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International Relations

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Chapter 8
1. What are the advantages and disadvantages or using licensing as a market entry tool? Give examples of companies from different countries that use licensing as a global marketing strategy. Licensing: Advantages:
• Low cost entry alternative
• Allows licensor to circumvent tariffs, quotas, or similar export barriers
• Limits political risk and risk of expropriation
• Provides additional profitability with little initial investment
• Provides method of circumventing tariffs, quotas, and other export barriers
• Attractive ROI
• Low costs to implement
Disadvantages:
• A limited form of participation; licensor generally has no control on marketing program associated with product produced under license.
• Financial upside limited by royalty rate.
• Licensees can become competitors.
2. The president of XYZ Manufacturing Company of Buffalo, New York, comes to you with a license offer from a company in Osaka. In return for sharing the company's patents and know-how, the Japanese company will pay a license fee of 5 percent of the ex-factory price of all products sold based on the U.S. company’s license. The president wants your advice. What would you tell him? Assuming XYZ is a small manufacturer with limited international experience, and if the picture for both market and sales (market share) potential are promising, licensing can be an attractive entry mode. Possibly entry into the Japanese market could be expedited by following this approach, especially if distribution would be a problem. However, XYZ must carefully study the geographic scope of the agreement. Should licensed product be marketed only in Japan? Another concern for XYZ is that the licensee will become a stronger competitor once it has absorbed XYZ’s know-how. XYZ may wish to investigate other potential licensees before making a final decision. XYZ must also ensure that its

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