Market Entry Strategies and Their Effectiveness in Global Markets

This report discusses the market entry strategies and their effectiveness in maintaining and sustaining competitive advantages in global markets. It focuses on a case study of Rowlinson Knitwear and explores the challenges faced during new market entry and strategies to minimize them. The research methodology includes qualitative data collection through questionnaires. The findings highlight the importance of market research, adapting to cultural differences, and complying with laws and regulations for successful market entry.

Global Economies and
International Markets

Contents
INTRODUCTION...........................................................................................................................1
Rationale of the research.............................................................................................................2
LITERATURE REVIEW................................................................................................................2
To understand the effectiveness of market entry strategies while entering in new market.........2
To determined the various challenges which is face by entity during new market entry............2
To evaluate the strategies that can be adapted by entity for minimising the challenges related
at global market...........................................................................................................................3
RESEARCH METHODOLOGY....................................................................................................4
Budget:.........................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Market entry strategies are considered as effective tactics which are fundamentally
developed for distribution as well as selling offerings to new targeted marketplace. Moreover,
this associates to development, and maintenance of contractual agreements with countries. In
addition to this, there are various market penetration tactics like collaborations, merger &
acquisition and others. Whole these approaches provide an essential role as well as have
influences upon whole productivity of firm. For this report, the undertaken company is
Rowlinson Knitwear, which is a certified B corp & staff which is owned the business and
provides effective quality as well as durable school and corporate wear. Respective firm higher
authority decided to explore their business practices into Germany so for instance, research is
performed for understanding which market entry strategies is appropriate. The topic which are
going to be covered in this report are market entry strategy with their effectiveness to maintain &
sustain competitive edge at global market. Apart from this, several research methods, Gantt chart
and budget are also discussed in this report.
Research aim:
“To evaluate the market entry strategies and their effectiveness in maintaining and
sustaining their competitive advantages at global market”. A case study on Rowlinson Knitwear.
Research objectives:
 To understand the effectiveness of market entry strategies while entering in new market.
 To determined the various challenges which is face by entity during new market entry.
 To evaluate the strategies that can be adapted by entity for minimising the challenges
related at global market.
Research Question:
 What is the effectiveness of market entry strategies while entering in new market?
 What are the various challenges which is face by entity during new market entry?
 What are the strategies that can be adapted by entity for minimising the challenges related
at global market?
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Rationale of the research
One of the key reason for opting respective topic is to assists researcher for gaining
understanding regarding the entry strategies as well as its effectiveness to maintain as well as
sustain their competitive edge at global market are. Moreover, through performing this
investigation, researcher becomes competent to know about the research skills, communication
skills, time management and many others. In addition to this, it would aid them to obtain both
personal as well as professional growth that in turn drives towards accomplishment of best
opportunities in upcoming time durations.
LITERATURE REVIEW
To understand the effectiveness of market entry strategies while entering in new market.
As per the view point of Shardina (2020), There are many strategies for entering into
global marketplace like merger & acquisition, franchising, joint venture and many others.
Moreover, All these are actually essential as well as assist in expanding the business at boarder
level. Based upon the present market situations, there are high competitions that are prevailing
into market area so, this is vital to explore the business at worldwide level. In respect of
Rowlinson Knitwear that is presently performing into United Kingdom so this is become crucial
for them to expand their business operations in all over the world. In addition to this, for
expanding as well as exploring the business at global scale their manager should have clear
vision regarding future methods as well as resources which would be needed into expansion. At
current times, for sustaining at market area for long duration, this is vital to adapt new as well as
advanced strategies of expansion. Along with this, essential market research is also needed for
undertaking effective information related to global market area. Though, by entering in new
marketplace, entity mau target international audiences which would enhance their brand
reputation as well as formed it for gaining substantial profitability margins. Within it, firm would
become competent to maximise their presence into internal market area that would further drives
towards high development as well as success.
To determined the various challenges which is face by entity during new market entry.
As per the view point of Park (2020), there are several challenges as well as barriers which
are faced through entity during business expansion. In this, firm plan to expand their business
operations at global scale where they would face many constraints associated to culture, values,
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networks and many others. Additionally, this has been determined that for expansion, firm have
to invest high amount that would minimise the whole profitability margins as well as revenue. In
respect of Rowlinson Knitwear, they are operation into school wears and formal wears as well as
have to tackle various issues while expanding their business at worldwide level. Those are
basically associated with cost, legislation, culture and many more. along with this, there are
several risk that are also related with it as this may possible that global audiences would not like
the offerings as well as services. Additionally, the value as well as culture also develops issues
while expanding the business as there are various cultures which are present within various
countries which impact purchasing behaviour of persons. Small entity as well as start ups does
not have larger funds for investing into expansion which might develop large constraints into its
development as well as growth. So, their managers have to determined the present policies ,
trends which are presently occurring into global market areas within various countries for
formulating strategies consequently that would needs larger times. Beside this, business
operations, regulations of other countries are also different so firm’s manager have to change its
current tactics as well as norms. Thus, there are various challenges that should be highlighted
through firm while expanding their practices at global level.
