There are four primary approaches to market entry

Explanation:

Direct exporting: This occurs when a business offers its goods or services to clients in another nation without establishing a physical presence there. Here are some instances of direct exporting:

A US$-$based company selling its products to customers in Europe through its website.

A Chinese company selling its products to customers in Africa through online marketplaces.

An Indian company selling its services to customers in the Middle East through video conferencing.

Indirect exporting: This occurs when a business uses a middleman or distributor to offer its goods or services to clients in another nation. Indirect exporting examples include:

A US$-$based company selling its products to customers in Japan through a Japanese distributor.

A European company selling its services to customers in South America through a local consulting firm.

An Australian company selling its products to customers in China through a Chinese e$-$commerce platform.

Licensing: In exchange for a royalty payment, a business will allow another business to use its intellectual property, such as patents, trademarks, or copyrights. Licencing examples include:

A US$-$based software company licensing its software to a company in India.

A French fashion company licensing its brand to a company in China.

A Japanese cartoon company licensing its characters to a company in the United States.

Franchising: This is a unique kind of licencing where a business $($the franchisor$)$ gives another business $($the franchisee$)$ permission to utilise its brand and business model in exchange for an upfront fee and a royalty payment. Here are some instances of franchising:

McDonald's franchises its restaurants to individuals and businesses all over the world.

Subway franchises its sandwich shops to individuals and businesses all over the world.

Marriott International franchises its hotels to individuals and businesses all over the world.