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1、1.0 IntroductionThis report is the outcome1&2 of International Marking: An Introduction. This report will describe the PK Electrics and this company was established in 1987 in Ningbo, Zhejiang province, China. PKs products are used in the manufacture of other electrical items and sell them to anothe
2、r company. Then, PK began products for themselves. This company had focused on the trade market and has competitive advantage. But over the last two years the rate of growth to decrease with sales. Therefore, the PK will into the international market and expand the new market.2.0 The reasons of ente
3、ring international marketThe PK Electrics face some trouble in the China market. The more and more firm enter electrical market make the market saturation and the PK Electrics sales began to decline. Last two years the rate of growth has decrease with sales rising 5% and profits by 2% last year. In
4、the last 10-15 years with the Chinese economy becoming more market-based and China joining the World Trade Organization in December 2001. This reason will help PK Electrics into International market. The PK Electrics will understand the international standard when entry into the international market
5、. The management team understand the global demand and control the enterprise development. If the PK Electrics entry into the international market would have more change.3.0 The information of PK Electrics access before decidingThere are two information sources that company access before deciding.Th
6、e primary sources of information will help PK Electrics know the primary date in the local. Such as the trade delegation. The PK Electrics organize the delegation to target countries and the trade delegation could communication with local government and firm to know what the demand in this country i
7、s. And another primary source is make a exhibition in local. The exhibition could show the PK Electrics products and let local consumers understand the products. On the other hand, the primary sources could help PK Electrics know rival in local.The secondary sources of information could help PK Elec
8、trics to know target country first. This sources not expensiveness and to know a lot of information about target country. The Ministry of Commerce of the Peoples Republic of China could help PK Electrics to offer some information. The information about the world importers and target countrys low. An
9、d the Ministry of Commerce also offer thr PLEST in local country. The PLEST could help PK Electrics know how to entry into target country. The embassies in China offer some information about the country and the embassies information in detail introduce target country. The WTO help PK Electrics to kn
10、ow who wants buy the produce in the world. 4.0 The PK Electrics face some factorsThe PLEST Analysis could help PK Electrics analyses the enterprise external environment and evaluation of these factors on the strategic objectives and strategy development.The political factors is important for PK Elec
11、trics. The PK Electrics entry into the target country must consider the local political situation is stable or not. There are some opportunities and threats in the local market. And the target countrys regimes could affect the trade of PK Electrics.The legal factors would affect the PK Electrics. Th
12、ere are some protectionist policies in target country. Such as the tariffs and non-tariff. The tariffs would protect domestic enterprise and through the taxation to a strict foreign enterprise. And the non-tariff also could affect PK Electrics export. The import quotas will limit the cost and total
13、number. The PK Electrics export was be limited. The local governments issue the import license requirements accept the PK Electrics export.The economic factors include the size and growth of population and the urbanization. If the target country with a large population so the market had a huge marke
14、t potential. It contribute to PK Electrics that increase sales. The urbanization means the potential customer focus in one city and accept degree is high. Therefore, they would help PK Electrics sales in local city.The socio-cultural factors about the language. Because in the target country the lang
15、uage is different. So the PK Electrics has some trouble with local customer to communication.The technological factors. The PK Electrics has advantages and some characteristics in technological. Such as the price is low and have good reputation. This advantage would help PK Electrics built market in
16、 target country.5.0 Screening the target marketStage 1 Collect the information about PK ElectricsStage 2 At this stage the PK Electrics could use the PLEST analysis. Analyses the company external environment.Stage 3 The PK Electrics should make the second analysis to use the Potters five forces.Stag
17、e 4 At this stage the PK Electrics choose a mode about entry into target market.Stage 5 The PK Electrics is marking mix and prepare the market plan.6.0 The model of market entryThere are two international market entry modes available for PK Electrics. Exporting and overseas production.Exporting is t
18、he practice of sending or carrying merchandise to a foreign country for trade or sale. Most small businesses choose to introduce their products or services to foreign markets via a variety of exporting arrangements. But while there are many nuances and options associated with exporting, these variou
19、s practices are commonly divided into two areas: direct exporting and indirect exporting. Direct exporting basically requires businesses to find a foreign buyer for its products and make all arrangements to deliver those goods to the buyer. There are three primary methods of direct exporting, each o
20、f which entails doing business with a different element of the international business world. The simplest option simply to export product line directly to the end-user. There are no intermediaries involved. Another way of direct exporting is using overseas export agent. The agent is hired to facilit
21、ate a sales contract between the exporter and their customer. The PK Electrics should using overseas export agent. The agent can help PK Electrics decrease risk in target market. Buying offices can sets up permanently in foreign countries .Piggyback exporting, meanwhile, is a practice wherein anothe
22、r company armed with an already-established export distribution system sells both its own products and those of other, often smaller enterprises who are not similarly equipped.Overseas productionThis entry mode involves producing goods in the host country, which a business either establishes its own
23、 facility with an off-shore facility operator to manufacture the product in the target market. There are three primary methods of overseas production available for PK company. They are licensing, contract manufacture, joint ventures.Licensing agreements refers to the sale of knowledge, access to tha
24、t knowledge and the ways to exploit it. The licensing includes a variety of contractual arrangements whereby domestic companies make available their intangible assets (patents, trade secrets, know-how, trademarked and company name) to foreign companies in return for royalties and other forms of paym
25、ent.Contract manufacture, basically, a firm in a high-cost country reaches agreement with a low-cost manufacturer to provide it with products as stipulated by the principal. Joint venture entry takes place when an international company shares the ownership of an enterprise in a target country with l
26、ocal private or public interests. Most commonly an international an international company agrees to share capital and other resources with a single local commonly in a common endeavor.7.0 Appropriate market entry Agent Distributor Joint venture Piggybacking Contractmanufacture Cost ModerateLow Low H
27、igh LowCommitmentLow Low High Low LowControlLimitedLimited Moderate Limited LowSpeed ModerateHigh High Slow HighRiskLow Low Moderate Low LowLowAccording to the case study, PK Electrics do not have the experience of international market, and want to seek stable profit. As the table shows above, the m
28、ost suitable mode is agent, agents have knowledge and experience of international market therefore little previous experience is required to PK Electrics. Furthermore, the using of agent has the benefit of little investment required, this is essential factor of lower risk in entering international market. Anther advantage of using agent is low political risk , which can be the key factor for the long-run of business. The speed starting business is high.8.0 Reference http:/en.wikipedia.org/wiki/Marketing.hk/search?client=aff-cs-360chromium&ie=UTF-8&q=marketing
