International Entrepreneurship: Market Entry Strategy and Target Markets

This presentation explores the concept of international entrepreneurship and its reliance on the internationalization of business organizations. It discusses the benefits of entering foreign markets, selecting and applying models and frameworks for market entry strategy, and the case study of Wenzel's market entry strategy and target markets. The presentation also covers the marketing mix, product/service changes, and reasoning behind the decisions made. References are provided for further reading.

International
Entrepreneurship

Table of content
 Introduction
 Selecting and applying variety of models, frameworks and theories
 International market entry strategy for Wenzel’s
 Two different target markets
 Research products and services
 Competitors of Wenzel’s :

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 Appropriate markets
 Critical analysis and evaluation of the data
 Two target markets
 Market entry strategy which was used and applied by business
organisation
 Marketing mix and implementation and product/service changes
 Reasoning & justify all decisions

Introduction
International Entrepreneurship can
be defined as an approach which
basically relies upon
internationalisation of business
organisations which influences
both entrepreneur along with the
networks which has been
developed by the entrepreneur
regarding international market.

Five Benefits of Entering a Foreign
Market
New markets : Opportunity to explore and
expand
Diversification : Diversify the assets and
operations.
Access to talent : Access to new talent
pools
Competitive advantage : Gain competitive
edge over their opponents and foreign
investment opportunities

Selecting and applying variety of
models, frameworks and theories
It has been analysed that there are ample number of models frameworks and theories
are present in today’s business market which can be used by an organisation when it
comes to develop a market entry strategy through which business expansion can be
done with an ease.

Hofstede’s five dimensions
Power orientation
Individualism vs collectivism
Uncertainty avoidance
Masculinity vs. femininity
Long-term orientation vs. short-term orientation

Market entry approaches
 Direct Exporting
 Franchising
 Joint venture
 Acquisition of an Overseas Company

International market entry strategy for
Wenzel’s
Wenzel’s has used joint venture as its
market entry strategy because it is
going in trend at the moment and it
also shows clear agreements made by
both of the organisations.

Two different target markets
There are two segments on which Wenzel’s is going to rely upon and these are,
demographic and geographic segmentation. If it is talked about demographic then
and the target market will be Germany which is a part of European Union and
which has less impact of Brexit at the moment

Two different target markets
There are two segments on which Wenzel’s is going to rely upon and these are,
demographic and geographic segmentation. If it is talked about demographic then
and the target market will be Germany which is a part of European Union and
which has less impact of Brexit at the moment

Competitors of Wenzel’s :
One of the most crucial competitor of Wenzel’s i.e. Yummy slice which specifically offers
customers with same products and with quality which is being offered by Wenzel’s. On the other
hand as business organisation is looking forward to expand its business at international level like
Germany and China, it might carry a range of bakeries that are already performing good enough.

Appropriate markets
Since Wenzel’s is expanding business in Germany and China, and if these are
subdivided then there are two cities of each country on which this organisation has
kept its focus on for the Business expansion as target market and these cities are
shanghai and Beijing (china). On the other hand, Munich and Frankfurt (Germany).

Critical analysis and evaluation of the
data
If it is critically analyse then it can be
said that Wenzel’s is going to expand
its business will be much more
successful then its expectation
because all of the cities has a good
potential to expand its business in all
over the world.

Two target markets
All of the cities, that are coming in Germany and China to whom Wenzel’s is going to
target with two different segments and these are Geographic and demographic.

Market entry strategy which was used
and applied by business organisation
Joint venture is the market strategy
which Wenzel’s is going to use with
the help of this, company will
directly expand its business at
international level (Germany and
China).

Marketing mix and implementation
and product/service changes
 Product
 Price
 Promotion
 Place

Reasoning & justify all decisions
The main significance behind opting Joint Venture technique is that, this is the first
time Wenzel’s will operate its business at international level and there is no
brand image this organisation has in cities of both Germany and China in which
they are expanding.

Conclusion
With the help of above mentioned report,
it can be concluded that every single
business organisation at the time of
business expansion, it is required to
focus upon different strategies and
building up effective relations with
other organisations that are already
having knowledge related to an all
new business environment.

References
Nambisan, S., 2017. Digital entrepreneurship: Toward a digital technology
perspective of entrepreneurship. Entrepreneurship Theory and Practice.
41(6). pp.1029-1055.
Poggesi, S., Mari, M. and De Vita, L., 2016. What’s new in female
entrepreneurship research? Answers from the literature. International
Entrepreneurship and Management Journal. 12(3). pp.735-764.

Thank You