To evaluate the strategies that can be adapted by entity for minimising the challenges related at
global market.
As per the view point of Massot (2020), Entity have to face various barriers during period of
expansion. Moreover, there are also many ways for overcoming from those barriers like hiring
native staff, developing effectual tactics, determining marketing trends and many others. In
addition to this, it has been observed that the managers have to face various difficulties of cost
while expanding the business. For instance, they required to develop effective budget that
incorporates sources of funds, their allocation and so on. Along with this, it would assists to
expand business into pre-specified cost. Within this, the managers of respective entity have to
formulate strategies for overcoming from various difficulties related to business expansion.
Furthermore, for meeting with legal problems, firm may perform some modification into its
existent norms based upon prevailing regulations. For it, their managers should take assistances
from their competent consultant for facilitating essential aids. Few changes required to be
performed into existent taxes as well as traffic policies for easing out international transaction.
Also, this would facilitates them an ease for rendering the desires as well as needs of global
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customers in well defined way. Thus, this is not simple to enter into new marketplace mainly at
worldwide level but there are specific tactics that may be utilised for overcoming form that
challenges as well as maintaining the effective sales and profitability margin.
RESEARCH METHODOLOGY
Research methodology is regarded as the effectual method which is applied through
researcher for gathering proper information related to respective subject matter. Along with this,
this is one of the essential parts which clarify the method that are going to be used within
research. Also, the researcher describes how essential the data address the develop investigation
aims and objectives. Along with this, the key reasons as well as justifications for research design,
sources of data, data collection, research strategy, research instruments and others. All these are
discussed below in respective of particular research:
Research philosophy: There are basically two kinds of research philosophies like
positivism as well as interpretivism. For the present research, interpretivism philosophies have
been used to analyse the information in effective way. In addition to this, this would assist them
for illustrate valuable implication as well as reaching at effective conclusion by investigation.
While of other hand positivism philosophy is not efficacious for recent research as this would
aids for drawing essential conclusion.
Research design: This has been determined that there are basically two approaches such
as deductive as well as inductive. Both are utilised through researcher for accumulating effective
as well as efficient information regarding investigation. In this, inductive research intent for
developing a new approach where as deductive investigation performs with existent theory.
Within inductive research, appropriate conclusion may be drawn based upon the available
information as well as observations. Therefore, fin respect of present research, inductive research
is much appropriate as this would assists them to obtain effective results as well as accumulate
gainful data. Additionally, it would also assist researcher in their upcoming investigation.
Research choice: Qualitative as well as quantitative are undertaken as the tow essential
kinds of research. Within qualitative research, there are various methods like interview, group
discussion and many others for obtaining detailed information related to respondents. Within
this, deep as well as explained data may be accumulated through researcher that would further
aids to make decisions. While of other hand, in respect of quantitative research, information is
collected in kinds of figures, facts and many more. Furthermore, this is undertaken as much
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relevant and reliable as this depends upon facts. In addition to this, both forms of investigation
has their own effectiveness as well as adapt according to needs. For respective research,
qualitative research is much effective as this would helps investigators for considering
appropriate conclusions through accumulating appropriate response from respondents.
Data sources: There are basically two kinds for accumulating information which is
secondary as well as primary. Along with this, both these methods are essential for performing
the current research which aids researcher for providing authenticate as well as relevant
information. For gathering the primary data, questionnaire is formulated as this aids them to gain
quantitative data which is simple evaluated and aids to gain effective understandings regarding
conceptions of others individuals upon specific topic. In context to secondary method, various
sources are available for investigators which are journals, articles and many others. Thus, both
secondary as well as primary methods are utilised in order to perform current research as well as
accomplish this on specified time durations.
Data collection tools: there are several kinds of data collection techniques which is
questionnaires, observation, focus group and many others. These are essential data collection
methods for accumulating data regarding strategies of market entry. Within recent research,
questionnaire is utilised for accumulating data. They key reason to choose respective tool is this
aids researcher for collecting relevant and accurate data as well as also this undertakes less time
period of researcher in comparison to another methods.
Q1) Are you aware about the various marketing entry strategies for
entering into global marketplace?
Frequency
a) Yes 25
b) No 15
Q2) What are the effective market strategy for Rowlinson Knitwear to
enter into global market place?
Frequency
a) Joint Venture 13
b) Merger & Acquisition 17
c) Franchise 10
Q3) What are the various challenges which is face by entity during new Frequency
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market entry?
a) Different culture and values 18
b) laws and legislations 12
c) No knowledge of market 10
Q4) What are the strategies that can be adapted by entity for minimising
the challenges related at global market?
Frequency
a) Analysing market trends 15
b) Hiring native employees 10
C) Follow all the laws and policies 15
Q5) As per you view point, the execution of market entry strategies have
affects upon profitability as well as productivity of organisation?
