Entering Wall Rx into foreign markets

1. Wall Rx
Foreign markets

2. Exporting
• Exporting is sending your goods to another country for sale.
• Exporting is not the best option for you when entering into a foreign
market. Exporting doesn't give you access to local partners,
marketing information, or distribution channels. It also doesn't give
you protection from various legal barriers.

3. Franchising
• A franchise is a contractual agreement in which the retailer agrees to
meet the operating requirements of a manufacturer or other
franchiser. When you enter into a franchise the franchisee receives
the right to sell the product and use the franchisers name.
• Franchising isn’t the best option for you because you have to find a
balance between standard practices with the local customer
preferences. Also franchise agreements usually include restrictions on
how you are able to run the business.

4. Licensing
• Licensing is an agreement that grants foreign marketers the right to
distribute a firms merchandise or to use its trademark, patent, or
process in specified geographic area.
• Licensing is the best option for you, it offers access to local partners,
marketing information, and distribution channels. It also gives you
protection form various legal barriers. It also doesn't require capital
outlays.
• Since Wall Rx is a popular product, it will allow you to quickly enter a
foreign market.

5. Subcontracting
• Subcontracting is a contractual agreement that assigns the production
of goods or services to local or smaller firms.
• Subcontracting isn’t the best option for you because local suppliers
may not make the grade of your product. Also a manufacture could
imposes an unrealistic tight timeframe on a supplier to deliver the
product, leading to long hours or sweatshop conditions in the factory.

6. Joint Ownership
• Joint Ownership is when the ownership of the company is shared by
multiple owners.
• Joint ownership isn’t the best option for you because there is a
chance that everyone that has ownership of the company doesn't
have the same goal or vision on where the product should go.
• When having joint ownership you may have to cope with people of
different cultures and management styles.

7. Direct investment
• Direct investment is when you invest in a product or company and
have some control over the company.
• Direct investment isn’t the best option for you because it involves
high levels of involvement and high risk potential.
• Some of the high risks include political changes, the economy
changing, and higher costs.

8. Straight Extension
• Straight extension is releasing a existing product into a foreign
market, without making any changes to the product.
• This is the best option for you when entering in a foreign market
because the Wall Rx is a universal product. The product fixes a hole in
the wall, which is a problem everyone has everywhere in the world.
There is no need to change the product to fit foreign markets,
because it already fits into foreign markets.

9. Product Adaption
• Product adaption is the process of modifying an existing product to
make it suitable to customers in foreign markets.
• This is not necessary for the Wall Rx. Wall Rx solves the problem of
not knowing how to fix a hole in your wall, which is a problem that
people have all around the world.

10. Conclusion
• When entering Wall Rx into a foreign market, you should engage in
licensing to get access to local partners, marketing information and
distribution channels in the foreign market.
• Wall Rx is a popular product and engaging in licensing will allow you
to quickly enter into foreign markets.
• When engaging in foreign markets you should use the product
strategy of a straight extension because it is a universal product.