International Entrepreneurship: Market Entry Strategies for Wenzel

This report provides an in-depth analysis of international entrepreneurship, focusing on Wenzel's expansion strategies. It explores various market entry models, including direct exporting, licensing, and franchising, and evaluates their advantages and disadvantages. The report examines Wenzel's approach to entering both the EU market (Hamburg, Germany) and the market outside the EU (Benin, South Africa), considering factors such as market research, consumer needs, and cultural aspects. It also discusses the importance of marketing mix, promotional strategies, and the role of research and development. Furthermore, the report reflects on the learning experiences gained during the analysis, emphasizing the significance of teamwork, communication, and adaptability in a global business environment. The report also critically evaluates the chosen market entry strategy (direct exporting) for Wenzel and highlights its benefits, such as higher profits and greater control over operations. It underscores the importance of planning, coordination, and learning from others in achieving international business success.

INTERNATIONAL
ENTREPRENEURSHIP

INTRODUCTION
International entrepreneurship is an well known approach that defines about
internationalization of firms that have strong influence on entrepreneur and chain with networks
that an entrepreneur establish with the foreign country. With help of technological advancement
and due to cultural diversity that allowed to new ventures to approach towards foreign market
place to grab new opportunities to remain always competitive in marketplace by building
products and services as per market demand. This report is based on the Wenzel which is a
leader in group methodology with a wide product portfolio in which includes in 3D metrology,
computed tomography and optical speed screening and many more. This report is based on the
expansion or new entry strategies by using various models and theories to reach at desirable
goals and objectives in proper way.
CW1
Variety of models for enter into market:
For an organization it is very much important to expand in international market to remain
always competitive by evaluating the needs and wants of their consumer base in positive
manner. Before going global organization have to conduct the through research and
development so that they can know the needs and demands of consumers in better manner (Kiss,
Danis and Cavusgil, 2012). In context of Wenzel they aimed to expand in both the inside and
outside of market of EU for that they have to select best entry strategy that are as follows;
Various entry strategies:
Direct exporting:
Direct exporting related with the selling products and services directly in the market that
are chosen by an organization after evaluating its feasibility in proper manner (Terjesen, Hessels
and Li,2016). It aimed to expand in inside the EU in Hamburg city of Germany and in outside
the Benin in south Africa. So directly export their products and their existing services in new
market they can enlarge business opportunities.
Licensing:
In that an organization transfer the rights regarding the products and services to the
another firm. It is best strategy for in case purchased of license have large market share. In
context of Wenzel they can by use that market expansion tool can expand in inside and outside
the EU.
Franchising:

Franchising is a typically a process for rapid expansion by enlarge business opportunities
in international market place (Sciascia and et.al., 2012) . it works only for repeatable business
model that should be easily transferrable to another firm to meet their business objectives in
better way. In context of Wenzel they by use that entry market strategy can enlarge business
opportunities for remain always competitive in market place.
Research products:
In Wenzel research products includes the products that are existing one 3D metrology,
computed tomography and optical speed screening (Fernhaber, Gilbert and McDougall, 2014).
The major benefits behind that these products and services are needed in inside and outside the
EU that are Hamburg and in Benin.
Research markets:
Before expanding market organization have to conduct though research and development
regarding the market size and their consumer base. Their consumers are industrialists that are
become more techno savvy ( Sarasvathy and et.al., 2012). In context of Germany and Berlin in
which Wenzel aimed to expand their market have high growth market as they needed more
techno savvy products and services.
Research countries:
The major research countries are inside the European union are the Hamburg in Germany
and Berlin in south Africa outside the EU. Both the countries are have high market demand of
products of Wenzel and vast opportunities to expand. Their culture is to greet other countries that
providing best products and services at low cost in comparison to their own country. Germany
have to largest consumer market in European market with population of 82.3 million. On other
hand in south Africa which is not so much techno savvy so they need technological advancement
to remain always competitive in market place.
Market entry strategies:
There are various kinds of market entry strategies available in the market but selecting
one out of them is very much critical for them so that desirable objectives should be attained in
proper way. In context of Wenzel they can be best utilize the exporting entry market entry
strategy that are it exercises the direct control over the sales that have positive impact on
organisational revenue to get large market share by enlarge business opportunities in another
nations too (Mainela, Puhakk and Servais, 2014).
While expanding in new market organization have to build marketing mix in which each and
every activity should be planned in proper manner. Such as planning regarding product, its price,
place in which particular products should be sold out and tool to promote to reach at large
consumer base. In context of Wenzel they make available their existing products for the