Frequency
a) Yes 22
c) No 18
Sampling: This is regarded as the number of population which is undertaken for
accumulating information. Moreover, there are basically, two kinds of sampling methods which
is probability as well as non probability sampling method. In addition to this, it is considered as
teh procedures of sampling incorporates systematic, stratified and many others, within current
research, random sampling method is undertaken that is a kind of probability sampling. They key
reasons behind opting respective sampling method is to provide an equal chances for whole
respondents. Along with this, it assists them to develop relevant as well as accurate information
in appropriate way which drives towards enhancement of favourable conclusions. Additionally,
the sample size is 30 participants are selected for recent research that is the staff of Rowlinson
Knitwear.
Ethics: These are basically undertaken as the moral principles that investigators is
utilised irrespective of areas as well as time also. Along with this, there are several principles of
ethics that should be concentrated through researcher for minimising the risk level, obviating
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deceptive activities, facilitating rights for withdrawing and many others. Whole this would aids
researcher in accomplishment of research ethically and systematically.
Reliability and validity: This is undertaken as the other method which basically based
upon the questionnaires. Along with this, It is helpful method of data collection that assists in
testing reliability as well as validity of practices and investigation outcomes as well.
Cost, access & ethical issues: For performing the research, researcher needs to focus
upon several aspects for accomplishing results of investigations. Along with this, for conducting
such prospects systematically, research needs efficient amount of revenue. To perform
investigators to perform both primary and secondary research appropriately. Additionally, access
related to few sources is considers through investigators in advance. In addition to this, it would
aids investigators in accomplishment of investigation without any ethical problems. Beside this,
various ethical activities is also comply through researcher for accomplishing research through
undertaking factors which is authentic, confidential and many more.
Gantt Chart: It is considered as the visual method which supports as well as aids
researcher into recognition of initial time period as well as targeted period for particular activities
which is related to investigation. Also, it further contributes towards project success over phases.
The primary ideas of Gantt chart is planned that functioning could be accomplished in
conjunction as well as that has to be performed accordingly. In case, one pair it with operative
resources, they would describe trade off among reach that are performing somewhat activities,
expenditures (using finance) and particular level of projects. Along with this through facilitating
new funds or minimising scale, the project manager might become competent to observe the
affect upon end date. Additionally, this aids to arrange activities along with time which facilitates
an effective long time to attain the investigation. Also, the Gantt chart is based upon the present
research that is represented below:
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Budget:
This is undertaken to be the most essential aspects for researcher as this is important for
them to formulate budget through undertaking whole practices of investigation in effective and
efficient way. Moreover, this has been determined that formation of appropriate budget would
assist in effectual implementation of practices which drives towards attainment of favourable
outcomes. In addition to this, the whole budget needs for current research is $ 1000 which
incorporates evaluation of several papers for data accumulations, internet and others.
CONCLUSION
As per the above report, this has been concluded that there are various strategies of market
entry which has to be adapted through entity for expanding their business practices at
international level. Moreover, this is also vital to opt effective entry strategies so that expansion
of market would be advantageous as well as gainful for business. Along with this, there are
several challenges which the firm has to be faced while entering into global market like political
problems, legal issues and many others. Apart from this, it is vital for investigator to adopt
appropriate method for collecting data as this directly have affects into information validity as
well as reliability additionally with investigation results.
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REFERENCES
Books and Journal
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how do small and medium-sized enterprises make decisions?. Journal of International
Marketing, 25(1), pp.1-21.
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internationalization: New Zealand SMEs use of the Alibaba platform for Chinese market
entry. Journal of Asia-Pacific Business, 19(2), pp.72-95.
Luoma, J., and et. al., 2018. Big splash, no waves? C ognitive mechanisms driving incumbent
firms’ responses to low‐price market entry strategies. Strategic Management
Journal, 39(5), pp.1388-1410.
Massot, P., 2020. The state of the study of the market in political economy: China’s rise shines
light on conceptual shortcomings. Competition & Change, p.1024529420965523.
Mersland, R., Nyarko, S.A. and Sirisena, A.B., 2020. A hybrid approach to international market
selection: The case of impact investing organizations. International Business
Review, 29(1), p.101624.
Nee, M., 2019. Suture-Type Fiducial Marker Oncology Market Entry Strategy (Doctoral
dissertation, Case Western Reserve University).
Park, C., 2020. Market entry strategies in a high-tech successive generations market: a case study
of three semiconductor firms with different entry modes. Journal of Business &
Industrial Marketing.
Pūcīte, K., 2020. Market entry strategy for road design company in Scandinavian market.
Shardina, M. and Galkina, Y., 2019. Franchising as a Foreign Market Entry Strategy.
In Менеджмент и маркетинг: вызовы XXI века (pp. 244-247).
Shardina, M. and Galkina, Y., 2019. Franchising as a Foreign Market Entry Strategy.
In Менеджмент и маркетинг: вызовы XXI века (pp. 244-247).
Terblanche, G., 2018. An analysis of foreign market entry strategy for Discovery Limited.
Zou, L. and Yu, C., 2020. The evolving market entry strategy: A comparative study of Southwest
and JetBlue. Transportation Research Part A: Policy and Practice, 132, pp.682-695.
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