Global Business and Entrepreneurship Paper
Global Business and Entrepreneurship Paper
Module 5: Global Business and Entrepreneurship Paper
Entering the international market has many advantages for the company if it is done correctly. A company that develops carbonated fruit based drinks has established a significance presence in the home market and now with profits to work with is planning to expand globally.
Upon entering a foreign market, it is important to identify opportunities and strategies that will work; in this case, looking into which market is the best and which companies to compete against. After analyzing, it must attempt to ЃglocalizeЃh the company into the foreign market. This makes it easier to market in foreign markets because by working with the local firms you gain knowledge in what types of designs, tastes, and products the consumers are looking for. Also, working with foreign companies would give insight of the local economy and help with the decision of whether to continue investing or not depending on where the economy is headed in the future.
Considering these strategies, Japan would be a market this firm should enter first. From an economic standpoint, Japan has a very strong economy and especially a competitive market in the beverage industry. Although competitive, most of the competition occurs in beverages such as green tea and waters that include vitamin. At the moment, the trend in Japan is being healthy in any possible way and by bringing in a fruit-based (ЃghealthyЃh) carbonated drink; the younger consumers in Japan who may not enjoy the green tea would jump on this product. There are also great channels for distribution in convenience stores such as 7eleven and Family Mart. In Japan, when new beverages come into the market, they are first introduced in convenience stores even before supermarkets. The convenience store supplies everything you need in daily life and are located at every mile so once out in the market and put into the shelves the drink is going to have great exposure.
Upon deciding on entering the Japanese market,