Business

Question 1

Emerging market

Answer 1

Economy not as strict of efficient as advanced market
P
Provides opportunity to

Obtain large market share
Access customers with growing disposable income
Build the brand as prestigious or scarce

Question 2

Strategies to expand

Answer 2

Niche market: Smaller market focuses on specifics

Innovation: Apply innovative theories and practices to gain competitive advantage

Research and development: Improve products better than competitors to gain competitive edge

Emerging technologies

Question 3

Common modes pf entry

Answer 3

Directly exporting or importing

Contractual agreements: licensing, joint ventures

Outsourcing

Question 4

Outsourcing

Answer 4

Transfer certain business activities to external people

Allows business to focus on core activities

Risks: Reliance on 3rd parties, misaligned interests

Benefits: Specialized skills, cost efficiency

Question 5

Challenges in maturity stage

Answer 5

Challenges already exist: Inability to grow, fulfilment of existing market

Surpass the maturity stage
Create further opportunity’s and markets

Question 6

Domestic vs Global

Answer 6

Domestic: Inside own country. Similar to current business market

Global: International

More uncertainty and risks

Requires in depth strategic planning and research before committing