The document discusses various market entry strategies including new product development, franchising, sponsorship, and acquisition. It provides details on each strategy such as defining the product, identifying market needs, and establishing timelines for new product development. Franchising is described as a long-term partnership that allows sharing of a brand, business method, and marketing system. Sponsorship involves financially supporting an event/organization in return for commercial opportunities. Acquisition refers to one company purchasing most or all of another firm to gain control of it.
In this ppt i have a detailed information on Objectives of Business Research
Subscribe to Vision Academy for Video assistance https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
The Concept
A stable strategy arises out of a basic perception by the management that the firm should concentrate on using its present resources for developing its competitive strength in particular market areas.
In simple words, stability strategy refers to the company’s policy of continuing the same business and with the same objectives
A firm pursues stability strategy when
1. It continues to serve the public in the same product or service, market, and function sectors as defined in its business definition.
2. Its main strategic decisions focus on incremental improvement of functional performance.
2. Corporate Restructuring is the process of redesigning one or more aspects of a company.
3. The process of reorganizing a company may be implemented due to a number of different factors, such as positioning the company to be more competitive, surviving a currently adverse economic climate, or acting on the self confidence of the corporation to move in an entirely new direction.
An Organization Should Approach All Tasks With The Idea That They Can Be Accomplished In A Superior Fashion
An organization capability refers to the way systems and people in the organization work together to get things done. The way leaders foster shared mindsets, orchestrate talent, encourage speed of change, collaborate across boundaries, and learn and hold each other accountable define the company's culture and leadership edge.
The firm’s ability to manage people
to gain competitive advantage.
• focuses on internal processes and systems for meeting customer needs
• creates organization-specific competencies that provide competitive advantage since they are unique
• ensures that employee skills and efforts are directed toward achieving organizational goals and strategies
A document issued by a recognized agency, and dealing with design and safety requirements relating to a specific product.
EXAMPLES
The U.S. Occupational Safety and Health Administration (051-IA) and the American National Standards Institute (ANSI).
OSHA standards are generally legally binding for an employer,
while ANSI standards are generally of an advisory nature. set industry standards with input from industry representatives and consumers.
“ Value Chain Analysis (VCA) is a process where a firm identifies its primary and support activities that add to its final product and then analysis to reduce costs or increase differentiation.”
“ Value Chain represents the internal activities a firm engages in when transforming inputs into outputs.”
Organizational Appraisal is the process of monitoring an organization’s internal environment to identify strengths and weaknesses that may influence the firms ability to achieve GOALS. It include identifying strengths and weaknesses.
A document issued by a recognized agency, and dealing with design and safety requirements relating to a specific product.
EXAMPLES
The U.S. Occupational Safety and Health Administration (051-IA) and the American National Standards Institute (ANSI).
OSHA standards are generally legally binding for an employer,
while ANSI standards are generally of an advisory nature. set industry standards with input from industry representatives and consumers.
A measurement of the quality
of an organization's policies, products, programs, strategies, etc., and their comparison with standard measurements, or similar measurements of its peers.
In this ppt i have a detailed information on Objectives of Business Research
Subscribe to Vision Academy for Video assistance https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
The Concept
A stable strategy arises out of a basic perception by the management that the firm should concentrate on using its present resources for developing its competitive strength in particular market areas.
In simple words, stability strategy refers to the company’s policy of continuing the same business and with the same objectives
A firm pursues stability strategy when
1. It continues to serve the public in the same product or service, market, and function sectors as defined in its business definition.
2. Its main strategic decisions focus on incremental improvement of functional performance.
2. Corporate Restructuring is the process of redesigning one or more aspects of a company.
3. The process of reorganizing a company may be implemented due to a number of different factors, such as positioning the company to be more competitive, surviving a currently adverse economic climate, or acting on the self confidence of the corporation to move in an entirely new direction.
An Organization Should Approach All Tasks With The Idea That They Can Be Accomplished In A Superior Fashion
An organization capability refers to the way systems and people in the organization work together to get things done. The way leaders foster shared mindsets, orchestrate talent, encourage speed of change, collaborate across boundaries, and learn and hold each other accountable define the company's culture and leadership edge.
