Definition of Market Entry Strategies:

• Companies use These approaches to establish their presence in a foreign market.
• Include methods such as exporting, partnerships, franchising, joint ventures, and wholly owned subsidiaries.

Key Factors to Consider:

• Market Research:
  • Understand target customer needs, preferences, and purchasing behaviours.
• Regulatory Environment:
  • Comply with local laws, trade regulations, and certifications.
• Competitive Analysis:
  • Identify competitors and assess market saturation.
• Cultural Adaptation:
  • Adjust products, branding, and marketing to align with local preferences.
• Economic and Political Climate:
  • Assess the stability and growth potential of the target market.

Relevance to GD and ZJ:

• As manufacturers expand to the UK and US, strategic market entry is essential to gaining a foothold and maximizing success.