Four types of distance that firms should consider when choosing which foreign markets to enter.
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5 Factors You Must Consider While Your Company is Entering to a New Market :
- Economic Factors: Not all countries will be attractive for all companies.
- Social and Cultural Factors .
- Political and Legal Factors .
- Market Attractiveness.
- Capability of the Company.
Some of the most common market entry strategies are: directly by setup of an entity in the market, directly exporting products, indirectly exporting using a reseller, distributor, or sales outsourcing, and producing products in the target market. Others include: Licensing. Greenfield project.
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