|University||Curtin University (CU)|
1. Evaluate the interviews in a table
2. identify the problems for the market exit in Romania
3. procedure for market entry
4. comparing the results of the interviews with the theory
Explanation to 1.
there is a lot of important information in the 3 interviews, but not all of it is needed. The relevant information is the mentioned problems/reasons for the market exit in Romania and the strategy how to re-enter the market
The required statements should be analyzed/coded. The table should consist of 3 columns. An example would be Category Code Explanation
This should fit with all problems and also with the market entry strategies. So you have some categories with several codes each
All problems/reasons for the exit in Romania should be presented in a text.
The text should be written in such a way that the category is mentioned in each case and the entire associated codes are given as reasons. I think there are 3-5 categories in total for the problems in Romania It should look something like this. The evaluation of the expert interviews showed that there were some problems during the time in Romania, which is why the decision was made to leave the market.
Explanation to 3.
Procedure for market entry
The information given regarding market entry should be described here.
Market analysis is partly already mentioned in a previous chapter of the bachelor thesis.
In addition, the competitors and their offers and games must be analyzed in more detail.
What general conditions does the management have
Then the on-site analysis in which the locations of the competitors are analyzed on-site.
Position of the locations Experts names 3 possible strategies to re-enter the market.
All relevant information can be found in the interviews (the first two key points are not found in the interview and can simply be mentioned) In between, other countries are mentioned. These do not have to be included. Only all the information for Romania is important.
Explanation to 4.
Comparing the procedure from the expert interviews on re-entering the Romanian market with the theory from the PDF Market Entry Strategies
Market Entry Strategies
By developing an organization in other areas, one may potentially achieve a surge of new consumers and dramatically increase their earnings.b Nonetheless, the methodology might be laborious and complicated. A market entrance strategy is the method of increasing business likelihood of profitability while entering a foreign market.
Reason for a New Market Entry
Market entrance tactics are significant since distributing a commodity through an overseas market necessitates meticulous preparation and upkeep. Corporations may use such tactics to organize things beforehand, throughout, and then after expanding into new markets. Because each corporation has its unique aims regarding accessing the global industry, possessing the ability to pick from several sorts of techniques might allow a firm to discover one which meets its requirements.
Organizations typically go worldwide to develop or extend their business (Dinu, A.M., 2018). The advantages of accessing the global market comprise increased income, competition over sales leads, financing possibilities, diversification, and cost reduction, recruitment of fresh skilled individuals, increased brand recognition, and efficiency improvements.
Going global would be an approach that is impacted by a collection of elements and therefore is normally done progressively. To grow respective enterprises, governments sometimes would entice corporations to access their nation’s economy.
The most prevalent motive for accessing the global market has always been to increase profitability. Once national growth initiatives are depleted, the very next step is generally to pursue global expansion. Expanding business’s consumer base by spreading their merchandise to other nations. Revenue grows as well as expands when businesses provide attractive offerings and establish devotion throughout worldwide markets.
Going overseas could also lead to considerable price reductions. A corporation can wish to save money by shifting adjacent to a vendor, or they could seek to profit off cheaper manufacturing costs through extending activities to some other nation. Performing business across borders may provide venture capital prospects. A cheaper price of client acquisition may also be a convincing argument to grow globally.
Competition over New Customers
The drive that encourages sales has been intimately associated with the ambition of higher profitability ratios. However, if organization executives are typically pleased about the levels of sales, foreign growth can boost gross profits. The scramble to overseas operations is frequently about establishing a foothold in global markets. The first to expand into new markets can give numerous beneﬁts.
Competitors will join a mature marketplace with similar offerings when businesses do not. They not only forfeit the money stream, but they also forfeit additional strategic assets which can be used to commercialize the firm, including both domestically and overseas (Bamberger, K.A. and Lobel, O., 2017). In certain circumstances, a huge domestic organization is overtaken by a minor player who thrives worldwide and expands rapidly due to worldwide coordination.
Take into account that, owing to technological advancements, numerous enterprises throughout the new economy have become worldwide. So seeking a competitive edge inside the contemporary business world, organizations need particular international approaches.
Global growth helps a corporation to broaden its operations in several aspects. To begin, they diversify the possibility of decreased consumption over many nations. If such a marketplace neither grows nor would get tired of its goods, it may cover the difference in all other nations with effectiveness. Furthermore, businesses may communicate with vendors in overseas marketplaces and get resources that are not obtainable in home markets.
When an organization operates in different countries, creativity and variety in products might help it in gaining a market base in that country. Product variety protects businesses against the hazards of waning enthusiasm over a certain commodity.
Expanding a company’s offers and consumer market remain 2 common causes for worldwide growing business (Usenya, 2019). Often a commodity isn’t a horrible item but rather a poor match for the marketplace in which it has been first introduced. Introducing that offering in a particular marketplace to individuals with cultural differences as well as a separate economy can result in a completely distinct, far more favorable reaction.
Global markets can provide companies with accessibility to a wider as well as highly comprehensive skilled workforce. Personnel who can communicate in various languages as well as understand various cultures enhances the relationship with larger clients and partners. Establishing a well-known international presence will attract outstanding talents to the organization. Organizations could also arrange
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