Discuss the steps to evaluate new foreign markets

Discuss the steps to evaluate new foreign markets

Discuss the steps to evaluate new foreign markets
Explain international market entry methods
Describe the four international competitive strategies
Explain the importance of formal and informal institutions to succeed in a foreign market
Relate this week’s topics to a real-life scenario
Demonstrate critical thinking in terms of applying the concepts learned to situations found in the global marketplace
Alon, I., Kupetz, A. H. (2006, 2017). Ruth’s Chris: The high stakes of international expansion. Ivey Publishing.

 

Explain international market entry methods

Discuss the steps to evaluate new foreign markets

In addition to reading the case, listed below is additional information to help you analyze the Ruth’s Chris Case:

Based on the decision criteria (discussed in the case and criteria that you think is most relevant), discuss two potential international locations, including the city and the country for the next restaurant.
Compare the two locations using the CAGE analysis format.
Make a final recommendation of the best location (of the two discussed in # 1 and # 2 above). Provide persuasive explanations and supporting information to justify your recommendations. Convince Mr. Hannah (and me) why Ruth’s will be successful in this new international location.
Recommend a mode of entry (company-owned, franchise, license, joint venture, export, etc.) and explain why this is the best way for Ruth to enter. Discussing potential partners and licensees is highly encouraged (and will be rewarded).

 

Describe the four international competitive strategies

Discuss the steps to evaluate new foreign markets

Remember: do not waste any time or space repeating facts in the case. (I have read the case.) Be clear and concise. Use both qualitative and quantitative data to support your recommendations. Use charts, graphs, tables, etc., to support your analysis.

Discuss the challenges and/or important factors facing the company
Show evidence that you performed research on relevant topics (industry, company, product, country, market, competition, etc.) and understand the current situation
Discuss two possible alternatives to “solve” the problem
Recommend a specific course of action and provide a convincing explanation as to why your actions will lead to success for the company