Running Head: EVALUATION OF DIFFERENT MARKETING APPROACHES DURING

FOREIGN MARKET ENTRY

Evaluation of Different Marketing Approaches

during Foreign Market Entry

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EVALUATION OF DIFFERENT MARKETING APPROACHES DURING FOREIGN
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Abstract

Different methods of marketing are the tactics employed in the worldwide market by
various organisations to manage the organising company. Movement of operational
management and information technology, revenue and talent between enterprises and locales.
It also covers the transit and handling of raw materials. The related articles provide a full
understanding of the appropriate criteria for evaluation during foreign market entry of
different marketing techniques and include strong market growth and business practises in
literature and secondary sources follow-up investigations.Moreover, there has been extensive
research on marketing approaches used by multinational corporations, theoretical
understanding that SMEs use and comply with MNC's business and marketing systems, the
importance of international business growth and the various marketing approaches used by
organisations during international business operations. Thus, research placed a high emphasis
on the increase of knowledge of successful marketing techniques to improve their brand
awareness and produce an overall impact as a global reference for the world's industries.
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Table of Contents
Chapter 1: Introduction..............................................................................................................5

1.1 Background of the Research............................................................................................5

1.2 Problem Statement...........................................................................................................5

1.3 Research Aims and Objectives.........................................................................................5

1.3.1 Aims of the Research................................................................................................5

1.3.2 Objectives of the Research........................................................................................6

1.4 Research Questions..........................................................................................................6

1.5 Research Significance......................................................................................................6

1.6 Research Rationale...........................................................................................................6

1.7 Research Structure...........................................................................................................7

Chapter 2: Literature Review.....................................................................................................8

2.1 Chapter Overview............................................................................................................8

2.2 Importance of Entering a New Foreign Market...............................................................8

2.3 Identification of Different Marketing Approaches for Entering a New International

Market....................................................................................................................................9

2.4 Evaluation of Prominent Marketing Approaches Utilised by MNCs during their

Business................................................................................................................................11

2.5 Recommendations of Some Effective Marketing Approaches to the SMEs for their
Foreign Market Entry...........................................................................................................13

2.6 Literature Gap................................................................................................................14

2.7 Summary........................................................................................................................15

Chapter 3: Methodology..........................................................................................................16

3.1 Chapter Overview..........................................................................................................16

3.2 Research Philosophy......................................................................................................16

3.3 Research Approach........................................................................................................16

3.4 Research Design.............................................................................................................17

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3.5 Research Sampling.........................................................................................................17

3.6 Data Collection Process.................................................................................................17

3.7 Data Analysis Process....................................................................................................18

3.8 Ethical Consideration.....................................................................................................18

Chapter 4: Findings..................................................................................................................20

4.1 Secondary Qualitative Data............................................................................................20

4.1.1 Increment of Foreign Market Entry by Different Businesses.................................20

4.1.2 Enhancement of the Utilisation of Different Marketing Approaches by MNCs....22

4.1.3 Extensive Rate of Using Foreign Market Entry Strategy by the SMEs..................24

Chapter 5: Discussion..............................................................................................................27

5.1 Analysis..........................................................................................................................27

5.2 Summary........................................................................................................................29

Chapter 6: Conclusion and Recommendation..........................................................................30

6.1 Conclusion......................................................................................................................30

6.2 Recommendations..........................................................................................................30

6.3 Future Scope...................................................................................................................31

References................................................................................................................................32
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Chapter 1: Introduction

1.1 Background of the Research

The development of an appropriate plan until accessing the new marketplace is one of
the key issues facing a businessman. The leadership and the management team of the
organisations are going to concur that for numerous purposes it's extremely essential.
Determine the finest marketing plan until launching a start-up or business development.
Study of competition data, target market population behaviour, online market development,
and, eventually, appropriate data release. Market analysis, knowledge of how to join a new
market abroad and how to create a competitive assessment that takes into consideration of
clients' company experiences can help the start-up and existing firm (Paul, 2019).To develop
such an approach, it is important to identify the objectives of the company: what it wants and
how it is accepted. The organisation's target audience must also identify what sales promotion
approaches may be important when selecting promotional activities. Client’s comprehension
will enable them to build a single sales proposal and may interact as effectively as feasible
with prospective consumers.

1.2 Problem Statement

However, during taking numerous initiatives for conducting efficient market research
in order to enter a new foreign market, some organisations face few challenges like language
issues, cultural issues, etc. Moreover, during this outbreak of the COVID-19 pandemic, the
organisations become more unable to conduct effective research to evaluate and identify
prime aspects of the foreign market to check the suitability for their organisational business
operation (Watson IV et al., 2018). Therefore, the organisations need to implement and
utilise some effective approaches to prominently implement the marketing approaches within
their organisational culture in order to potentially enter the foreign market.

1.3 Research Aims and Objectives

1.3.1 Aims of the Research

Fundamentally, this study of the research aims to efficiently evaluate different
marketing approaches during the foreign market entry for every business. Furthermore, this
research study will provide and demonstrate prominent knowledge regarding how the MNCs
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utilise different effective strategies for entering a foreign market and the SMEs need to follow
them to get success during entering a new market.

1.3.2 Objectives of the Research

 To analyse the importance and necessity of entering a new foreign market.
 To identify different marketing approaches for entering a new international
market.
 To evaluate prominent marketing approaches utilised by MNCs during their
business.
 To recommend some effective marketing approaches to the SMEs for their foreign
market entry.

1.4 Research Questions

Q1 What is the significance and necessity of entering a new foreign market?
Q2 What are the different marketing approaches for entering a new international
market?
Q3 How do MNCs utilise different effective marketing approaches to enter an
international market during their business?
Q4 What strategies need to be utilised by the SMEs during their business?

