#31: Herbalist Jamaican Teas Ltd. is planning on expanding its lines of noni, cerasse and soursop leaf teas due to recent developments. Identify and explain the factors that influence Herbalist Jamaican Teas Ltd’s decision to enter overseas markets and critically assess three (3) methods of entry into foreign markets.
Define Global Marketing
Factor Influencing entry in the overseas market
Method to entry in the Global Market
Global Marketing is
A Global Firm
A global firm is one that operates in more than one country and captures R&D, production, logistical, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors.
Factors Influencing Entry to Overseas
Most of the large, established markets, such as the US, Europe, and Japan, has more or less reached a point of saturation for consumer goods such as automobiles, consumer electronics. Therefore, the growth of markets in these countries is showing a declining trend. Therefore, from the perspective of long-term growth, firms invest more resources in markets with high growth potential.
Image Support Requirements:
In some industries, companies that want to build and sustain the image of a leading global supplier have got to be present in leading markets
Methods of Entry in Foreign Market
Indirect and Direct
Export working through independent home-based international marketing intermediaries. Direct
Exporting through the company’s own branch, department, or safe representatives or agents
Joint ventures is entering foreign markets by joining with foreign companies to produce or market a product or