Introduction

International marketing becomes a crucial component for businesses aiming to expand globally in an increasingly globalised business environment. This profession necessitates a deep understanding of several marketplaces, each with unique legal, cultural, and economic contexts. It is impossible to overestimate the significance of international marketing as it enables companies to enter new overseas markets, increase the size of their clientele, and raise brand recognition across the world (Doole et al., 2019).

Any global marketing strategy must start with the concept of market access. Market entry strategies are crucial guides that assist businesses in navigating the difficult process of introducing products or services into unexplored international markets. Among these strategies are collaborative ventures, exporting, licencing, and franchising.

Joint ventures, internet or e-commerce platforms, and foreign direct investment are examples of more complicated partnerships (Almor, 2018). Every strategy has a different set of advantages and disadvantages; therefore, it is critical to do a thorough analysis to choose the one that best matches the objectives and available resources of the company.

Additionally, the external environment has a substantial influence on these decisions about market access. The choice of entrance strategy is greatly influenced by a number of factors, including political stability, economic circumstances, legal frameworks, socio-cultural dynamics, technical developments, and environmental concerns. These factors are all incorporated in the PESTEL study (Leyva et al., 2018).

A technologically sophisticated market may be more receptive to digital entry techniques, whereas a market with strict regulatory obstacles may require a joint venture or strategic partnership to enable simpler market penetration. This paper will analyse the different market entrance methods used in international marketing and explain the benefits that come with each strategy.

Simultaneously, it aims to investigate the degree to which the external environment influences these decisions on market entrance, as demonstrated by the case study of Starbucks' different approaches to entering Spain and New Zealand. This investigation will yield priceless insights into the complex interactions between environmental elements and market entrance methods, highlighting the significance of a customised strategy in global market growth.

Part A

Overview of Market Entry Strategies

In the context of international marketing, market entrance tactics are fundamental and refer to the approaches and methods used by companies to launch their goods or services into a new overseas market. These tactics are crucial because they essentially dictate how a business will enter and establish itself internationally, impacting its long-term viability and performance in a variety of sometimes difficult foreign marketplaces (Watson et al., 2018).

There are several layers to the significance of these tactics. They provide firms advice on how to reduce the risks of growing internationally, such as misunderstandings about local customs, breaking the law, and unpredictability in the financial system (Hofer and Baba, 2018).

Businesses may maximise resource allocation, adjust to local market circumstances, and benefit on distinctive possibilities given by various foreign markets by choosing a suitable market entrance strategy (Berndt et al., 2023). Moreover, these tactics play a crucial role in moulding a business's worldwide brand image and market positioning, impacting customer attitudes and competitive dynamics in the global arena (Stoian et al., 2017).

Navigating the complexity of global marketplaces essentially requires selecting and implementing a successful market entrance plan. This choice affects a company's foreign venture's initial performance as well as how it will expand and change in the future in the always changing global economy.

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Exporting

Exporting is the process by which a business transfers goods or services from its home market to a foreign market. It is a fundamental component of plans for entering international markets (Oliveira et al., 2018). Because of its ease of use, this approach is frequently the first step that companies take on their path to worldwide development. Exporting may be divided into two main categories: direct and indirect. In direct exporting, a business sells its goods to international consumers directly, frequently via a distributor or agent in the destination nation (Dinu, 2018).

Although this strategy offers more control over the distribution process, it also necessitates a larger financial and market knowledge investment outside. On the other hand, indirect exporting comprises selling goods to a middleman, such an export trading corporation, who then sells them to a foreign market (Lindsay et al., 2017). Although the original company's resource and expertise load is lessened, its control over the market penetration process is also curtailed by this approach.

There are a number of benefits to using exporting as an entrance tactic. When compared to other market entrance tactics, it is typically linked with lesser risk, especially when it comes to financial commitment and exposure to foreign market dynamics (Lin and Ho, 2019). Furthermore, exporting allows for scalability; depending on the success of their initial exporting endeavours, businesses may progressively expand their degree of participation and investment in the overseas market (Hollender et al., 2017).

Because of this flexibility, companies may venture overseas and gradually expand their footprint there, changing their approach as they get a better understanding and confidence in the foreign market.