1.5 Research Significance

Generally, this study of the research will significantly evaluate and discuss some
prominent and potential aspects regarding the study topic, “Evaluation of Different Marketing
Approaches during Foreign Market Entry”. What strategies are utilised by the MNCs and
what approaches need to be used by the SMEs for entering a new foreign market will be
briefly discussed in this research (Martin, 2021). Through this, the study will provide
significant knowledge to the future learners of this research.

1.6 Research Rationale

There are no available researches regarding this particular topic, which demonstrate
and provide significant and effective knowledge regarding this particular topic. Therefore,
this research study has been taken into consideration by the researcher in order to provide and
influence the learners with some new concepts and significant knowledge (Song et al., 2018).
This will rationally help the organisations to grab more potential knowledge during their
practical doing of business in a different market.
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1.7 Research Structure
A comprehensive analysis is provided in the research in order to evaluate the impact of
social media platforms on consumers' purchasing choices and buying habits. A suitable
organisation of each step is required for the development procedure. A proper and genuine
research result is essential for an acceptable portrayal and assessment of the subjects.

 The first chapter is an introduction, which provides a short preparation of the

study aims objective, importance and reasoning.
 The second chapter is the literature review, which normalises and connects
different information that has already been established through numerous
academics.This will provide a brief knowledge about the study topic.
 On the other hand, the third chapter is a methodology that describes the
procedures and strategies utilised to generate the results of the research. This
chapter describes the data gathering methods.
 The fourth chapter consists of research findings that detail the data gathered from
the methodology section and streamline it so as to generate a legitimate and
meaningful conclusion.
 The fifth chapter is a discussion. This section provides a detailed analysis of the
data collected from the results. This section describes and evaluates the
information collected.
 And the last chapter is the conclusion, where the whole research is summarised
and properly finished.
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Chapter 2: Literature Review

2.1 Chapter Overview

The literature review section has been considered to effectively gather a vast amount
of knowledge from the external secondary sources regarding the study topic "evaluation of
different marketing approaches during foreign market entry". In this aspect, in order to
demonstrate prominent knowledge, the researcher will provide information about the
importance of entering a new foreign market for businesses. Moreover, the researcher will
identify different marketing approaches for entering a new international market and evaluate
prominent marketing approaches utilised by the MNCs during their business operation in the
international market (Paul, 2019). Through this, the study will be able to recommend some
effective and efficient marketing approaches to the SMEs for their foreign market entry. In
this way, the research study will provide significant knowledge; however, due to some
hindrances and hazardous circumstances, the researcher has been unable to cover all the
aspects regarding the study topic. Therefore, a section of the literature gap will be provided to
demonstrate the lacking of this study.

2.2 Importance of Entering a New Foreign Market

According to the statement of Tan & Sousa(2019), organisations of various sizes
operating in international markets in today's global economy. This sort of development may
offer numerous benefits, including an increasingly growing market and diversifying options.
Westerners are also anticipated to remain their tendency globally. "Wells Fargo's 2016 Poll"
revealed that 87% of US companies feel overseas development is needed for long-term
success. But, notwithstanding the increasing amount of US organisations developing
internationally, many companies still have not made the leap outside. As per the statement of
Vissak,Francioni& Freeman(2020), 96% of global customers live outside of the US,
according to the "U.S. Small Business Administration". Global growth provides many firms
with an opportunity to acquire new regions and to access more customers, thereby boosting
revenue. In the Netherlands, for instance, US businesses like Nike and IBM operate, offering
legitimate accessibility to 170 million European consumers in just 300 miles.

Indeed, the connectivity between Holland and the European markets is one reason that
UPS has just constructed a new 150 million dollars facility in Eindhoven, one of the biggest
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investments in Europe. Based on the statement of Rosenbaum(2017), many companies are
expanding to diversify their resources globally, a move that can safeguard a firm from
impending disasters. For example, in one market firms functioning effectively in another,
with worldwide activities might counterbalance the downward trend. Organisations can also
use foreign markets to develop single products and services so that a continuous stream of
income is maintained. Coca-Cola is an instance of a corporation diversifying globally. In this
quarter, Coca-Cola has boosted its sales internationally in China, India and South Korea. As
stated by Gorostidi-Martinez & Zhao(2017), the chance to have accessibility to fresh talented
employees is another major advantage of being international. Foreign labour may throughout
many circumstances give organisations distinct benefits with regard to enhanced
production, advanced speaking skills, numerous academic experiences, and more.

For instance, Netflix's expansion to Amsterdam at the start of this year commended
Netflix for allowing bilingual staff who can 'understand' customers and cultures on every
territory in Europe proficiently. Thakur‐Wernz&Samant(2019) stated that businesses often
select for worldwide growth to take their competitor's competitive advantage. For instance,
companies that are expanding in areas wherein the opponents are not typically operating have
a benefit as the first movement, enabling them to establish high customer brand recognition
until their competition (Rexhepiet al., 2017). International growth may also enable businesses
to obtain access and enhance their processes to new technology and industrial environments.
The worldwide activities might assist create awareness of brands to promote potential
business situations, such as contractual terms, new advertising campaigns or even further
growth. Global companies can also enhance the organisational brand image. According to the
viewpoint of Ahiet al.(2017), multinational corporations may also advantage from attractive
investment possibilities in their own nation that may not exist. Many governments throughout
the world, for instance, provide advantages to firms who want to invest in their area. So,
before making an overseas growth choice U.S. companies should constantly perform the
study.

2.3 Identification of Different Marketing Approaches for Entering a New

International Market
As per the viewpoint of Andersson, Evers &Gliga(2018),costs are the obvious
problem. A large-scale market entry will demand considerable expenditures. While in a new
market it may more likely create an effect since it will bring consumers and local enterprises
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alike, if a firm does not take off, it could be economically hazardous. Smaller-scale
enterprises can provide company owners with the opportunity to learn regarding the new
industry and reduce risks, but organisations will get far less awareness.

