[국제경영론] Entering foreign markets

국제경영론 International Business

Chapter. Entering foreign markets

- 외국 시장에 진입할 때 3가지 필수 결정사항 : where when how

• where : which market ? - market size, 자사 제품에 관심있는 소비자의 비율과 그 양, 정치 사회적인 안전성, 플레이어들과의 경쟁 구도, 언어 등 고려
  • 200개가 넘는 국가들이 존재, 191개는 UN 회원국임
  • location decision depends on (1) match between strategic goal & location advantage (2) Attractiveness of political, economic, legal, cultural environments
  • match between strategic goals (what the firm seeks) and location advantage (what the country offers)strategic goals (what the firm seeks) location advantage (what the country offers) examples

natural resource seeking	Possession of natural resources and related transport and communication infrastructure	Oil in the Middle East, Russia, and Venezuela → energy company에 매력적
market seeking	Abundance of strong market demand and customers willing to pay	Seafood in Japan → seafood supplier에게 유리함 왜냐 japan은 해산물 소비량이 높으므로
efficiency seeking	Economies of scale and abundance of low-cost factors	Manufacturing in China → 이유는 값싼 노동력 , 요즘은 아마 베트남,,?
innovation seeking	Abundance of innovative individuals, firms and universities	IT in Silicon Valley and Bangalore, financial services in New York and London, and aerospace in Russia

 

• when : timing is important → enter .. too early : risky , late .. first mover advantage 놓침 - 경쟁사의 준비정도, economy cycle, weather , political things 등 고려
  • first mover advantages
    • Preempt rivals and capture demand by establishing strong brand name → prevent new entrants, and market leader이 될 가능성이 높음 , 물건을 떠올렸을 때 해당 회사 이름이 먼저 떠오른다면 !
    • Build sales volume in that country and ride down experience curve ahead of rivals and gain a cost advantage over later entrants.
    • Create switching costs that tie customers to 1st mover’s products and services
  • first mover disadvantages (pioneering costs)
    • The follower may benefit by learning from the mistakes made by the first mover.
    • The first mover “educates” customers for followers (e.g., KFC in China) kfc 가 firstmover, 맥도날드와 버거킹을 따라오는 애들 → differentiation 에 더욱 집중할 수 있었음 
    • Regulations may change due to 1st mover’s effort; Followers benefit from 1st mover’s efforts/costs later entrants can enter the market in a very clean guideline
• How : what scale and what nature should this entry have? - exporting, licensing, franchising 등등 entry mode, and scale of entry