Issues In International Business:
Question: MESP (Market Entry Strategy Project)
1) We had been appointed to a company, SK Jewellery (Singapore).
2) Assume the CEO has decided upon a global strategy to market and sell the product in China.
3) Assume the company will only choose China to enter next year, but the CEO is taking recommendations from many teams in the company.
4) Our team is in charge of researching and recommending a Market Entry Strategy for China.
5) Prepare a report of 750 words.
6) Report should cover the following areas:
A. Challenges:
Explain 3 challenges for marketing the product in China. For example, you can look into, but not restricted to, the following categories of : i) Government. ii) Physical infrastructure. iii) Economics. iv) Competitors and Substitute products.
B. Recommended Approach
– Present your collective ideas to deal with the challenges explain in point 1 above. You can tap into your personal experiences for this section.
C. Entry modes
– Recommend the most appropriate entry mode for the product in China at this time. Explain the reasons for your recommendation, eg:
i) Distributorship. ii) Licensing. iii) Franchising. iv) Joint Venture. V) Wholly-owned subsidiary.