Question

With the current pandemic weighing heavily on people's minds, let's explore some of the ramifications for foreign market entry. Answer each question below.

1) What should firms do with current entry decisions?

2) What is the safest way to enter a foreign market during a pandemic?

3) Which markets are attractive to enter at this time?

4) Which markets are unattractive for entrance?

NO COPY AND PASTE. NO PLAGIARISM. WRITE YOUR OWN OPINION PLEASE.

Thank you!

Answer 1

1) During this pandemic situation, the firms should stay in the domestic country and try to grow the business. the reason for the same is that there is a need to stabilize the economy of every country which is why it would be better if each firm just grows in the domestic market and helps in boosting the economy of the home country.

2) The safest way to enter a foreign market during a pandemic is by establishing business units in that country. In this way, the entry I the foreign country will be way and it also helps in boosting the economy of that foreign country by proving employment opportunity to the population. This is the safest way because when a company centers a new country, the government will allow it only if it is contributing to the upliftment of the economy otherwise not.

3) Food and related product markets are favorable to enter this time as there is a need to provide food to the people as it's is the most affected sector today. The crops are getting destroyed due to uncertain changes in the weather that makes it difficult for the farmers to grow crops. So the food market is a good option to enter today.

4) The market that is unattractive to enter today is the textile and clothing market. The reason being people are not going out in the offices, clubs, restaurants and other gatherings thus there is a decrease in such businesses.