is part of, the resources of your company and the countries it sells to.
The company Zhik is one of the world’s leading sportswear manufacturer and seller due to which it is considered as one of the most popular among the entire world (Tan and Sousa, 2015). The company is England based and the people who prefer to be her clients are the sportsmen and the marine duty officials because its innovative fabric is uniquely water proof with the addition of the comfort to the human body. The company is already popular and have aims to enter to the new markets of the world including the Latin regions, south Asian countries, and the Arab shore based countries (Johanson and Mattsson, 2015). The market entry method that would be preferred would be the direct exporting to the markets where the connections are already built and the management is cheaper while joint venture would be a better one in the Latin continent because of the expensive management of the marketing, retailing, and logistics (Troynikov, Nawaz and Watson, 2018).
The nature of the product is purely based of the deep water sports dresses in which every kind of product could be supplied and provided. In the countries of Arabic region, southern Europe, and south Asian region, the demand could be massively high due to which the company would have to enhance the manufacturing as well as shipment on the entrance of the market (Zykova, 2016). In a more refined perspective, for the catering of the demand, the direct export would be necessary.
Zhik is a sports clothing company and is performing as a major competitor among the water sports industry. The company on one side is choosing the methods used by the other companies in the business which is the joint venture (Pezzulo, 2016). In contrast to that an additional way of managing the entrance in the market is the direct exporting as it is expensive but with the relative connectivity, the profits could be multiplied and the new clients could be secured.
In the past few years the manufacturing and retailing industry have been dramatically changed and due to these reasons almost every second retail chain or clothing store is using the direct export as well as joint venture for the maintaining of the smooth entrance at an international industry (Johanson and Mattsson, 2015). The technology is constantly changing that’s why the industry should also focus on the e-marketing for attracting more sports clubs around the globe.
The resources of the company are its manufacturers, geographically distinguished clients, and the regional strength (Troynikov, Nawaz and Watson, 2018). The company already supplied its products to the entire United Kingdom, major sports clubs of the Australia, and many parts of Canada and United States but for achieving the new markets it is also important to gain as well as maintain the trust and satisfaction of the previous clients. Due to all of these factors, the overall entrance to the new market process is relatively slowed down but the back-end processes are required to be performed at the super speeds.
Johanson, J. and Mattsson, L.G., 2015. Internationalisation in industrial systems—a network approach. In Knowledge, networks and power (pp. 111-132). Palgrave Macmillan, London.
Tan, Q. and Sousa, C.M., 2015. Leveraging marketing capabilities into competitive advantage and export performance. International Marketing Review, 32(1), pp.78-102.
Vellas, F., 2016. The international marketing of travel and tourism: A strategic approach. Macmillan International Higher Education.
Zykova, A., 2016. The study of suport marketing campaigns in sailing with elaboration of a sponsorship decision model(Doctoral dissertation).
Troynikov, O., Nawaz, N. and Watson, C., 2018. Durability of vapor-permeable waterproof textile materials used in sailing protective apparel. Textile Research Journal, 88(24), pp.2825-2840.
Pezzulo, I., 2016. Song of the Dzopa: A Case Study of Traditional Farming, Food.
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