Question

assuming you are owner of recent startup. how would you engage with multinational to startegcally penetrate in the local market?

Answer 1

Being the owner of a recent startup, I would engage different strategies to penetrate the local market in different countries. The important strategies I would applying will be as follows:

* Understanding the need of the local markets and making suitable products.

* I will look for potential partnerships in each region to penetrate easily.

* Will start units in the countries which have huge business potential. This will help in cost reduction.

* Will give advertisements in the local media and also will get the help of social media influencers for the purpose of marketing.

* Will understand customer behaviours, their buying habits, culture extra in order to cater them well.

* Will collaborate with local companies in similar business.

* Will check the need of rebranding of the products or services according to the culture of the particular nations.

* Will sell goods for zero profit in the initial months to have maximum reach.