Caribbean Market Entry
In each type of market entry discussed in the slides, give examples in Trinidad and Tobago and the Caribbean at large. Which do you think is the most dominant in the region?
Market entry is a system that arranged strategy for conveying goods or services to another objective market and disseminating them there. Market entry is associated with importing and exporting. When importing or exporting goods or services it can also be referred to establishing and managing contracts within a foreign country. Import is the receiving country and export is from the sending country. Importation and exportation is the defining financial transactions of international trade. There will be various elements that will impact your decision of technique
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There are two types of exporting direct and indirect exporting. Direct export is when companies sell its products directly to customers in another country and indirect export is when companies has an intermediary and does not deal directly with international customers. For example, Sacha cosmetics Ltd founded in Trinidad over 35 years ago and distributes in over 25 countries. In addition to distribution they also sells online in North America. Sacha Cosmetics used exporting to enter new markets and they was awarded the inaugural Caribbean Exporter of the Year Awards for manufacturing and exporting. The company was expanding its warehouse space for its expansion in Cuba, North America and …show more content…
In a merger, two organizations unite to join forces to become a new business, typically with another name. For example, Phil Cleary from Canada who migrated to Trinidad in 1992 to merge with his friend to form a cable company called Trans cable and he sold part of the company to a US investor. The company was renamed Intercomm Holding and later purchased AJ Cable and Cableview. Another example is the Massy group.
Fully Owned Manufacturing Facilities companies with long term and substantial interest in foreign markets normally establish fully owned manufacturing facilities. Manufacturing abroad provides the firm with total control over quality and production. Examples within Trinidad are Nucor Corporation which is in Trinidad for over 50 years, and Trinidad Match Limited. With the Caribbean Goddard Enterprises Limited, Mega Mart and the Lasco Group.
Countertrade is the process in which goods or services are exchanged for other goods or services, rather than for hard currency. For example, Jamaica traded bauxite for dairy products in the United
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