MGAssignment Details - Assignment 6 Details Description: Evaluate the competitive strategies for firms in foreign markets: a. Niche market exporting b. Licensing and contract manufacturing c....

Competitive Strategies
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Competitive Strategies
Competitive Strategies
For a business to be considered to be successful within the industry that it is located in, the company has to be competitor oriented. This means that the business has to select the appropriate competitive strategy. Thus avoiding the strengths that the competitors may exhibit to focus on their weak points before first launching a marketing attack on those weak points. Firms in foreign markets make use of different competitive strategies which aids in ensuring that they obtain a stronger base in the business against their competitors in the industry (BUSINESS POLICY & STRATEGY Conference Paper Abstracts, 2010).
Niche market exporting
Niche market exporting is a competitive strategy which requires a marketer or a potential business person to have knowledge regarding the target market will in turn make it easy for the business to determine where they market their energy and spend their money on. Niche market exporting is a competitive strategy which requires a market to focus on exporting its commodities to an identified target market. This requires a foreign market to focus on a specified market segment with an aim of achieving cost leadership or differentiation within the specified market segment. Focusing within an identified market segment contributes toward the development of a marketer within that segment. This contributes to the development of competitive strengths which competitors find hard to copy or expensive and difficult to copy (BUSINESS POLICY AND STRATEGY Conference Paper Abstracts, 2003).
.Licensing and contract manufacturing
This is a strategy used to enter foreign markets which in turn contributes...