What is the strategic plan for entering new markets called?

• A. Export Strategy
• B. Product Line Expansion
• C. Local Partnership Plan
• D. Market Entry Strategy

Answer: (D)

Market Entry Strategy is the plan for how a company enters new markets. It covers deciding which markets to target and choosing the methods to enter them—such as exporting, licensing, joint ventures, or establishing a local subsidiary—along with timing, resources, and risk management. This term is broader than just selling from abroad; it aligns goals, capabilities, and actions across the entry process.

Export Strategy is narrower, focusing specifically on selling goods in foreign markets and often represents just one method within a broader entry plan. Product Line Expansion centers on adding or broadening products, not on how to reach new customers in new places. A Local Partnership Plan suggests forming partnerships, but it’s one possible approach within a market entry strategy, not the entire framework.