Once a firm decides to enter a foreign market, the question regarding the best strategy of entry inevitably arises. Generally, firms can use one of six different modes to enter foreign markets: exporting, turnkey projects, licensing, franchising, establishing joint ventures with a host country firm, or setting up a new wholly owned subsidiary in the host country. Each entry strategy has its own advantages and disadvantages, and managers need to consider these pros and cons carefully when deciding which strategy to use.
In this video, I will explain these various entry strategies along with their respective advantages and disadvantages. I will also provide some real-world examples for you.

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