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Licensing and Franchising

Both franchising and licencing are separate but related approaches used to enter foreign markets; each has special benefits for companies growing globally. A licencing agreement is a contract in which a business (the licenser) allows a different business (the licensee) to utilise its intellectual property, such as technology, trademarks, or patents, in a foreign market (Fuchs, 2022).

Because the licensee assumes the majority of the operational duties and costs, this model enables the licensor to grow its brand visibility with minimum investment and risk (Tien and Ngoc, 2019). Businesses looking to use their local knowledge and skills while pursuing a low-resource entrance strategy might benefit from licencing.

Conversely, franchising is a more all-encompassing type of business agreement. Under this arrangement, the franchisor grants the franchisee full access to its brand and business strategy (Hennart, 2022). It covers not just the goods or services but also marketing plans, operational guidelines, and more.

According to Baena (2018), franchising is especially advantageous for companies that have a profitable and scalable business plan and are looking to grow quickly without having to invest the large sums of money needed to create several stores or branches.

A well-established business structure is made available to the franchisee, while the franchisor enjoys increased market reach and brand awareness (Divrik, 2023). Compared to joint ventures or totally owned subsidiaries, these approaches provide avenues to global markets at lower risk and expense. They allow businesses to take advantage of local market presence and expertise, both of which are essential for a successful foreign development strategy.

Joint Ventures and Strategic Alliances

Strategic alliances and joint ventures are examples of cooperative approaches for breaking into foreign markets; each has unique benefits and characteristics. In a joint venture, two or more firms create a new organisation that is co-owned, and they frequently pool their resources, knowledge of the industry, and skills to accomplish a shared commercial goal (Nippa and Reuer, 2019).

Because it allows for market access through a partnership with a local firm, this technique is especially beneficial in places where foreign ownership requirements are stringent. According to Muñoz de Prat et al. (2020), joint ventures facilitate shared risk and investment, access to local market knowledge, and the synergistic benefits of combining experience.

Although they include comparable forms of collaboration, strategic alliances usually do not lead to the creation of a new organisation. Rather, they entail a partnership agreement in which businesses collaborate on a particular project or within a certain industry while maintaining their independence (Ripollés and Blesa, 2017). In order to achieve shared commercial objectives, firms might pool resources and expertise through these flexible and less binding alliances than joint ventures.

According to Tjemkes et al. (2017), benefits include the opportunity to take advantage of complementary capabilities, shared risks and expenses, and enhanced competitiveness through strategic alliances. By using the advantages and industry expertise of local partners, these models provide a way to lessen the difficulties and uncertainties associated with entering a new market. They are appropriate for businesses looking for cooperative strategies for global growth since they provide a good mix of control and flexibility.

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Foreign Direct Investment

A significant method of breaking into the global market is through foreign direct investment (FDI), which is making a direct financial investment in a foreign enterprise or production (Paul and Feliciano-Cestero, 2021). According to Paul and Benito (2018), there are two main categories of foreign direct investment (FDI): greenfield investments, which include starting from scratch to develop new operations or facilities, and acquisitions or major investments in already-existing enterprises in the target nation.

Foreign direct investment has several benefits. First and foremost, it gives businesses total control over their foreign operations, allowing them to establish and uphold their own standards, procedures, and corporate philosophies.

According to Desbordes and Wei (2017), this degree of control is especially advantageous for preserving the integrity of the brand and guaranteeing uniform quality throughout international operations. Furthermore, FDI frequently makes it easier to get beyond trade restrictions, giving investors direct access to the local market and, in the event that the host nation has advantageous trade agreements, maybe even to regional markets.

Additionally, it allows the investor to take use of local labour, material, and logistical resources (Nielsen et al., 2017). Additionally, foreign direct investment (FDI) may result in major economic advantages for the host nation, including the creation of jobs and the transfer of knowledge, which can strengthen ties between the investing business and the local government and community (Liang, 2017). Sustainability in the global market and long-term corporate operations may benefit from this mutually beneficial partnership.

Digital and E-commerce Entry

Traditional ideas of entering foreign markets have been completely transformed by the emergence of digital and e-commerce platforms, which provide companies with a creative and comprehensive way to access international markets. By utilising digital platforms, this tactic circumvents the traditional need for a physical presence in the target market to offer goods or services online (Cassia and Magno, 2022).

