Potential Barriers in a Foreign Market Entry Can Be Overcome with the Right Market Entry Strategies | Infiniti Research Reveals Some Key Foreign Market Entry Strategies
LONDON--(BUSINESS WIRE)--Feb 19, 2019--A well-known market intelligence company, Infiniti Research, has announced the completion of their latest downloadable resource on potential barriers to a foreign market entry and strategies to overcome them. Market entry into international markets could be a highly challenging task and unless the right strategies are formulated to overcome these challenges, chances are they would fail.
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Foreign market entry challenges (Graphic: Business Wire)
Globalization has opened way for several organizations around the world to explore their prospects overseas. While some may succeed in establishing themselves in international markets, some may not. There are several factors that need to be examined by companies before formulating their foreign market entry strategies. Every international market is different from the other in terms of customer needs, product preferences, and regulations, which companies need to correctly identify in order to succeed in developing a powerful market entry strategy.
Foreign market entry challenges
Monopolies in the market
Monopoly occurs when one company rules over an entire market and is the key provider of products and services in that market. These companies often use tactics in form of patents and licenses to control distribution routes, resources or suppliers, and thereby block entry to competitors and block the development of possible substitutes.
Poor legal protection
Foreign companies getting poor legal protection from a local government could also act as a barrier. Companies that cannot assume protection of its intellectual property (copyrights, patents, trademarks) and fair and effective dispute settlement mechanisms, it is likely to suffer losses in the market.
Corruption and bribery
Bribes and corruption are common in several foreign markets. Although public opinion in the target country may be against such practices, they remain a reality. Local companies in such countries treat bribes as an everyday business occurrence. However, when it comes to foreign companies, they can face severe civil and criminal penalties for paying bribes.
About Infiniti Research
Established in 2003, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:
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CONTACT: Infiniti Research
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INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSULTING FINANCE
SOURCE: Infiniti Research
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PUB: 02/19/2019 02:30 PM/DISC: 02/19/2019 02:30 PM