From the course: International Marketing Foundations
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Using joint ventures to expand globally
From the course: International Marketing Foundations
Using joint ventures to expand globally
- The concept of a marriage between two people is often considered analogous to a joint venture in business. Each party brings certain skills, assets, value, and sometimes debt to the relationship. In the context of international marketing expansion, the joint venture structure includes two or more partners who contractually agree to develop a business together. This method of entering a new market gives you more control and input than either exporting or a licensing agreement but also requires a bigger investment in terms of time and, in all likelihood, dollars. This arrangement can work very well in those situations where you have an existing relationship with a person or company in the new geography that you trust, and just as importantly, one with whom you would like to work alongside. These partnerships come at a cost though. To get access to the local expertise and capabilities in a joint venture structure means that…
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