industrialist of Germany and Benin. With prices should be reasonable so that every one can
access towards the products. With promotional strategy should be sales promotion to reach at
large no. of consumer base to remain always competitive in market place (Brush, 2013).
Reflection:
For an organization while operate at global level they have to plan and coordinate each
and every attribute in very effective manner. While organization aimed to expand in both inside
and outside o f the EU they have to develop various kinds of strategies and tactics to remain
always competitive in market place. In context of Wenzel while they aimed to expand in foreign
market place they build a effective team after analyzing sprit and caliber of their members while
doing that it helps me to learn how to build a effective team that only be possible after
accessibility of possible knowledge about requirement of the potential talent in organaisation. So
it enhance my team building skills that are very much potential to remain always competitive in
business world. In between sometimes I face kinds of difficulties that proved milestones in my
life to get important experience for the span. Such as to know the importance of communication
to right person at right time to get fruitful outcomes. While aimed to enlarge business
opportunities it is very much important for an individual to communicate information an
knowledge to right person so that desirable outcomes should be achieve in proper way. Further
some problems that faced by me that in an organization when some kinds of changes occurs
people never want to accept changes easily so to guide them about the importance of changes
for their career growth is very much crucial for them so that they can give their best in that
competitive work environment by fulfilling objectives and goals. In that scenario I overcome
from that rigidity of change by giving proper guidance to them with by giving training and
development so objectives should be accomplished in proper way. with for an entrepreneur it is
very much important to find out the hidden opportunities after that an individual become the well
known entrepreneur by finding out the consumer needs and wants in proper manner. In context
of Wenzel they before expanding in both inside and outside of the EU conduct the through
research and development so that feasibility of the market should be evaluated. After R&D they
can be able to know the market of Germany and Benin that industrialist have requirement of
technological advancement. With help of it they can be able to expand their existing product in
respective market so that business opportunities should be analyzed. In that aspect I should be
able to about the importance of Research to acknowledge about the requirement of new and
existing consumer base. So find out the opportunities is very much essential for an individual to
become successful entrepreneur. Further after recognition of the opportunity organization
planned each and every attribute by building effective strategies by finding out the best way to
enter into new market and one of most easiest as per the organization. So from that activity I can
be able to understand that after planning and coordinating an individual have to bring into
practical way. it can be possible after applicability of various processes. In context of Wenzel
they by planning the marketing mix and get proper knowledge about it then accordingly
implement the series of actions to get right kind of outputs in respect of their plans and policies.

So it can be said that each and every activity should be planned and coordinated in proper way so
that desirable outcomes can be achieved (Oparaocha, 2015). For an individual while going
global knowledge and information should be taken from another such as family and friends, their
respective competitors and investors that ultimately helps to know about feasibility of the idea
that organization as well as individual aimed to fulfill in near future. So it gives me teachings
that learning from others is very much crucial to avoid perils. With communication with
leadership abilities are very much important for an entrepreneur to establish in market by
understanding the potential requirement of their existing with new consumer base for
accomplishing desirable goals and objectives. With selecting the one of best source to
communicate the vision and mission of organization with stakeholders proved crucial to easily
get establish into market place. So all these important findings proved beneficial for my career
growth by enlarge opportunities.
CW2
Critically evaluation of model for entre into new market.
For an organization while operate at global level they have to plan and coordinate each
and every activity in proper way ( Zahra, Newey and Li, 2014). there are kinds of strategies to
operate at global market and all have their own advantages and disadvantages that affect on the
decision making of an organization to choose one of them. In context of Wenzel they aimed to
expand in inside and outside of the European union in that inside Hamburg in Germany and
outside Benin in south Africa with their existing products to enlarge business opportunities to
remain always competitive in marketplace. For that they plan and coordinate the one of best
entry strategies to entre in market by critically evaluate their factors that are as follows:
From above discussion in which kinds of methods should be elaborated from them Wenzel
choose one of best method that direct exporting.
Direct exporting refers to the deliver the products and services directly to their potential
consumer base. It can be only possible by delivering regional and oversees consumers after
making or giving order of products and services to get desirable outcomes. It can be possible
after conducting the market research, examination of the foreign distribution system with modes
of various shipment modes and best method to pay to another party. So all these are only
possible after gather knowledge and information to get right kind of outputs to fulfill
organisational goals and objectives (Zucchella and Magnani, 2016). So in context of Wenzel
they choose that method to expand in foreign market by accessing the needs and wants of
consumer base to remain always competitive in market place. There are some potential
advantages for Wenzel behind choosing that method for expanding their market that are as
follows:
Advantages of direct exporting:

With the help of direct exporting organization can be able to make higher profits that are
very much important for them to remain always competitive in market place that it enables to
eliminate the middlemen that takes huge money in between the transaction that hinders self
interest of an organization to get right kind of outputs ( Dimitratos and et.al., 2012). In context
of Wenzel they choose that method of expansion so that they can reach directly to their potential
consumers by eliminating the middle man in between them.
Direct exporting provides the total control to the owner while transacting for goods and services
to the ultimate consumer base by coordinating each and every attribute of expenses and income
related while dealing in business environment. In context of Wenzel they by using it can possess
over all control on their activities by transacting goods and services for better results.
It proved beneficial to know the needs and demands of consumers by conducting the through
research and development to build produce products as per their needs so that loyalty of
consumer should be maintained. In context of Wenzel they by using that tool find out the major
interest areas of their consumers and after that judge the feasibility of market to remain always
competitive in marketplace.
Direct exporting not only proved beneficial for organization but also for another party also that it
create satisfaction level because it gives proper understanding about goods and services (
Dimitratos and et.al., 2012).. while consumer acknowledge regarding products and services they
can trust on them and it enhance the ratio of orders so it directly impacts positively on
organisational profitability. In context of Wenzel by that tool they can be able to give
information about their products and services to their potential stakeholders that connect
emotionally to them which is very much crucial for them.
Direct exporting proved beneficial for organization to create a sense of understanding about taste
and preferences of their against party. While they know requirements of their potential
consumers then Wenzel can easily build or create promotional and make possible product at right
place so that they can give best products to their ultimate consumer base at time of expansion of
market in international market place.
It helps in communicate in effective manner as organization can be able to create brand loyalty in
front of their consumers so they in case of any mis happening not immediately quit the product
but share the problem that they face. In that situation Wenzel can be able to give their best
possible efforts to remain always competitive in market place by giving best services to
consumer that are non imitable and rare in nature.
In context of direct exporting it is easy to protect the products and services by using copyrights
and trademarks so that no one can copy their products and services that ultimately proved
beneficial for organization to give rare products and services to their potential stakeholders (
Zahra, Newey and Li, 2014).. So it can be said that direct exporting is one of most important

strategy while entre into new market space by finding out possible opportunities to remain
always competitive in marketplace.
But there are some disadvantages also that possessed by direct exporting but it can be at
maximum level eliminated by building various strategies and tactics so here are the
disadvantages of direct exporting:
Disadvantages of direct exporting:
Direct exporting requires extra time and money to reach at large no. of consumer base by
eliminating the middle man so it enhance the responsibility to convey and deliver best efforts
with out help of them. Without the middle man WenZel can not be able to deliver right products
at right time that hinders self interest of them.
In direct exporting before expansion in foreign market organization requires strong consumer
relationship that should be the result of efforts of long time (Peiris, Akoorie and Sinha, 2012).
Building a strong relationship with consumers requires lot of time and efforts that can be
possible by delivering best quality of products and services to consumers.
While using the entry strategy if an organization chooses direct exporting they have to be
accountable for each and every activity that are part until delivery to the ultimate consumer base.
So entrepreneur have to spend lot of time and efforts to manage and coordinate each and every
attribute in proper manner that ultimately harm the self interest of an organization as well as
individual to get right kinds of outputs. In context of wenzel they have to be plan and coordinate
each and every important thing while going global that enhance their level of responsibility to
remain always competitive in marketplace.
While expanding in foreign market goods should be passed from a long path that takes huge time
and money (Al–Aali and Teece, 2014). In direct exporting without the help of intermediate
losses of goods should be enhanced because no one present to look after the products until it
reaches to final consumer. So there are some plans that should be prepared to get right kind of
outputs in organisational development and enhancement to remain always competitive in
marketplace.
From the above discussion it has been analyzed that proper planning and coordinating
each and every attribute is very much important for an organization before implementation. It
enhance my level of understanding that deliver right information at right time is very much
potential for an individual that responsible for particular task. From that module I can be able to
deliver the potential requirement of data and statistics to take right kind of decisions by put best
efforts in organisational growth and to become a successful entrepreneur. Choose one of best
strategy is one of critical work so in that context an individual have to evaluate strategies of their
competitors so that best results should be accomplished.

