An Overview of Foreign Market Entry Strategies and the Role of Foreign Branches on Research and Development
Abstract
Companies and even governments, in their pursuit of entering specific countries, possess distinct plans, strategies, objectives, and functions that cannot be denied. However, generally, entry methods and approaches have been identified based on studies by experts in this field, which companies and organizations intending to enter a community’s or country’s market should fully observe in order to effectively benefit from and utilize organizational advantages. Each of the entry methods has its own separate duties and functions that hold a special role and importance for the central organization. This paper focuses on research and development and sheds light on the role of local and collaborative organizations, where central organizations are responsible for its guidance and leadership.
In the realm of both domestic and international marketing, the significance of research, the process of activities, supply and service offerings in development cannot be overlooked, and they cannot be undermined in advancing business and economic activities, especially in the context of exports. For entering global and international markets, and to have a firm grasp on international marketing and to perform exports and selling products and providing services to foreign markets in the most appropriate and even optimal manner, the selection and establishment of foreign branches should also not be overlooked. We should take full advantage of these branches in terms of marketing activities.
Keywords: Entry Strategies into Foreign Markets, Research and Development, International Marketing