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MKT 8035 WORKSHEET # 3 MARKET ENTRY
TEAM # _____4____
SEC # ______8______
Discussion among all team members should take place and answer the following questions. The questions are meant to stimulate discussion amongst your team and flush out ideas for your final team project.
The Country that your team has chosen to enter is the United Kingdom.
Review the Market Entry strategies your team has discussed. (You can do this in point form, a matrix, a chart) Chapter 9
Evaluate the Market Entry Strategies using company vision, attitude toward risk, available investment capital, and how much control is desired. Decide which entry strategy your team wishes to pursue.
Strategy
Brief description Yes or No Exporting
Yes
, it is the
main source to earn revenue
and expand a business.
Sugandh Tea
would like to export 0.22 Lb, 0.55 Lb, 1.1 Lb packing of tea
to UK
Licensing
Yes, the license is required for the firm to comply with customs duty and GST while exporting. It generates a high return on investment and has a minimal implementation cost.
Contract Manufacturing
No, Sugandh Tea companies do not outsource their products since it may produce a change in the flavor of the tea.
Joint Venture
No, as a new firm, no one will want to form a joint venture with us.
Equity Stake or Acquisition
Yes, the firm offers equity shares privately to raise funds and begin operations in UK after gaining experience.
What is the Sustainable Competitive Advantage that your product(s) have over others – going into the Global Market. (Answer the Question- Why will the target market buy your product or service over the current one?)
A sustainable competitive advantage enables a firm to outperform its competitors in the market. Our product has various features that show it can compete with other items on the market.
The advantages of our products are given below-
1. Reasonable pricing:
To enter the British market, our tea will be priced lower. However, once customers are acquired, the company will offer promotional schemes such as a 20% discount on 1.1 Lb packs of tea.
2. Available for consumer convenience:
- Our product offers a wide variety, from small to large packs. The company provides a variety of packaging and flavor choices, allowing consumers to purchase according to their convenience, necessity, and taste.
3. Quality
– Our product is lightly processed, which means it is entirely natural. There are no preservatives used, and it is made with the highest quality fresh tea leaves.
4. Health effective
– Sugandh tea has a lower caffeine content than any other brand, which is
advantageous for well-being.
Some studies found that it helped patients lose weight and reduced the risk of heart attacks.
Be sure to indicate your intext citations and references. Your Final Team Project will be much easier to put together.
EXAMPLES: (for an Article – look at @APA for other formats)
Intext Citation: (Authors's Last Name, Year of Publication, p.#)
Reference: Author, (Year,Month Day). Title of Article. Title of Magazine
. DOI or (Retrieved month day year, database name/URL
Intext Citation(s): (
Buy Sugandh Masala Tea Online | Instant Premix Powder Online
, 2023b)
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