The firm’s ability to manage people
to gain competitive advantage.
• focuses on internal processes and systems for meeting customer needs
• creates organization-specific competencies that provide competitive advantage since they are unique
• ensures that employee skills and efforts are directed toward achieving organizational goals and strategies
A document issued by a recognized agency, and dealing with design and safety requirements relating to a specific product.
EXAMPLES
The U.S. Occupational Safety and Health Administration (051-IA) and the American National Standards Institute (ANSI).
OSHA standards are generally legally binding for an employer,
while ANSI standards are generally of an advisory nature. set industry standards with input from industry representatives and consumers.
“ Value Chain Analysis (VCA) is a process where a firm identifies its primary and support activities that add to its final product and then analysis to reduce costs or increase differentiation.”
“ Value Chain represents the internal activities a firm engages in when transforming inputs into outputs.”
Organizational Appraisal is the process of monitoring an organization’s internal environment to identify strengths and weaknesses that may influence the firms ability to achieve GOALS. It include identifying strengths and weaknesses.
A document issued by a recognized agency, and dealing with design and safety requirements relating to a specific product.
EXAMPLES
The U.S. Occupational Safety and Health Administration (051-IA) and the American National Standards Institute (ANSI).
OSHA standards are generally legally binding for an employer,
while ANSI standards are generally of an advisory nature. set industry standards with input from industry representatives and consumers.
A measurement of the quality
of an organization's policies, products, programs, strategies, etc., and their comparison with standard measurements, or similar measurements of its peers.
Entrepreneurial motivation is the process of transforming an ordinary individual to a powerful businessman, who can create opportunities and helps in maximizing wealth and economic development. It is defined as various factors stimulate desires and activates enthusiasm in entrepreneurs which make them attain a particular goal. Entrepreneurship is the process of identifying strengths and opportunities which help in the realization of one’s dreams for designing, developing and running a new business by facing threats and risks effectively.
Internal factors
External factors
Need for self-actualization
Optimism
Positive attitude
Self-motivation
Enthusiasm
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Entrepreneurial motivation is the process of transforming an ordinary individual to a powerful businessman, who can create opportunities and helps in maximizing wealth and economic development. It is defined as various factors stimulate desires and activates enthusiasm in entrepreneurs which make them attain a particular goal. Entrepreneurship is the process of identifying strengths and opportunities which help in the realization of one’s dreams for designing, developing and running a new business by facing threats and risks effectively.
Internal factors
External factors
Need for self-actualization
Optimism
Positive attitude
Self-motivation
Enthusiasm
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
The Business Plan, The Business Planning Process, Strategic Planning, Analysing The Environment, Analysing The Firm, Industry And Competitor Analysis, Product And Portfolio Analysis, SWOT Analysis, Generating Strategic Options, Market Analysis And Strategy , Market Forecasting, The Operational Plan, Model The Business, Accounting Principles, Completing The Financial Statements, Reviewing The Financial Statements, Evaluating Strategic Options, Funding Issues, Risk Analysis, Presenting The Business Plan And Obtaining Approval, Implementing The Business Plan, Sayeed Alam, 9910479355
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Innovation is generally considered to be the result of a process that brings together various novel ideas in a way that they have an impact on society.
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Competition is not just another business that might take money away from you. It can be another product or service that's being developed and which you ought to be selling or looking to license before somebody else takes it up.
Check out: www.eleaderstochange.com
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2. A market entry strategy is the planned method of delivering goods or services to a new
target market and distributing them there.
When importing or exporting services, it refers to establishing and managing contracts
in a foreign country.
Types of Entry Strategies:
1) New Product
2) Franchising
3) Sponsorship
4) Acquisition
3. 1} New Product:
With a well-considered new product development (NPD) strategy, you can avoid wasting time,
money and business resources. An NPD strategy will help you organise your product planning and
research, capture your customers' views and expectations, and accurately plan and resource your
NPD project.
