Describe techniques companies may use to enter or grow markets in other countries. Evaluate the benefits and pitfalls of several of these tactics.

Companies enters the foreign market through several tactics. But it has both advantages and disadvantages in doing so.

Explanation:

If there are opportunities in the foreign of the goods and a good market prospects, one can invest and expand his or her business in the foreign market. However, there are some difficulties in entering a new market in other countries which may include new competition in the market as well adapting a new environment regulatory.

Some of the ways by which one can enter the foreign market are License agreement, joint ventures, online sales of product, purchasing some of the foreign assets, etc.

The advantages are :

-- Selling products online is a low cost method. It is more convenient than having a physical asset in the foreign land.

-- Cost of establishment is saved.

The disadvantages are :

-- The freight cost will be high to and from the country.

-- There will be no direct control and one will be reliable on the association.

-- The potential country may have some strict rules and regulations for business contracts, franchises, licenses or partnerships, etc.

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