The broad reach of digital and e-commerce penetration is one of its main benefits. Companies can reach a worldwide clientele, surpassing regional boundaries (Qi et al., 2020). This is especially useful for unique goods and services that are in high demand locally yet have a worldwide appeal. Furthermore, compared to physical market entrance techniques, digital entry strategies frequently include much cheaper costs (Wang et al., 2019). Lower personnel needs, scalable marketing spending, and a less necessity for physical infrastructure are the main causes of the cost reduction.

Furthermore, companies may successfully adjust their services and marketing tactics to a variety of client categories thanks to the extensive data analytics that digital platforms offer (Hånell et al., 2020). By improving customer engagement and satisfaction through data-driven methods, conversion rates and customer loyalty may increase.

Additionally, e-commerce and digital input methods provide exceptional scalability and flexibility (Jaine et al., 2021). With little financial outlay, companies may explore new markets and expand their operations in response to consumer demand. This flexibility is essential in the ever-changing global marketplace, where customer demands and market dynamics can change drastically in an instant.

Part B

Environmental Factors in Market Entry

A thorough PESTEL analysis—an abbreviation for Political, Economic, Social, Technological, Environmental, and Legal elements—is necessary for enterprises entering foreign markets due to the significant impact of environmental variables.

Strategic decision-making requires a comprehensive awareness of the external environment, which this research makes possible (Shtal et al., 2018). Market entrance may be greatly impacted by political variables, such as trade rules, political stability, and governmental policy. The market's purchasing power and general business viability are influenced by economic factors as inflation, growth, and currency exchange rates (Watsonet al., 2018).

Social variables are important for customising products and marketing techniques since they include cultural norms, customer habits, and demographics. Particularly in digitally-driven marketplaces, technological developments influence market access and operational efficiencies (Berisha et al., 2017).

Environmental factors, which are becoming more and more important in the contemporary environment, include following regulations and adopting sustainable practises. Ultimately, the legal framework that firms must function inside is determined by several legal issues, such as employment rules, intellectual property rights, and business regulations (Fuchs, 2022).

Businesses may improve their chances of success in foreign markets by matching their market entrance plans with local conditions by having a thorough understanding of these environmental elements.

Case Study Overview

This research explores Starbucks' approaches to entering the Spanish and New Zealand markets, showing how flexible and diverse a global brand can be while traversing different international markets. Starbucks, a well-known chain of coffee shops, adopted different entrance methods in these two nations in response to their distinct environmental conditions.

Starbucks and the VIPS Group established a joint venture in Spain by utilising the local knowledge and market familiarity (Hewett et al., 2022). On the other hand, the firm chose to enter into a licencing deal with Restaurant Brands New Zealand Ltd. in New Zealand, a move that was consistent with the features of the market (Tregidga et al., 2018). 

Market 1: Spain (Joint Venture)

Starbucks showed their flexibility in a variety of international markets and their dedication to honouring regional customs and cultures when they wisely chose to enter the Spanish market in 2001 through a joint venture. El Moli Vell and Grupo Vips, two of the leading businesses in Spain's food service and retail sectors, partnered with Starbucks (Progressive Grocer, n.d.).

Starbucks' overseas expansion strategy, which centred on forming partnerships with organisations that could share its values, culture, and objectives for community development, depended heavily on this collaboration.

Grupo Vips is a well-known operator in Spain's full-service dining market, with over 30 years of experience in the restaurant and retail sectors. The company has several chains and has built a solid reputation for providing excellent customer service and high-quality goods (Starbucks, 2016).

Their robust financial resources and in-depth understanding of the Spanish market were essential for quickly growing the Starbucks idea and surpassing rivals. El Moli Vell contributed value to the project with its strong local ties and devoted clientele. The company is well-known for its bread product expertise and strong local presence in the Barcelona region (Starbucks, 2016).

Starbucks was able to take use of its partners' existing customer base, operational know-how, and market experience through the joint venture with these well-established Spanish businesses. Starbucks used this tactic to successfully negotiate the established and difficult Spanish coffee industry in order to pursue quick growth and market penetration (Comunicaffe, 2016).