Exporting

Based on the viewpoint of Watson IV et al.(2018), exports shall be the direct selling
in another nation of commodities and/or services. It is perhaps the better-remembered
approach and the least harmful for entering an international market. It can also be economical
because businesses don't have to spend in their selected nation's manufacturing facility – all
the items are still made around their own nation and then sent to international markets for
sale. In the foreseeable term, nevertheless, growing transit costs will certainly raise export
expenses. As opine by Dominguez &Mayrhofer(2017), the preponderance of exporting
expenses are attributable to marketing charges. Normally, the companies require four parties
involved: their company, an importer, a carrier and the government in the nation to which, the
organisations want to export.

Licencing

Paul & Rosado-Serrano(2019) opined that the licencing is rather comparable to

piggybacking, notwithstanding that they communicate to foreign enterprises and urge them to
carry the product, and also ask them to own the product momentarily. Furthermore, licencing
permits another firm to exploit the IP in the target nation. The asset concerned is usually
intellectual - for instance, trademarks, and processes of manufacturing or patents. To be
authorised to utilise the property, the licensee should pay a fee (Ratten and Tajeddini, 2017).
Licensing takes relatively little commitment and can generate significant financial returns.
The licensee will also pay for all expenditures in the foreign market for production and
marketing.

Franchising

According to the statement of Gardiner & Scott(2018), in that rights to intellectual

property are transferred to a franchisor, franchising is rather comparable to a licence.
Nevertheless, the regulations governing the execution of business activities by the franchisee
are generally quite rigorous any procedures, or certain elements, for instance, should be
maintained in the procedure.
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Joint Venture

According to the viewpoint of Donner, Gohier& de Vries(2020), two firms that create
joint ventures and within this one of the owners is a local company. The two firms would
then supply a management team to the new business in exchange for the administration of the
partnership. This sort of undertaking has numerous advantages. It enables businesses to take
advantage of local international market expertise and helps the organisations to share
expenses. There are, nevertheless, certain complications; it is difficult to decide who spends
what and how earnings may be divided.

Foreign Direct Investment

As per the statement of Rezaei&Ortt(2018), FDI is when companies make

investments explicitly in foreign market capabilities. FDI is expenditure and to pay the
expense of buildings, technologies and employees, takes a lot of cash. Either a new
organisation can be established or an established firm can be acquired.

Wholly Owned Subsidiary

As per the viewpoint of Gulanowski,Papadopoulos &Plante(2018), a "wholly-owned

subsidiary" (WOS) resembles the "foreign direct investment" in a foreign firm, except the
foreign business is purchased straight from a WOS in place of the investment in another
company. It's up to the owners to keep running like in the past or to take over the WOS more
effectively.

Piggybacking

Based on the statement of Gerasimov,Vasyaycheva&Gerasimov(2018), piggybacking

covers the cross-selling of products or services of other non-competitive firms in their
countries of origin. Although it is a low-risk technique requiring minimal cash, this method
may not be convenient to certain firms since it requires a high level of confidence and also
allows the partner company to exercise considerable management about how the goods are
promoted outside Canada.
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2.4 Evaluation of Prominent Marketing Approaches Utilised by MNCs during
their Business
Based on the viewpoint of Dinçeret al.(2019), around 55 CMNs covering industries
that have successfully achieved in one or more developing markets, as different as a
customer, commercial, telecommunication and health care. In most instances, they are
between the top five businesses in the industry worldwide and in a particular growing market
or area. Some important dimensions that differentiate between winning MNCs are found
here:

Smart Market Entry and Expansion

As stated by Wei, Ang&Liou(2020),MNC leaders are characterised by a versatile

strategy for the establishment and expansion of enterprises in developing economies. Such
firms may choose joint ventures, franchisees, acquisitions and mergers or fresh engagement
in completely owned businesses, based on their location and conditions. In order to develop a
big presence in India, Schneider Electric employed a combination of entrance and growth
tactics. In 1992, it established a joint undertaking to produce circuit breakers and in 1995
created a wholly-owned subsidiary (Vadalkaret al., 2021). In order to develop its energy
management and automation systems business, Schneider has employed a range of
combinations and acquisitions since 1999.

Innovative Products and Pricing

As opined by Bereznoy(2017), on entry into a new emerging market a firm should

provide the items it needs to offer at the pricing that buyers can pay suitable for local people
and the surrounding ecosystem. Many of the most successful MNC offers their current
businesses, goods and services tailored to customers' requirements and interests. Many
discovered inventive methods to address infrastructural problems, such as inadequate access
to power and excellent roads, which are prevalent in emerging nations.

Intimate Understanding of Consumers and Meet their Needs

Palazzo, Vollero&Siano(2020) stated that intelligent marketing may also enable an

MNC to turn a tough market around. For instance, Gillette was first quite successful in India.
However, after introducing Gillette Guard, an Indian-style razor that is considerably easier to
clean and much less costly than standard goods of the firm, it captured 70% of the nation's
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razor market. Gillette also de-emphasized complicated digital marketing efforts and changed
into more conventional Bollywood star TV and cinema commercials, preferred by Indian
customers.

Fast and Widespread Delivery of Goods

Lee & Griffith(2019) opined that for instance, Coca-Cola was essential in its
performance in the supply chain management. Eight of Mexico's manufacturing firms offer
Coca-Cola goods in rural regions, where they have a dominant position in the soft-drink
industry. In Africa, on the other hand, the firm has established modest loans, coaching and
marketing centres to help it in order to provide access to tough regions.

