Title: Identify strategies for expansion into the global marketplace.
Course: Opportunities in Global Trade, Advanced (12056-II) > Section: Examining Product Planning in the International Marketing Plan

Identification should include a brief description of potential strategies for expansion by a business into the global marketplace, such as the following:

- Subcontracting
- Joint ventures
- Franchising
- Foreign licensing

Process/Skill Questions:

- What are the advantages and disadvantages of subcontracting, joint ventures, franchising, and foreign licensing?
- What businesses use expansion strategies successfully?
- How would a business determine its best expansion option?
- What is a wholly owned subsidiary?
- What is the difference between licensing and franchising?
- How can licensing be used by domestic companies to expand into international markets?
- Why would joint ventures be permitted by a foreign country that does not allow wholly owned subsidiaries?
- What is the purpose of a test market? How can they be used by a company considering international expansion?