International Entrepreneurship: Strategies and Models for Market Entry

International
Entrepreneurship

Table of Contents
Table of Contents.............................................................................................................................1
INTRODUCTION...........................................................................................................................2
CW1.................................................................................................................................................2
Research product/ services..........................................................................................................2
Research appropriate markets (eg size, growth, customers etc)..................................................4
Research countries/regions (eg finance, culture, ease etc)..........................................................4
Critically synthesize, analyse and evaluate your information.....................................................4
Explain what market entry strategies you would use, why these are appropriate and how you
would apply them........................................................................................................................4
Demonstrate what marketing mix you would use and how you would implement these, in any
necessary product/service changes..............................................................................................6
Justification of which target market would be best to enter........................................................6
CW2.................................................................................................................................................7
Select and critically evaluate one of the appropriate models, frameworks or theories which you
have used in the process of CW...................................................................................................7
How has the formative feedback have received influenced approach to learning and how has
that feedback helped (or not) you apply your international entrepreneurship models,
frameworks or theories?..............................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCE................................................................................................................................10
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INTRODUCTION
International entrepreneurship is the process that covers discovery and enhancement of
different opportunities across the national boundaries in order to creating future products and
services. This is consider as global dream of all entrepreneurs as they wants top e3nter in to
international market and increase their business activities. Such entrepreneurs have special
knowledge and experience that helps to manage and organise activities and cross the national
border (Drobyazko and et. al., 2019). This is important for organisation and person to have
different types of products and planning which can help to take the competitive advantages.
Entrepreneurs are playing different role as they bring new ideas and thoughts in their business
and attaining the business goals. To understand about this Eggfree Cake Box Limited that is UK
based organisation providing cakes without using eggs. This cake is most on demand which
helps to establish their business in new market. This report is classified in two sections the first
covers different models and strategies that uses to enter in to international market. Moreover,
second section covers appropriate uses of model that helps in international process and running
business effectively by targeting two nations.
CW1
The Egg free Cake Box Limited opened its first store in the heart of East London in 2008.
The mission of organisation is to provide the UK market with new concept, by delivering
delicious fresh cream celebration cakes that is prepared without using eggs. This organisation
wants to increase their sale by providing variety of products and services by entering in to
international market. The target market for Egg free Cake Box Limited is European Union and
Scotland that will help to increase their sale and profitability. The management of such
organisation are making strategies and plans to enter and getting the competitive advantages
effectively (Kraus and et. al., 2019).
Research product/ services
The Egg Free Cake Box Limited is cake making company that is providing products and
services effectively and managing activities in competitive world. The feature of such cake is so
light and fluffy which is made to a high and recipe are using day by day. The quality and value
of products is fantastic, delicious product and best in taste which attracts customers and
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managing the business performance in international market. The Porter’s five forces model is
used by such organisation that helps to take the competitive benefits such as:
Porter’s five forces model – This is competitive analysis which is developed in 1979by
Michael E Porter. This is used to evaluate the competitive strength and position of their business.
This mode is used by Egg Free Cake Box Limited that is defined below:
Bargaining power of suppliers – This has stated that how easy it is for suppliers to drive their
prices. In European nation, there are many suppliers who are selling raw materials is purchased
by Egg Free cake Box company at supplier’s prices. It has been seen that there are less number
of organisation who are baking egg free cake. Therefore, it is an opportunity for such
organisation to buy raw material from suppliers after bargaining. The power of suppliers in
international market is low which helped to establish a business and get competitive benefits
(Boudreaux, Nikolaev and Klein, 2019) (Sergi and et. al., 2019).
Bargaining power of buyers – This means how it is easy for buyers to drive the prices
down in order to buy the products and services. The target market for chose organisation is
European Union state such as London where number of buyers who are demanding egg free
cakes. The bargaining power of buyers in such market is low that is giving benefits to Egg Free
Cakes Box Limited to sale its different products and services at their set prices that can help to
make the profits and productivity.
Competitive rivalry – This is main driver that involves capability and capacity of competitors in
order to run their particular business. In other words, competitors are those who are selling
products and increasing their business activities. In context to Egg Free Cake Limited
competitors are bakery and food court that also get prepare egg free cakes on special demand of
customers which has created a competition and running their business effectively (Kollmann,
2019).
Threat of substitution – This means there is close substitution product exist in market
which has running business by attracting customers. In European Union there is substitution of
cakes are Apple Sauce, Nut Butter, Yogurt and Butter milk that can be used by people instead of
cake. These are also creating competition and have chances to reduce the selling.
Threat of new entry – This means probable markets attracts new entrants which impacts
on existing organisation negatively. In target market such as European Union threat of new
entrants is high which is reducing productivity and profitability of organisation. In context to
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