Strong Stakeholder Engagement

Kalogiannidis,Melfou&Papaevangelou(2020) stated that a more complicated,

demanding and ruthlessly highly competitive corporate climate gains difficulty for the
international business environment. However, the achievements of several MNCs
demonstrate that developing economies continue to provide firms that implement the proper
business strategies an abundance of development possibilities. The equation for success
varies between markets and sectors and frequently has to be changed to a fast-changing
landscape (Abdelhalim&Eldin, 2019). Businesses must be adaptable to thrive in new markets,
be fully aware of local possibilities and circumstances, and be willing to aggressively
innovate.

2.5 Recommendations of Some Effective Marketing Approaches to the SMEs for

their Foreign Market Entry
Clarification regarding What is Driven Globally and What is Managed Locally

As stated by Qi et al. (2020), the disappearance of national, market-specific goals and

efforts does not indicate a worldwide marketing strategy. In reality, these need to be
additional. The structure and parameters under which national marketing functions will
normally be defined in international marketing and free local success levers controlled by in-
market teams. In particular, branding and advertising standards, strategic marketing budget
development, broad marketing actions, social communication strategy and standards, analysis
technique and worldwide relations with the marketing sector are some of the sectors which
make SMEs global and essential.
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Understanding the Requirements of Local Market and Development of
Collaborative Approach

Based on the statement of Silva, Moutinho& Vale(2021), too frequently, the

worldwide operation is regarded as a justification for avoiding time investing knowing the
culture, customer demands, comportments and marketing techniques that are less effective.
Although it is clear that a US consumer is important to differentiate greatly from an Indian or
South-East Asian consumer. Their lifestyles, beliefs and requirements are unique, therefore it
makes sense for them to communicate individually with the goods or services supplied by
small and medium-sized companies (Zahooret al., 2020). Globally defined objectives and
strategies must be made to address cultural variations with a degree of flexibility.

Development and Socialisation of an International Marketing Plan

As per the statement of Lin &Ho(2019), the SMEs have to build important contacts,
study local markets, and designed global marketing strategies which they accommodate local
demands when necessary. That is a wonderful start, however, do not waiting for the
promotion to begin to confirm the SMEs assertions. Socialize those ideas with the foreign
groups as soon as feasible and look for input and assure that the plans do not function in some
markets with legal problems (Wilson &Makau, 2018). In the case of a crisis, a proactive
strategy will allow SMEs time to modify and revisit their plans. It will also enable local co-
workers to buy in.

Over Communication

According to the statement of Jin&Hurd(2018), efficient communication, not only in

conducting campaigns, is vital at all times. The SMEs obviously have to work with
colleagues all over the world to play an international marketing function, most of who are
hundreds of kilometres distant from them. It is understandable to feel detached in these
conditions and the approach, plans and actions, whether they are unconnected (Mata et al.,
2021). The connection that is built by the SMEs within the market personnel is a crucial
factor that contributes to international marketing. The development and maintenance of these
connections depend on an open way to communicate.
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2.6 Literature Gap
Generally, the entire study of the literature review section has covered almost all the
relevant aspects regarding the study topic of the evaluation of different marketing approaches
during foreign market entry. The importance of foreign market entry, different approaches for
entering a foreign market, different marketing approaches utilised by the MNCs and some
recommendations for the SMEs regarding the utilisation of different marketing approaches
for entering a foreign market have been briefly analysed. However, what kinds of threats can
be faced by the companies who are newly trying to expand their business in the international
market have not been demonstrated in this study. Therefore, a gap has been created during
the conduction of the entire study by the researcher.

2.7 Summary
In this way, it becomes evaluated that the researcher has been able to demonstrate and
provide significant and evident knowledge regarding the study topic, “Evaluation of Different
Marketing Approaches during Foreign Market Entry”. In this way, the future learners and the
researchers also will be able to study prominent research for describing more critical and
evident information regarding the marketing approaches for entering a foreign market.
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Chapter 3: Methodology

3.1 Chapter Overview

During the conduction of the entire study of the research, the researcher has utilised
different kinds of methods in order to effectively accomplish the entire research study
regarding the evaluation of different marketing approaches during foreign market entry. In
this aspect, the researcher has utilised an effective philosophy and prominent approach for
efficiently conducting the research (Chivanga&Monyai, 2021). Moreover, on the other hand,
the researcher also has chosen an appropriate research design and research sampling method
to structure the research. Furthermore, during the conduction of this entire research study, the
researcher has considered all the viable and reliable sources and even those sources, which
have copyrights to maintain the research ethics.

3.2 Research Philosophy

Throughout the conduction of the entire research study, it becomes evaluated that the
researcher has found four fundamental research philosophies like positivism, interpretivism,
realism and pragmatism. Among these philosophical approaches, the researcher has selected
interpretivism philosophy in order to conduct this qualitative research. Generally, the
interpretivism philosophy prominently helps to efficiently interpret all the collected data that
has been gathered from the secondary external sources during the conduction of the entire
research study. Moreover, the interpretivism philosophy also significantly helps to potentially
evaluate all the key information regarding the study topic (Levitt, 2021). Through this, the
researcher has been able to successfully conduct and accomplish the entire study of the
research to provide evident information about the evaluation of different kinds of marketing
approaches or strategies that needs to be utilised during entering an international market.

3.3 Research Approach

There are three predominant research approaches that help the researchers in different
ways to conduct and accomplish their researches. By utilising the inductive approach, the
researchers can gather data and then render a theory for conducting the research. On the other
hand, the deductive approach helps the researcher firstly to collect data, then it observes the
data and makes a hypothesis according to the study. And then this approach helps the
researcher to select appropriate knowledge and information for interpreting them in the study
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(Mthuli, Ruffin & Singh, 2021). Throughout this discussion, it becomes evaluated that the
utilisation of the deductive research approach is generally best to conduct qualitative
research. Therefore, the researcher has selected the deductive approach for the research. This
prominently helped the researcher in order to collect the most appropriate and relevant
knowledge for the successful accomplishment of the study.

