What are the market entry expansion strategies which are available to retailers that wish to cross borders? Describe these strategies in detail

What will be an ideal response?

There are four market entry expansion strategies available to retailers that wish to cross borders. These strategies can be visualized by a matrix that differentiates between (a) markets that are easy to enter versus those that are difficult to enter; and (b) culturally close markets versus culturally distant ones. The upper half of the matrix encompasses quadrants A and D and represents markets in which shopping patterns and retail structures are similar to those in the home country. In the lower half of the matrix, quadrants C and B represent markets that are significantly different from the home country market in terms of one or more cultural characteristics. The right side of the matrix, quadrants A and B, represents markets that are difficult to enter because of the presence of strong competitors, location restrictions, excessively high rent or real estate costs, or other factors. In quadrants C and D, any barriers that exist are relatively easy to overcome. The four entry strategies indicated by the matrix are organic, franchise, chain acquisition, and joint venture. Organic growth occurs when a company uses its own resources to open a store on a greenfield site or to acquire one or more existing retail facilities from another company. Franchising is the appropriate entry strategy when barriers to entry are low yet the market is culturally distant in terms of consumer behavior or retailing structures. In global retailing, acquisition is a market-entry strategy that entails purchasing a company with multiple retail locations in a foreign country. This strategy can provide the buyer with quick growth as well as access to existing brand suppliers, distributors, and customers. Joint ventures, the final entry strategy, are advisable when culturally distant, difficult-to-enter markets are targeted. The strategy is to collaborate with some local company as a joint venture.