A plan for entering a foreign market?

• A. Export Plan
• B. Market Entry Strategy
• C. International Marketing Plan
• D. Global Expansion Strategy

Answer: (B)

This item tests understanding of what plan specifically addresses entering a foreign market. A market entry strategy is the plan that lays out how a company will enter and establish a presence in a new country – decisions about which country to enter, the entry method (exporting, licensing, joint venture, wholly owned subsidiary), the timing, required resources, and how to position and support the product there. An export plan tends to concentrate on the mechanics of selling across borders, not the broader approach to market entry. An international marketing plan covers marketing activities and the mix in international markets, not the choice of entry mode or initial presence. A global expansion strategy is broader, dealing with growth across multiple markets and often including operations and governance, not the specific entry plan for one market. So the best fit for “a plan for entering a foreign market” is market entry strategy.