3.4 Research Design

The design of the research is clearly seen in a number of different approaches. The
research was conducted in a new way. The methodology was utilised in numerous situations
to bring together theoretical concepts and environmental work using relevant and practical
research techniques. The substance of the thesis, therefore, pertains to the information
resources, the technique of data assessment and the moral issue that is often taken into
consideration to obtain meaningful results for research purposes (Stoyanovet al.,2021). The
secondary research design was pursued by this specific research methodology. Secondary
qualitative research links the rationale to the consequence of a condition.

3.5 Research Sampling

A group of individuals, things or objects is selected across a wider database for
measuring a study sampling. It ought to be representative of the existing researches, so as to
assure that the results of the study sample are extrapolated for the whole existing researches.
The research is generally a comprehensive examination to use important influences and to
investigate or determine the causes (Jackson, Mohr&Kindahl,2021). The research also
includes knowledge from a variety of topics, papers, PDF, periodicals, etc. Consequently, the
research qualifications should be assessed and examined so that mistakes in carrying out the
investigations may be avoided.

3.6 Data Collection Process

In particular, quality material is gathered through a range of places including
academic books, published papers, columns, publications and PDFs. The qualitative data
collection procedure consisted of research findings from many information retrievals, which
allowed the study to be more powerful. The data acquired from related documents, e-books
and PDFs have been supported in the context of the investigation. Real data and data from an
acceptable current source allowed researchers more practical and sensitive (Smitet al., 2021).
The created information was more reliable and worthy, and the result of this research was
genuinely characterised.In this specific research, the qualitative approach was employed to
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acquire evidence and knowledge. The investigation is generally focused on depth perception
of assumptions or resources acquired from quality sources and non-numerical findings.
Fundamentally, the journal articles, and some books and PDFs have been accessed to collect
effective information. Within this, due to collecting appropriate literature study or journal
articles and books and PDFs, the researcher has utilised the key words of the topic to search
successfully.

3.7 Data Analysis Process

The analysis of the data and the information are crucial in the study to show
correctness in the dissertation. The dissertation consisted largely of descriptive data obtained
usually from several PDF resources. The data analysis process aims to explain information
from many sources presently obtained.  The predictive analytics approach additionally
enables to organise knowledge and documents from many resources and to organise guidance
to complete the study aim. Qualitative research was carried out by means of content
analysis, which was used to collect the required information and data (Bounckenet al.,
2021).Contents analysis is a research approach utilised to assess and code textual content for
prolific and precise results.Moreover, through efficiently analysing the entire data, the
researcher has been able to provide effective and most relevant and appropriate and sufficient
knowledge regarding the study topic, the evaluation of different marketing approaches during
foreign market entry.

3.8 Ethical Consideration

In order to achieve a clear result in the analysis, professionals should adhere to the
code standards. Information on modified tactics for entry into a new market has been
collected and essential emphasis has been placed on data privacy and compliance with the
ethics requirements. The important element in the research method was to assure acceptable
conduct of the activities. The task consists of several actions, each in accordance with the
legal requirements. Three essential needs exist for research activity (Church & Quilter, 2021).
Complete permission, confidentiality and affirmation are included.The job has been
thoroughly performed in order to protect the outcomes and ensure anonymity. The focus was
on compiling authorised and updated data, and the chosen qualitative analysis confirmed the
necessary confidentiality.

It is illegal to abuse or other violation of information security in accordance with the

ethical code of research. It is presumed that the data collected and analysed in the study are
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completely authentic and without any risk of misuse. Another important feature is the cloud
computing process.Information storage confidentiality and reliability were the focus of the
effort (Chivanga&Monyai, 2021). The data retention capability was written fully utilising
technology to assure unlawful and unlicensed persons cannot access the data. Furthermore,
the study relied fully on answers and methods that preserve the researcher's ethical and
professional requirements.
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Chapter 4: Findings

4.1Secondary Qualitative Data

4.1.1 Increment of Foreign Market Entry by Different Businesses

The Chinese economy has shown itself to be strong throughout the year and increased
foreign direct investment by 18.7%, up 12.3 billion dollars throughout 2019. For the full year,
foreign direct investment (FDI) in China topped that in 2019, rising 2.6 per cent from January
to August of this year, to 619.78 billion Yuan (US$ 90.69 billion) (Chi et al., 2019).In the
initial periods of every year owing to Christmas and Chinese New Year's vacations, FDI is
following yearly cyclical tendencies and investments have typically declined for the same
causes throughout the summer months. This was not the case this year, with the nation being
locked down and borders blocked month by month after the terrible start of the year. The
most significant rise of expenditure in the high technology services sector in the first eight
months of 2020 was 28.2%, while the service sector was next with a 12.1% increase over the
preceding year (Karlsson& Saarinen, 2018).

