Deborah believes that the current research is narrow-minded and she would like to understand the different ways her company can expand their brand in the global market. In order to expand her brand, Deborah must create and follow strategies that will help her company gain a competitive advantage, in their given market. Having a competitive advantage is important because it enables a company, to perform at a higher level than competitors (Grant, 2013). The other strategies that will benefit John and Deborah’s company profile are joint venture, acquisition, partnership with a local firm or strategic alliance.
One of the most powerful tools, when entering the foreign market is a joint venture. In simple forms, a joint venture is working or teaming up with a local company (Allen, 2014). Joint venture is a strategic agreement of two or companies to combine and share the market, assets, profits and burdens of each company. Joint ventures are an increasing popular business strategy for maintaining competitiveness in the global and domestic market (Sarkissian, 2014).
Joint ventures are divided into several categories. One type is fully integrated joint ventures and encompass all areas of the business including distribution, sales, marketing and manufacturing. A research joint venture is another type and shares the risks and expenses of research, needed for the company and market. A third type is production joint ventures and helps manufacture higher quality, less expensive, new or different products.
If John and Deborah chose to enter the market with a joint venture, they should seek a local company within their market. By creating a joint venture agreement with a local company, it allows John an...
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...John and Deborah can use to help gain access to a new market and help their brand. It is important to keep in mind that having multiple strategies will help ensure John and Deborah are successful in entering new markets and building their brand name.
Allen, S. (2014). Joint venturing 101 what is a joint venture and how do they work? Retrieved April 28, 2014, from http://entrepreneurs.about.com/od/beyondstartup/a/jointventures.htm
Grant, R. (2013). Contemporary strategy analysis (8th ed.). Hoboken, NJ: John Wiley & sons.
Kokemuller, N. (2014). Describe the difference between joint ventures & alliances. Retrieved April 28, 2014, from http://www.ehow.com/info_12129869_describe-difference-between-joint-ventures-alliances.html
Sarkissian, A. (2014). About joint ventures. Retrieved April 28, 2014, from http://www.ehow.com/about_5104456_joint-ventures.html
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