This paper looks at business entry into Thailand for a Swiss company.
Written in 2008; 900 words; 2 sources; MLA; $ 31.95
Paper Summary:
In this article, the writer notes that, in general, when market entry into a foreign country is considered, a company has several issues to take into consideration. The writer discusses that elements such as economic and political risk, as well as market penetration, entry methods, and foreign exchange rates need to be considered in order to successfully enter the foreign market. Thorough research is therefore necessary to establish the extent of each risk before making the entry attempt. The same is true for a Swiss-based company attempting to enter Thailand. The writer discusses that the basic problem with market entry into Thailand is the cultural and political barrier, as well as possible economic risks. The writer maintains that a solution to this can be thorough initial research of cultural differences and the consulting strategies that would appeal to the Thailand market, as well as initially entering into a limited geographical range.
From the Paper:
"The Swiss and Thai markets are vastly different as a result of the fundamental cultural difference between the Western and Eastern paradigm. The Swiss consulting company should therefore invest in a thorough research strategy before attempting entry. This research should focus on the cultural paradigms and values of Thailand, as well as the marketability of the consulting service. Such research is then used to modify the service to cater to the Thailand market.
"Of course there are substantial economic costs associated with market research and service modification, particularly for a foreign market that is as vastly different from the Western market as Thailand. The first step is therefore to conduct a cost/benefit analysis on the basis of an initial market and culture research program. Furthermore, local employees can be recruited to work with Swiss employees in order to facilitate the research process. These local Thai employees can also be used in establishing the Thailand branch of the organization, and to work as liaisons between the Thai market and the Swiss company."
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