Abstract
The article contains analysis of the process of forming the foreign market entry strategy, the factors that influence its development, and the systematization of strategic alternatives for entry strategy (indirect export, direct exports, licensing, joint ventures, ownership, direct investment). The complex of existing instruments of choosing the best strategic alternative for a particular company was researched. It was found out that the available tools are more suitable for manufacturing companies and do not take into account the specificity of services. In particular, such characteristics of services as intangibility and inability of their storage limit the use of strategic alternatives related to exporting. A possibility of adaptation the matrix for selection the strategy of entering the foreign market for service industries, especially for the hotel industry, was proposed. The application of the matrix for selection the entry strategy for a specific company from the UAE was illustrated.
Highlights
In terms of globalization of markets and increased competition it is important for any company to develop an international marketing strategy
The research on entry strategies from a manufacturing perspective is extensive, but service industries have their own peculiarities, and this research deals with the entry strategies from a service perspective
To operate business in foreign countries, the primary consideration and most critical issue in international market entry strategy is the selection of appropriate entry mode
Summary
In terms of globalization of markets and increased competition it is important for any company to develop an international marketing strategy. One of the important elements of international marketing strategy is the decision concerning the entry or penetration strategy into the foreign market. With so many alternatives for entering the international market, it can be difficult for a company to decide on the strategy that will meet its strategic objectives with the most success. This is why strategic planning is so important; different markets and industries will require a different approach. Entry mode research from a service perspective is still limited and need more studies for particular service industries
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