Starbucks minimised its ownership and investment in the joint venture by investing only 18% of the share and without utilising a co-branding strategy, indicating a deliberate approach to financial management during its internationalisation process (Progressive Grocer, n.d.). 

Market 2: New Zealand (Licensing)

Starbucks and Restaurant Brands New Zealand Ltd. entered the New Zealand market in 1998 thanks to a licencing arrangement (Shaw, 2018). The rationale for this strategic decision was to enter the market with lower levels of investment and management participation than in other regions, such as the UK, where acquisitions were sought after, or Spain, where joint ventures were chosen.

Through licencing, Starbucks was able to take use of Restaurant Brands' pre-existing infrastructure and market expertise. Restaurant Brands offered a wide range of goods and services, including franchises with other US businesses like Kentucky Fried Chicken (World Coffee Portal, 2018).

Starbucks found that this strategy was economical since licencing involves less capital than launching a new business or overseeing day-to-day operations. Because the activities were managed by a local partner who was acquainted with the market dynamics, it also decreased the risks related to overseas marketing.

Due to their stock exchange listing, track record of success, and investor trust, Restaurant Brands New Zealand Ltd. was a perfect partner for Starbucks (Starbucks, 2018). The necessity for employee and customer retention—which is critical for company continuity—influenced the choice to licence rather than buy operations completely in New Zealand. Starbucks did not have to make significant investments in infrastructure or management thanks to licencing, which reduced the risks related to ownership change and transition (Newsroom, 2018).

At the time, there was less competition in the New Zealand coffee industry, thus Restaurant Brands had an advantage because it had expanded its product line to include fast food and coffee from the US. The firm was able to survive and thrive in the coffee sector because to its diversification strategy, which also included the launch of 30 different kinds of Arabic coffee beans, pastries, and sweets, as well as the development of new retail sites around the nation (Verdict Food Service, 2018). 

Comparative Analysis

Starbucks has demonstrated its resilience and strategic aptitude in international expansion with its market entrance efforts in Spain and New Zealand. Starbucks decided to form a joint venture in Spain, working with regional companies like Grupo Vips and El Moli Vell. The necessity to manoeuvre through an established player-filled, competitive, and mature coffee industry motivated this strategy. Starbucks was able to quickly penetrate new markets and expand its operations by utilising the operational capabilities, brand awareness, and local experience of its partners through the joint venture (Hewett et al., 2022).

Conversely, Starbucks used a licencing strategy in New Zealand, collaborating with Restaurant Brands New Zealand Ltd. Considering the less competitive coffee industry at the time, this technique was chosen for its lower managerial involvement and cost-effectiveness (Shaw, 2018). Starbucks was able to lower the risks and costs associated with entering a new market by utilising Restaurant Brands' established infrastructure and market presence through the use of a licencing strategy.

Starbucks strategically considers a range of environmental elements, such as market maturity, competitive intensity, local business culture, and customer preferences, when determining the entrance option in each region. In Spain, the joint venture was required to establish a presence in an advanced and established industry, but in New Zealand, licencing made sense because of the less competitive market and the chance to reach an existing clientele with a wide range of food and drink options. 

Conclusion 

Ultimately, this examination has clarified the complex aspects of foreign market entrance tactics, concentrating on Starbucks' forays into Spain and New Zealand. Starbucks' capacity to strategically adapt is seen by the different ways it has approached these two areas, which emphasises how important external environmental variables are in influencing decisions about entering a new market.

In Spain, the competition and maturity of the industry required the joint venture approach, while in New Zealand, the licencing model was chosen since it was more affordable and the market was not as competitive at the time. These case studies highlight how crucial it is for companies to carry out in-depth market analyses and modify their plans in order to take into account regional market dynamics, cultural quirks, and customer preferences.

A global brand's capacity to traverse and adapt to the challenges of varied markets is just as important to its success in foreign markets as the inherent value of its goods and services. To develop globally, firms require this flexibility in addition to smart alliances and a deep knowledge of local market dynamics.

The most important lesson for companies considering global expansion is the need for a sophisticated strategy to market entrance. The selection of a market entrance strategy need to be a thoughtful process driven by a comprehensive comprehension of the target market's attributes, encompassing cultural, economic, and competitive aspects. Through the use of adaptability and local market knowledge, companies may improve their chances of success in the international arena. 

 

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