strategies for market entry

Market entry strategies are plans a company uses to start selling its products or services in a new area. Common approaches include exporting, where goods are sold abroad; forming partnerships or joint ventures with local companies to share resources and knowledge; opening new branches or stores directly; or licensing, where a local firm is given rights to produce or sell the product. Each strategy depends on factors like market size, local regulations, and competition. Choosing the right approach helps reduce risks, control costs, and build a foothold in the new market effectively.