Your strategy will also help you avoid:
• overestimating and misreading your target market
• launching a poorly designed product, or a product that doesn't meet the needs of your target
customers
• incorrectly pricing products
• spending resources you don't have on higher-than-anticipated development costs
• exposing your business to risks and threats from unexpected competition.
There are several important steps you will need to plan into your NPD strategy:
a) Define your product
b) Identify market needs
c) Establish time frames
d) Identify key issues and approaches
4. a) Define your product:
• An accurate description of the product you are planning will help keep you and your team
focused and avoid NPD pitfalls such as developing too many products at once, or running out
of resources to develop the product.
b) Identify market needs
• Successful NPD requires a thorough knowledge of your target market and its needs and wants.
A targeted, strategic and purposeful approach to NPD will ensure your products fit your
market.
Ask yourself:
i. What is the target market for the product I am proposing?
ii. What does that market need?
iii. What is the benefit of my proposed new product?
iv. What are the market's frustrations of existing products of its type?
v. How will the product fit into the current market?
vi. What sets this product apart from its competition?
• Draw on your existing market research. You may need to undertake additional research to test
your new product proposal with your customers. For example, you could set up focus groups
or a customer survey.
5. c) Establish time frames:
• You need to allow adequate time to develop and implement your new products.
• Your objectives for developing new products will inform your time frames and your deadlines
for implementation.
• Be thoughtful and realistic.
• Some objectives might overlap but others will be mutually exclusive.
• Your objective to race against your competition will require efficiency from your team.
• Your aim to achieve a specific launch date will be influenced by demand for seasonal products
and calendar events.
• Your aim to be responsive to your customers' needs and demands will require time for research
to ensure you develop the right products at the right time.
• Your objective to stick to business as usual and maintain other schedules will affect the
resources you make available for NPD.
6. d) Identify key issues and approaches:
• There are many tasks involved in developing a product that is appropriate for your customers.
• The nature of your business and your idea will determine how many of these steps you need
to take. You may be able to skip or duplicate certain stages, or start some of them
simultaneously.
• Key tasks include:
a) generating and screening ideas
b) developing and screening concepts
c) testing concepts
d) analysing market and business strategy
e) developing and market testing products
f) implementing and commercialising products.
7. 2} Franchising:
• Franchising is a long term partnership and companies who wish to be successful must recognise the true
nature of the relationship, and the responsibilities on each partner.
• Typically a franchisee will pay a franchisor: a license or purchase fee. a percentage of the sales or profits. an
annual fee.
• Franchising is one of three business strategies a company may use in capturing market share.
• The others are company owned units or a combination of company owned and franchised units.
• Franchising is a business strategy for getting and keeping customers.
• It is a marketing system for creating an image in the minds of current and future customers about how the
company's products and services can help them.
• It is a method for distributing products and services that satisfy customer needs.
• Franchising is a network of interdependent business relationships that allows a number of people to share:
• A brand identification
• A successful method of doing business
• A proven marketing and distribution system
• In short, franchising is a strategic alliance between groups of people who have specific relationships and
responsibilities with a common goal to dominate markets, i.e., to get and keep more customers than their
competitors.
8. 3} Sponsorship:
• To sponsor something is to support an event, activity, person, or organization financially or through the
provision of products or services.
• A sponsor is the individual or group that provides the support, similar to a benefactor.
• Sponsorship is a cash and/or in-kind fee paid to a property (typically in sports, arts, entertainment or
causes) in return for access to the exploitable commercial potential associated with that property.
• While the sponsoree (property being sponsored) may be non-profit, unlike philanthropy, sponsorship is
done with the expectation of a commercial return.
• While sponsorship can deliver increased awareness, brand building and propensity to purchase, it is
different from advertising.
• Unlike advertising, sponsorship can not communicate specific product attributes. Nor can it stand alone, as
sponsorship requires support elements.
• All sponsorship should be based on contractual obligations between the sponsor and the sponsored party.
