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- 2. SITUATION YOUWANTTO KNOWTHE BESTOPTIONTO ENTER A FOREIGNMARKETWITHYOURNEWPRODUCT,WALL RX.THIS PRODUCTSISA MESS FREEANDANEASY WAY TO REPAIRHOLESIN YOURDRYWALL.
- 3. EXPANSION OPTION: EXPORTING • EXPORTSAREA FUNCTIONOFINTERNATIONALTRADEWHEREBYGOODSPRODUCEDINONECOUNTRY ARESHIPPEDTO ANOTHERCOUNTRYFORFUTURESALEOR TRADE. • I THINKYOU SHOULDDO THISOPTIONBECAUSEYOUPRODUCEDTHISGOODIN A DIFFERENT COUNTRYTHANWHEREYOUARESHIPPINGTHEPRODUCTTO.
- 4. EXPANSION OPTION: FRANCHISING • FRANCHISINGISBASEDON A MARKETINGCONCEPTWHICHCAN BEADOPTEDBY ANORGANIZATIONASA STRATEGYFORBUSINESSEXPANSION. • I DON’TTHINK YOUSHOULD GOWITH THIS OPTIONBECAUSEYOUARENOTFRANCHINGBECAUSEWALL RXISNOTA COMPANYTHATISGOINGTO BE ALLAROUNDTHEWORLD.WALLRXIS GOINGTO BE A PRODUCTTHATWILLBEIN INTERNATIONALPLACES.
- 5. EXPANSION OPTION: LICENSING • LICENSINGISA BUSINESSARRANGEMENTINWHICHONECOMPANYGIVESANOTHERCOMPANY PERMISSIONTOMANUFACTUREITS PRODUCTFORASPECIFIEDPAYMENT. • I DON'TTHINKTHIS IS THE BESTOPTIONBECAUSETHE OTHERCOMPANYISN'TGOINGTO MANUFACTURETHIS PRODUCT,THEYAREJUSTGOINGTO INVESTIN IT ANDUSEIT.
- 6. EXPANSION OPTION: SUBCONTRACTING • SUBCONTRACTINGREFERSTOTHE PRACTICEOFBRINGINGINANOUTSIDECOMPANYORINDIVIDUALTO PERFORMSPECIFICPARTSOFA CONTRACTORPROJECT. • I DON’TTHINK SUBCONTRACTINGISTHE BESTOPTIONTOPICKBECAUSETHEY AREN'TBRINGINGYOUIN TO DO A PRODUCTYOUARESELLINGA PRODUCTTOTHEM, BUTI ALSOTHINKTHAT YOUGUYSARE WORKINGTOGETHERTO GETA PROJECTDONE.
- 7. EXPANSION OPTION: JOINT OWNERSHIP • SITUATIONINWHICHTWO ORMOREPERSONSCO-OWNAPROPERTY • JOINTOWNERSHIPISNOTTHE WAYTO GO BECAUSETHE INVESTORYOUARESELLINGTO ISNOTA CO- OWNEROFTHE BUSINESS.
- 8. EXPANSION OPTION: DIRECT INVESTMENT • REFERSTO AN INVESTMENTINAFOREIGNBUSINESSENTERPRISEDESIGNEDTOACQUIREA CONTROLLING INTERESTINTHIS ENTERPRISE. • I DON’TTHINK THATDIRECTINVESTMENTIS A GOODOPTIONBECAUSE
- 9. BEST OPTION SUGGESTION • I THINK THATEXPORTINGANDSUBCONTRACTINGWOULDBETHEBEST OPTIONSFORYOUBECAUSEYOU ANDTHE OTHER COMPANYWILLBEWORKINGTOGETHERTO BENEFITEACHOTHER.YOU AREPROVIDINGA PRODUCTTHATWILLBEOF BIG INTRESTTO ANOTHERCOMPANYFORCHEAPWALLREPAIRSANDYOU WILLRECIVEA LOTOF MONEY FORIT.YOU WILLALSO BEMAKINGWALLRXIN AMERICAANDSHIPPINGIT TO A FOREIGNCOUNTRY.
- 10. PRODUCT ADAPTATION VS. STRAIGHT EXPANSION • PRODUCTADAPTATIONISTHEPROCESSOFMODIFYINGANEXISTING PRODUCT,SOITISSUITABLEFOR DIFFERENTCUSTOMERSORMARKETS • A STRAIGHTPRODUCTEXTENSIONIS PRESENTINGYOURPRODUCTTOA GLOBALMARKETPLACE WITHOUTANYCHANGES. • I THINK THAT YOUSHOULDGO WITH A STRAIGHTEXPANSIONBECAUSEYOUWILLBE PRESENTINGYOUR PRODUCTTO OTHERCOUNTRIESSO THATMEANSITWILL BEA GLOBALPRODUCT.