CONCLUSION
From the above report it has been summarized that for an organization it is very much
important to enlarge business opportunities to remain always competitive in market place. For
that they have to build various kinds of strategies and tactics that helps in taking various crucial
decisions. Before going global organization have to evaluate each and every attribute such as
feasibility of market, competitors strategy and taste and preferences of consumers and many
more so that better results should be accomplished.
REFERENCES
Books and journals:
Kiss, A.N., Danis, W.M. and Cavusgil, S.T., 2012. International entrepreneurship research in
emerging economies: A critical review and research agenda. Journal of Business
Venturing. 27(2). pp.266-290.
Terjesen, S., Hessels, J. and Li, D., 2016. Comparative international entrepreneurship: A review
and research agenda. Journal of Management. 42(1). pp.299-344.
Sciascia, S., Mazzola, P., Astrachan, J.H. and Pieper, T.M., 2012. The role of family ownership
in international entrepreneurship: Exploring nonlinear effects. Small Business
Economics. 38(1). pp.15-31.
Fernhaber, S.A., Gilbert, B.A. and McDougall, P.P., 2014. International entrepreneurship and
geographic location: an empirical examination of new venture internationalization.
In Location of International Business Activities (pp. 94-136). Palgrave Macmillan,
London.
Sarasvathy, S., Kumar, K., York, J.G. and Bhagavatula, S., 2014. An effectual approach to
international entrepreneurship: Overlaps, challenges, and provocative
possibilities. Entrepreneurship Theory and Practice. 38(1). pp.71-93.
Mainela, T., Puhakka, V. and Servais, P., 2014. The concept of international opportunity in
international entrepreneurship: a review and a research agenda. International journal
of management reviews. 16(1). pp.105-129.

Brush, C., 2013. International entrepreneurship (RLE International Business): the effect of firm
age on motives for internationalization. Routledge.
Zahra, S.A., Newey, L.R. and Li, Y., 2014. On the frontiers: The implications of social
entrepreneurship for international entrepreneurship. Entrepreneurship Theory and
Practice. 38(1). pp.137-158.
Zucchella, A. and Magnani, G., 2016. International entrepreneurship: theoretical foundations
and practices. Springer.
Dimitratos, P., Voudouris, I., Plakoyiannaki, E. and Nakos, G., 2012. International
entrepreneurial culture—Toward a comprehensive opportunity-based
operationalization of international entrepreneurship. International Business
Review. 21(4). pp.708-721.
Al–Aali, A. and Teece, D.J., 2014. International Entrepreneurship and the Theory of the (Long–
Lived) International Firm: A Capabilities Perspective. Entrepreneurship Theory and
Practice. 38(1). pp.95-116.
Peiris, I.K., Akoorie, M.E. and Sinha, P., 2012. International entrepreneurship: A critical analysis
of studies in the past two decades and future directions for research. Journal of
International Entrepreneurship. 10(4). pp.279-324.
Oparaocha, G.O., 2015. SMEs and international entrepreneurship: An institutional network
perspective. International Business Review. 24(5). pp.861-873.
Jones, M.V. and Casulli, L., 2014. International entrepreneurship: Exploring the logic and utility
of individual experience through comparative reasoning
approaches. Entrepreneurship Theory and Practice. 38(1). pp.45-69.