ETEEAP

CLUSTER 6

New Market Development

Guide for answering: You may research in google for questions 1-6 and provide references/sources (as many as you can will do).

The longer answer the better.

1.What is Market Development?

2.Discuss the following steps in Market Development process:

a.Define your New Target Market(s)

b.Market Research

c.Decision to Enter the Market or Look for Another

d.Enter the Target Market

3.Discuss the following categories of expansion efforts:

a.Same Target Group, New Geographic Area

b.New Target Group, Same Geographic Area

c.New Target Group, New Geographic Area

4.Discuss the following entry-mode strategies

Entry-mode strategies Greenfield High Acquisition Wholly Owned Subsidiary Foreign Direct Investments (FDI) - Equity-based Joint Venture Strategic Alliance Non-equity or equity-based: Extent of Investment and Risk - Contractual agreements Franchising - Cross-shareholdings Licensing Contractual > Non-equity-based Exporting Low LOW High Degree of Ownership and Control Source: Root (1994) Entry strategies for international markets