In view of the expansion in this field, Beijing has already declared the introduction in
China, through simplifying cross-border economic activities and substantially liberalising
foreign investments in the telecommunications industry, of mechanisms that would stimulate
investment interest in China in particular.The announcement of increasing FRI investment in
China comes with an overwhelming 800 billion Yuan (US$117 billion) amount of contracts
among Chinese and international businesses being held by the country's new "International
Investment & Trade Fair" (IITF) and "Belt & Road Investment Congress" (BRIC). In Beijing,
for instance, 73.6% more in the FDI in Holland, 17.2% more from the UK and a continuous
conflict with the United States has been expanding its economic connections with the rest of
the globe (Kalogiannidis&Mavratzas, 2020).Many of the 2500 Chinese SOE projects
undertaken worldwide are now being carried out under the Belt & Road Initiative and are
providing new financial possibilities for its stakeholders and prospective entrepreneurs
simultaneously.
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Figure 1: China’s Foreign Direct Investment September 2019 to August 2020

(Source: Kalogiannidis&Mavratzas, 2020)

USA's franchisees are set to rise again in 2020 when the US economy is boosted and
reinforced through a robust customer. However, the development of franchise companies has
been falling to the slowest pace over the last four years, confronting an electoral year and a
historically tight employment market. "Franchise Business Economic Outlook of the
International Franchise Association" (FBEOIFA) estimates in 2020 the number of franchised
companies in the United States is projected to rise by 1.5% to a total of 785,316. This is the
10th year in a row of increases (Oladimeji, Abosede&Eze, 2018).The anticipated rise in
franchisees across the country is 1.5%, the slower rate since 2016. However, the franchising
business is forecast to increase its GDP contribution by about 4.6% to over 495 billion
dollars.
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Figure 2: Growth in Number of Franchise Establishments by Businesses

(Source: Oladimeji, Abosede&Eze, 2018)

The most advanced companies are "personal services", including "health and fitness",
"childcare services" and "beauty services", up 4.7%, and restaurants with fast and full-service
services, which both rose by more than 1% in the last few years as a result of the increase in
disposable income. However, it is a problem for the franchising industry to attract and retain
people onboard in this labour market, while low-wage workers earn more funds. More firms
provide greater pay and perks for employees, the organisation said. The trend is projected to
persist Job-hopping is a trend emerging when people are looking for higher earnings (Ranaet
al., 2020).For franchisees and companies that are attempting to encourage franchisees'
growth, it is continuously one of the major questions. In addition, the franchisees usually
offer entry-level possibilities, and in recent years we have witnessed the biggest increment in
salary growth. It is excellent; however, it also implies that franchisees are fiercely striving to
maintain labour.

4.1.2 Enhancement of the Utilisation of Different Marketing Approaches by MNCs

The worldwide e-Retail sales in 2019 exceed 3.5 Billion US dollars, making online
shopping one of the most popular online activities throughout the world. The digital
revolution of the Asian Pacific area makes it no wonder that India, trailed behind Spain and
China, is one of the fastest expanding online retail markets (Coppola, 2021). Digital retail
development in these countries is closely connected to the constant improvement of online
access, in the mobile-first communities, which have struggled a lot because of financial or
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infrastructural constraints with the traditional fixed broadband connections, but which benefit
from the advantages of cheap mobile broadband links.

The overall internet shopping order value of mobile and tablet computers is still
behind conventional online purchases through the computer, although worldwide e-
commerce sales have risen. Mobile smartphone shopping in Asia is very prevalent. Indonesia
was the top digital market since the third trimester of 2018 based on the number of people
who had purchased anything during the last month through phone, with more than three-
quarters of the population. The top rankings were finished in China, Thailand, South Korea
and Vietnam.Retail sales of US$4.28 trillion globally in 2020 have been increased, while e-
retail sales are forecast to increase to US$5.4 trillion in 2022 (Chevalier, 2021).

Figure 3: Retail e-commerce sales worldwide from 2014 to 2024

(Source: Chevalier, 2021)

International sales of $4,891 trillion globally in e-commerce in 2021 are projected. In

the next several years, this figure will remain to increase showing that e-commerce becomes
a viable alternative for companies. In addition, 19.5% of worldwide retail sales are
anticipated to originate from internet sales in 2021 (Ferraris et al., 2019). This means that
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MARKET ENTRY
over one-fifth of all 1 $ spent on commercial products is invested online this year. It is
predicted that online sales would continue to increase and grab a bigger share of the industry.
By 2024, world e-commerce revenues are predicted at 6.388 billion dollars, while the entire
proportion of e-commerce in retail sales is projected at 21.8% (Yang, 2018).

Some of the researchers anticipated that global retail electronic sales rose 27.6% year-
on-year in 2020, for a total of $4.280 billion, even with a difficult retail year. This is a
significant improvement from the 16.5% growth mid-pandemic evaluation. Total global retail
sales; nevertheless, dropped to $23,839 billion by 3.0% (Bashir, Papamichail& Malik,
2017).In spite of customer eagerness for online purchasing solutions, e-commerce
development globally will decrease significantly this year. The expectations of growth in
global e-commerce are to slide to 14.3% by 2021, partly as a result of a brick-and-mortar
upturn, and partly because there has been such high growth up to 2020 (McMaster et al.,
2020). The e-commerce businesses also expect global retail growth to recover to 5.1% by
2021.

4.1.3 Extensive Rate of Using Foreign Market Entry Strategy by the SMEs
In India, the sector of micro, small and medium-sized businesses is only second only
to China, as is the populace. Over 63 million SMEs were found in the country in the financial
year 2020. Most of them were micro-enterprises in rural regions with a greater number of
them than metropolitan ones. These were most commonly managed by proprietors with little
or no support and income as a goal. In terms of their market contributions and job creation in
the nation, SMEs are important to the economic system. The production of SMEs during the
2015 financial year reached around 30 billion Indian rupees. In the same financial year,
companies' output represented a contribution of approximately 31% to GDP.In 2016 YTD,
the medium stage (Shin, 2017), which is superior to the previous four years, comprised 28%
of American technology acquisitions with Chinese investors. With Chinese investors stepping
into more significant investments and taking corporate minority holdings, the US tech
transaction shares in 2015 and 2016 were down around 35%, after hitting 44% in 2014.
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EVALUATION OF DIFFERENT MARKETING APPROACHES DURING FOREIGN
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Figure 4: China Investor Deal Actively in US Tech

