Doing Business in Emerging Markets for Approach- myassignmenthelp

Question: Discuss about theDoing Business in Emerging Markets for Regional Approach. Answer: Best way to enter Dubai: There are four identified modes of entering or marketing in Dubai such as finding a local distributor, regional approach, competitive positioning, and trade shows. Finding a local distributor- It is preferred in most sectors. Many foreign companies do take this approach to enter Dubai. However, finding the appropriate local distributor is indeed bit challenging (Export.gov 2018). Regional approach- American firms have long relied on adopting a regional approach for doing business in Dubai. Dubai is also one of the largest and fastest emerging markets for American services and goods. However, the approach can now be a challenge as it is an expected consequence of partial blockade against Qatar. The ban was imposed in June 2017 (Export.gov 2018). Additionally, a 5 percent tariffs will now be imposed on the majority of goods across associate countries of the Gulf Cooperation Council (GGC) (Export.gov 2018). This is in actually will ask the end users to pay a more. The sales performance may be tested under the circumstances. Hence, the regional approach may not be an ideal mode of entry. Competitive positioning- This is another mode of entry where foreign companies position it like a potential rival to the already existing foreign companies. The competition may be intense and hence, this strategy also does not look a most viable approach to enter Dubai (Export.gov 2018). Trade shows- Dubai is a commercial hub for regional countries that are the members of Gulf Cooperation Council (GGC). The country hosts top-notch trade fairs and conferences. This is indeed a good platform where foreign businesses may be able to meet the buyers from Africa, Middle East, and South East Asia. The number of the trade show is also increasing. The details of such activity are available at www.export.gov/uae (Export.gov 2018). Factors to consider for ensuring a successful venture: There are some factors which are important and should be considered while facilitating a business in foreign locations. One of those is to understand the external business environment analysis through the PESTLE. The external business environment analysis collects information on the various factors of the target country like political, economic, social, technological, environmental and legal. In every way, foreign businesses may be challenged if not being handed strategically (Shiozawa 2015). Porters Five Forces is another factor which gives an insight of the industry of the target market. It provides information on the competitive rivalry, bargaining power of suppliers customers, threat of substitute new entrants (Shiozawa 2015). Hofstedes cultural dimension is also important to understand the business and common cultures in the target country. Consumer behaviour is another thing which is important from the perspective of a business in new markets (Shiozawa 2015). Market reports: Yes, the market reports can be availed from Alpen Capital which is a firm that provides the range of financial advisory services to corporate clients across the GCC and South Asia. Alpen Capital provides reports on the range of industries that exist in Gulf Cooperation Council (GCC) and South Asia (Group 2018). References: Export.gov. 2018.United Arab Emirates - Market Entry Strategy | export.gov. [online] Available at: https://www.export.gov/article?id=United-Arab-Emirates-Market-Entry-Strategy [Accessed 24 Mar. 2018]. Group, A. 2018.Alpen Capital | Welcome. [online] Alpencapital.com. Available at: https://www.alpencapital.com/index.html [Accessed 24 Mar. 2018]. Shiozawa, Y., 2015. International trade theory and exotic algebras.Evolutionary and Institutional Economics Review,12(1), pp.177-212.