What approach is used to gain access to foreign markets and quickly promote an organizations interest?
Answers
There are several market entry methods that can be used.
Exporting. Exporting is the direct sale of goods and / or services in another country. ...
Licensing. Licensing allows another company in your target country to use your property. ...
Franchising. ...
Joint venture. ...
Foreign direct investment. ...
Wholly owned subsidiary. ...
Piggybacking.
Answer:
Joint approach
Explanation:
Given: _____________Approach is used to gain access to foreign markets and quickly promote an organizations interest?
Find: The name of approach.
In order to enter a market, it is frequently preferable to form a third business with a partner, particularly in developing economies. In a joint venture, the business might benefit from the partner's infrastructure, local expertise, and reputation.
Compared to licensing, it allows for greater business control and can facilitate quick expansion. Making ensuring the strategic objectives of the two organisations are compatible is a difficulty. A joint venture facilitates the sharing of the business's risks, expenses, and benefits. In other markets, it can be the only way in.
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