(Source: Shin, 2017)

The services industry, which had an occupation of about 50 million, has the
dominating position among the two sectors, whereas the manufacturing industry can draw
just half of the total. Most jobs come from unlicensed companies, with the onerous licensing
procedure being obviously avoided. "Small things have the greatest effect" is the phrase that
applies to SMEs in India, where the fixed asset value of small companies is more than two
trillion Indian rupees. SMEs in the nation are bound to make a long way with greater
infrastructure input and a streamlined registering procedure and obtaining incentives from the
administration.In the European Union, it was predicted that by 2021, the large proportion of
these micro-sizing companies engaged barely around nine employees. The number of small
and medium-sized organisations was about 22.6 million (Jin &Hurd, 2018). Small companies
with ten to 49 workers were another 1.3 million, while medium-sized companies with 50 to
249 employees accounted for roughly 201 thousand.

SMEs are an essential component of the European economy, although their

importance varies considerably for each nation. In Malta, for instance, 93.1% of the value-
 26
EVALUATION OF DIFFERENT MARKETING APPROACHES DURING FOREIGN
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added for business comes from SMEs, whilst 82% of the added value in Germany comes
from small and medium-sized enterprises (Holtgrave&Onay, 2017). The EU has an average
value of about 56% of SMEs contributing to the economy. A variety of variables are allowed
for Chinese investments in US technology start-ups. These include devaluation of the RMB
increasingly a problem, Chinese investors seeking diversified holdings, an ambitious
governmental development goal, and Chinese internet company's worldwide aspirations.
Since the beginning of 2011, CB Insights has informed the public about a total of $18.2
billion in 679 US IT deals by investors from China, Taiwan and Hungary. Chinese
shareholders' dealings in US IT businesses increased over 4.5% throughout 2012 and 2015
(Ballestaret al., 2020). Over the first nine months of 2016 Chinese investors have taken part
in a total of $3.5 billion in 160 US technology deals.
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Chapter 5: Discussion

5.1 Analysis
Throughout the establishment of the entire study of the findings, the researcher has
been able to identify and interpret significant and evident knowledge from the external
secondary sources. By efficiently studying the findings section, it becomes identified that
nowadays, the multinational companies of different industries significantly implemented
different kinds of effective marketing approaches in order to efficiently operate their
organisational business in the international market. Even, some of the SMEs in China, India,
and the European Union prominently have initiated to pursue the business operation and
marketing system of the MNCs in the same industry(Holtgrave&Onay, 2017). Through this,
the SMEs also become more potent to implement and utilise similar approaches for
proficiently conducting their marketing in both the national and the international
market.Generally, throughout the analysis of the findings, it is seen that the Chinese economy
has been solid for the entire year, increasing foreign direct investment by 18.7%, increasing
in 2019 by 12.3 billion dollars.

In the earlier stages, FDI follows annual cyclical trends, and investment generally fell
due to Christmas and Chinese New Year vacations in the same summer months. This was not
the case this year when the country was shut and borders were barred month after
month.During the first eight months of 2020, the high-tech services industry's largest
spending growth was 28.2%, with its following 12.1% increase compared with the previous
year. In this aspect, it becomes easy to consider that the multinational corporations have put
their prominent focus on developing and implementing more prominent strategies during
their international business operation.Furthermore, In Malta, for instance, 93.1% of the value-
added for business comes from SMEs, whilst 82% of the added value in Germany comes
from small and medium-sized enterprises. The EU has an average value of about 56% of
SMEs contributing to the economy.

A variety of variables are allowed for Chinese investments in US technology start-

ups. In this aspect, it is easy to evaluate that currently the SMEs in these countries also have
initiated to contribute in market share to enhance the rate of GDP. Through this, the countries
will be able to proficiently develop their economic stability and can provide easy access to
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EVALUATION OF DIFFERENT MARKETING APPROACHES DURING FOREIGN
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the business by imposing a reasonable amount of tariffs. In addition to this, in the European
Union, the vast majority of these micro-sizing firms were expected to employ just about 9
people by 2021(Shin, 2017). There were approximately 22.6 million small and medium-sized
enterprises. A further 1.3 million were small firms with ten to 49 people, and about
201,000 medium-sized companies with 50 to 249 workers, which has been able to consider
by evaluating the findings of this research study.

The researcher projected that worldwide electronic retail sales increased by 27.6 per
cent in 2020, totalling $4.280 billion, even with a challenging retail year. This is a substantial
improvement on the mid-pandemic assessment of 16.5%. Total worldwide retail sales
decreased by 3.0% to $23,839 billion. E-commerce development internationally decreases
substantially this year, despite the customer's need for online purchase options. Global e-
commerce expectations are set to increase to 14.3% by 2021, partially in the wake of a brick
and mortar shift and partly because such significant growth has taken place throughout the
year 2020 (Chevalier, 2021). Moreover, the findings have demonstrated that knowledge about
international sales that have been increased due to the participation of large organisations
within the foreign investment system. Generally, in China, most of the cases regarding
foreign direct investment have been seen during the research. And within this, e-commerce
businesses play the most prominent and crucial role in order to strengthen the economic
stability of the country.