Sponsors and sponsored parties should set out clear terms and conditions with all other partners involved,
to define their expectations regarding all aspects of the sponsorship deal. Sponsorship should be
recognisable as such.
• The terms and conduct of sponsorship should be based upon the principle of good faith between all parties
to the sponsorship. There should be clarity regarding the specific rights being sold and confirmation that
these are available for sponsorship from the rights holder. Sponsored parties should have the absolute right
to decide on the value of the sponsorship rights that they are offering and the appropriateness of the
sponsor with whom they contract.
9. Categories of Sponsorship:
Title sponsor is highest status of sponsorship.
It characterizes the most significant contribution to a company in organizing and hosting an event.
Often the name of such sponsor is placed next to the name of competition, teams, individual
athletes and is associated with it (for example, the logo of a title sponsor is placed on a uniform of
football club teams).
The status of a title sponsor also allows to have a decisive voice on the issue of presence among
sponsors other companies operating in the same business, the priority right to use players and
coaches for conducting joint promotions, right of presence at all official events dedicated to a
sports event, mandatory mentioning in all activities conducted on behalf of the team, highlighting
the name of title sponsor in film credits, television programs which were created with its financial
support, placement of logos and banners.
In case of title sponsor's presence the general sponsor position may remain free.
10. General sponsor is a sponsor that makes one of the largest contributions (in absence of a title
sponsor - usually more than 50% of all sponsorship funds raised) and that receives for it the
right to use the image of competition as well as extensive media coverage. If necessary, the
status of the general sponsor may be supplemented by the general sponsors for certain
categories, as well as the main sponsor.
Official sponsor is a sponsor that makes a certain part of raised funds (within 20-25%). Typically,
the given status may be granted by category ("official insurance partner", "official automotive
partner", etc.).
Technical sponsor is a sponsor which promotes organization of sporting events through the
partial or full payment of goods and services (e.g., medical equipment, fitness, organization of
transportation and lodging).
Participating sponsor is a company, the sponsorship fee size of which usually does not exceed
10% of total raised funds.
Informational sponsor is an organization that provides informational support through media
coverage, conducting PR-actions, joint actions, etc.
11. 4} Acquisition:
• An acquisition is a corporate action in which a company buys most, if not all, of
another firm's ownership stakes to assume control of it.
• An acquisition occurs when a buying company obtains more than 50%
ownership in a target company.
• As part of the exchange, the acquiring company often purchases the target
company's stock and other assets, which allows the acquiring company to make
decisions regarding the newly acquired assets without the approval of the target
company’s shareholders.
• Acquisitions can be paid for in cash, in the acquiring company's stock or a
combination of both.
12. Why Make an Acquisition?
1. Companies perform acquisitions for various reasons.
2. They may be seeking to achieve economies of scale, greater market share,
increased synergy, cost reductions, or new niche offerings.
3. If they wish to expand their operations to another country, buying an existing company
may be the only viable way to enter a foreign market, or at least the easiest way:
4. The purchased business will already have its own personnel (both labor and management),
a brand name and other intangible assets, ensuring that the acquiring company will start off
with a good customer base.
5. Acquisitions are often made as part of a company's growth strategy when it is more
beneficial to take over an existing firm's operations than it is to expanding on its own.
6. Large companies eventually find it difficult to keep growing without losing efficiency.
7. Whether because the company is becoming too bureaucratic or it runs into physical or
logistical resource constraints, eventually its marginal productivity peaks.
8. To find higher growth and new profits, the large firm may look for promising young
companies to acquire and incorporate into its revenue stream.
13. 9. When an industry attracts too many competitor firms or when the supply from existing firms
ramps up too much, companies may look to acquisitions as a way to reduce excess capacity,
eliminate the competition, or focus on the most productive providers.
10. If a new technology emerges that could increase productivity, a company may decide that it
is most cost-efficient to purchase a competitor that already has the technology.
11. Research and development may be too difficult or take too much time, so the company
offers to buy the existing assets of a company that has already gone through that process.