International Marketing: Vintage Wines - Essay Example

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International Marketing: Vintage Wines

According to the literature available related to international market entry methods, “exporting, licensing/franchising, joint ventures/strategic alliances, and full ownership/direct entry” (Armstrong, Harker, Kotler, & Brennan, pp. 52-58, 2009). are the four broadly defined market entry methods. Furthermore, the factors, which influence the market entry methods, are the speed of entry, level of involvement and control, level of risk, investment, and market costs and level of return (Armstrong, Harker, Kotler, & Brennan, pp. 52-58, 2009). Each of the market entry method has its own pros and cons and none of them is the best for every firm and every situation. Each firm would look into its resources, market, situation, and other variables to find out the “best fit” (Czinkota & Ronkainen, pp. 74-78, 2007). Considering the case of Vintage Wines and its entry into the United States, it appears that the option Joint ventures and strategic alliance would be the best option for Vintage Wines to enter into the United States market. This option lies between the two extremes of exporting and full acquisition (Cateora, Cateora, Gilly, Gilly & Graham, pp. 320-325, 2010). The former option minimizes the risk and investment costs but at the same time, it gives minimal control, returns, and is not a long-term option. Moreover, the later option has the potential of high and long-term returns with more control and involvement in the business but at the same time it increases the risk, time required for entry, investment, and market costs (Cant, Strydom & Jooste, pp. 104-105, 2009). ...Show more

Summary

This paper “International Marketing: Vintage Wines” is an attempt to explore the various aspects of expansion of Vintage Wines into the US market. It will be done by looking at the possible market entry markets, best-fit marketing mix, importance of logistics and organizational controls…
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