Generally, the international e-commerce revenues are estimated at $4,891 trillion

worldwide in 2021. This statistic will continue to rise in the next several years indicating that
e-commerce is an alternative for companies. Furthermore, 19.5% of global retail sales are
projected to come from Internet sales by 2021. So this year, more than a quarter of every $1
invested in commercial items will be invested online. Online sales are projected to continue
to grow and take on a larger part of the market. World e-commerce revenues by 2024 are
expected to reach $6.388 billion, with the whole e-commerce share expected to reach 21.8%
in retail sales(Chevalier, 2021). In this way, it becomes evaluated that the literature section of
this research also provides the knowledge about the increment of international sales during
the MNCs businesses. Fundamentally, during the conduction of the literature study, it is
identified that the MNCs significantly utilise different efficient marketing approaches during
their international business operation. And those processes are effectively pursued by the
SMEs in the same industry.
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EVALUATION OF DIFFERENT MARKETING APPROACHES DURING FOREIGN
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Also, the entire study of findings moreover, evaluated similar things and even the
study of research findings also demonstrated the knowledge that some of the SMEs also have
initiated to proficiently expand their businesses in the neighbourhood countries in order to
enhance their organisational profit margin. In this way, this study of the research becomes
more evident and viable for the researcher due to the collection of appropriate and the
interpretation and outcomes of similar information from the study.

5.2 Summary
Thus, by evaluating and analysing the above-discussed study, it is summarised that
the utilisation and implementation of different marketing approach significantly help the
organisations to proficiently operate their organisational business in the international
market.In the first eight months of 2020, the hi-tech services industry had the greatest
expenditure rise of 28.2%, with an increase of 12.1% over the preceding year. In Malta,
93.1% of added value for businesses is derived from SMEs, while in Germany, 82% of added
value is derived from SMEs. The EU has an average value in the economy of around 56% of
SMEs.Moreover, the researcher has calculated that global retail sales of electronics in 2020
rose to $4.280 billion by 27.6%. This is a significant increase in the 16.5% mid-pandemic
evaluation.

Generally, the global retail sales this year dropped by 3.0% to 23,839 billion dollars.
E-commerce development internationally decreases substantially this year, despite the
customer's need for online purchase options.International e-commerce revenues are estimated
at $4,891 trillion worldwide in 2021. More than a quarter of every $1 invested in commercial
items will be invested online. World e-online revenues by 2024 are expected to reach $6.388
billion, with the whole e-market share expected to hit 21.8%. E-commerce is an alternative
for companies that want to make more money from retail sales.
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Chapter 6: Conclusion and Recommendation

6.1 Conclusion
Throughout the evaluation of the entire study, it is concluded that the utilisation of
different effective marketing approaches during the organisational international business
operation plays the most significant role in order to enhance the proficiency and sustainability
of the business. Multinational corporations like Amazon Inc., Tesco Plc., Flipkart, Starbucks,
etc. utilise different marketing approaches in order to efficiently operate in different
countries. Generally, during the operation in the market of China, the organisations need to
follow the procedure of foreign direct investment; through which, the multinational
organisations will be able to proficiently develop their organisational business operation in
the Chinese market. Moreover, on the other hand, multinational companies like Dominos,
McDonald's, etc. companies implemented the franchising method during their business
operation in the Indian market. In addition to this, the multinational corporations put their
potential focus on utilising the social media marketing approaches also. This approach
prominently helps the organizations to easily operate throughout the world by maintaining the
connection with the remote consumers of the organisation.

In this aspect, it becomes evident throughout the evaluation of the literature study and
the research findings that multinational corporations have been able to extensively enhance
their organisational profitability within the international market. Therefore, the SMEs in the
same industry also have been able to proficiently pursue the entire process of the business
and marketing that are considered by the multinational corporations. This essentially helps
the SMEs in order to fetch some innovation and development to enhance the organisational
brand awareness and the reputation in the market. Through this, the SMEs also will be able to
expand their organisational business in the international market. Generally, throughout the
consideration of the findings of this research study, it becomes more prominently highlighted
that some the SMEs in China have already initiated to expand their organisational business in
their neighbourhood countries like Hong Kong, Tibet, etc. by utilising and pursuing effective
marketing approaches within their organisational culture.
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6.2 Recommendations
During this era of digitalisation, people become more focused and dependent on the
utilisation of social media websites to stay updated. Therefore, both the multinational
organisations and the SMEs need to put their prominent concern on utilising and
implementing the social media marketing approaches within the organisational culture during
their business operation in both the domestic and in the foreign market. Generally, marketing
professionals may now construct persons for their detest hobbies, conduct and demographics
(Ramanathan,Subramanian & Parrott, 2017). Now they may instantly determine regarding the
life events of the audience such as whether recently betrothed, freshly married, new parents
have just recently started a new career, among others. Companies should also retain their
audience so that they can evaluate the contribution of various advertising amongst different
customers. This is helpful in understanding if certain advertising must be running throughout
a certain customer segment.

Word-of-mouth was always behind advertising as a driving factor. This is an

important way to drive visitors and drive purchases. Small firms and start-ups do not
generally have a budget equivalent to big enterprises when it comes to marketing. Therefore,
it is not possible to have a big marketing expenditure. Nevertheless, the corresponding
audience may have means for such companies to promote their products or services (Shen,
Chen & Wang, 2019). Digital marketing is one approach for small companies and start-ups to
reach potential consumers. Therefore, organisations need to implement and utilise social
media marketing strategies for the extensive development of their organisational business.

6.3 Future Scope

By evaluating the entire study of this research, it is highlighted that the researcher has
covered almost all the aspects regarding the study topic.It has been briefly analysed the
importance of joining an external market, various techniques to marketing used by the MNCs
and some advice for small-scale businesses regarding the use of different marketing tactics
for entering a foreign market. Nevertheless, this study has not shown what sorts of dangers
firms who are freshly attempting to extend their company in the worldwide market might
face. A gap was therefore established by the researcher for the whole investigation.
Therefore, the researcher has decided to conduct further research regarding this relevant
topic; where, the researcher will discuss the gap regarding the threats that can be faced by the
organization during their organisational business operation in the foreign market. This will
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provide significant and potential knowledge to future learners and researchers by fulfilling
the gap of this research study.
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