ENTREPRENEURSHIP

Detailed explanation-1: -Global expansion is the process by which companies from one market (often referred to as their home market) expand operations into a foreign market (often referred to as the target market).

Detailed explanation-2: -Global competition is when companies compete to sell goods and services on an international scale. As technology, transportation, and communication systems have improved, competition among companies in different countries has soared. The television industry is a perfect example of this.

Detailed explanation-3: -Globalization leads to increased competition. This competition can be related to product and service cost and price, target market, technological adaptation, quick response, quick production by companies etc. When a company produces with less cost and sells cheaper, it is able to increase its market share.

Detailed explanation-4: -Consider international trade as a growth opportunity. Investigate franchising for global expansion. Evaluate your competition’s international business. Develop a master international marketing plan. Dedicate personnel, a budget, and appropriate procedures. More items