Venture into China from Singapore for Ventures- myassignmenthelp

Question: Discuss about the Venture into China from SingaporeforJoint Ventures. Answer: Market Entry Strategy Mode of entry The entry methods for any business in the international market are the exporting, franchising, licensing, joint ventures, turnkey project and so on. For a company based in Singapore, a joint venture is the best mode to enter China (Ang et al., 2015). Evaluation of method of entry The joint venture is the way by which Singapore based company will be able to jointly operate in China with some China based company (Laufs, and Schwens, 2014). It enables the process of risk sharing and also the joint product development for the enterprise. Advantages of Joint ventures Advantages: Provides better resources with specialized staff members Temporary arrangement between two companies (Shi et al., 2014) Helps to destroy discrimination risk Flexible in nature Disadvantages of Joint ventures Disadvantages: There is no equal involvement Flexibility is sometimes restricted Great inequity of assets, investment and expertise Contract is involved which it makes hard for existing partnership Marketing communications Communication objectives Objectives are: Creating the awareness Projection of the image Stimulating the desire or needs Creative message Original message help customers to get attracted to the brand image (Belch et al., 2014). This medium helps the organization of Singapore to expand their brand awareness among the people of China. Creative strategy The innovative approach is the way to which original message and the marketing objectives are carried out. It helps the organizations to enhance their creativity in marketing for attracting customers. Advertising channels Direct marketing The process of directly selling the products to customers is known as direct marketing. Billboard and bus stop marketing is the example of direct marketing for the organizations. Trade shows Trade fair or trade show is also a process which is used for product advertisement. In China, the Beauty Expo is the biggest trade fair of beauty and cosmetics in the world. Traditional and new media The process of new media is Facebook, YouTube and so on. This medium helps organizations to advertise their brand and product through media (Nisar, and Yeung, 2015). Out of home advertising Out of home advertising is also a way by which organizations can promote their products. One of the best ways for this type of publicity is the Bus stop. Online The online method provides the chance for organizations to explore their brand awareness in the entire world with the help of the internet and social media (Almotairi, 2014). Sales promotion Sales promotion is the way by which organizations did various activities to promote their products and to increase their sales. Word of mouth Word of mouth is the process where each of the happy and satisfied customers spread the brand and product awareness of all the organizations. Press release The advertisement process to spread product knowledge with the help of press meeting and new articles for the customers is a news release. Reference List Almotairi, M., 2014. Intertemporal Effects of Online Advertising Channels on Customers.International Journal of Business and Social Science,5(9). Retrieved from: https://search.proquest.com/info/openurldocerror;jsessionid=D1CD04F08C4330C28889DA2935C9B912.i-07f6d59296d8724ee Ang, S.H., Benischke, M.H. and Doh, J.P., 2015. The interactions of institutions on foreign market entry mode.Strategic Management Journal,36(10), pp.1536-1553. Retrieved from: https://onlinelibrary.wiley.com/doi/10.1002/smj.2295/full Belch, G.E., Belch, M.A., Kerr, G.F., and Powell, I., 2014. Advertising: An integrated marketing communication perspective. McGraw-Hill Education. Retrieved from: https://eprints.qut.edu.au/79277/ Laufs, K. and Schwens, C., 2014. Foreign market entry mode choice of small and medium-sized enterprises: A systematic review and future research agenda.International Business Review,23(6), pp.1109-1126. Retrieved from: https://www.sciencedirect.com/science/article/pii/S0969593114000444 Nisar, T. and Yeung, M., 2015. Purchase conversions and attribution modeling in online advertising: an empirical investigation. Retrieved from: https://eprints.soton.ac.uk/380534/ Shi, W.S., Sun, S.L., Pinkham, B.C. and Peng, M.W., 2014. Domestic alliance network to attract foreign partners: Evidence from international joint ventures in China.Journal of International Business Studies,45(3), pp.338-362. Retrieved from: https://link.springer.com/article/10.1057/jibs.2013.71