Question

• Discuss marketing strategy which can be used for entering the foreign market and also discuss labor relations strategy which can be used to maintain continuous operation.

Answer 1

Marketing strategies which can be used to enter foreign market would be exporting as well as licensing as well as franchising and entering into a joint venture with another foreign company.

when we are looking for entering into foreign market then the best way to enter into foreign market is through exporting into the foreign market because it is the most cheapest way to enter into the foreign market as there will be selling of domestic goods to foreign entities and these foreign entities will be paying off with their foreign currencies to the company and this will be leading to exporting from the company and this is a low risk and high reward type a strategy which will be leading to foreign currency transaction exposure and this is low risk and company also has a lower obligation and these foreign currency transaction this can be hedged too. Company will be having a higher chances of penetrating into such market where there is a high demand for the products and increasing market share.

labour relation strategy which can be adopted in order to have a continuous operation are as follows-

A. Reward sharing in case of higher profits will be leading to higher contribution from labour and it will also maintain a better relationship.

B. Establishing effective channel of communication.

C. providing labour chance to get exposed to the working conditions of other Nations as well.

D. Assignment of targets and achievement of target within the specified time period.

E. Having similar lunch time for the labours will be also improving the performance of labour effective communication.