Thesis (MBA)--Stellenbosch University, 2013. / Expanding business operations and exploring additional sources of revenue to ensure
sustainability and longevity are some of the key business drivers of any organisation. These drivers
have many organisations consider the opportunity of expanding business operations to foreign
territories.
Some of the major challenges when expanding business operations to new territories are those of
competing against local brands in the same industry or introducing a whole new product or service
to a new market. It therefore seems much of a demand versus supply consideration when
organisations do decide to venture to new territories. Introducing a whole new product or service to
a new market addresses the demand issue based on the premise that a need for this product or
service exists. The existence of competition, not only directly with industry related brands but also
other brands, addresses the supply of the particular product or service. This demand and supply
dynamic forms the basis of this research paper.
Given this context, considering the complexities of a new market from both an internal business
and external industry point of view, is critical in establishing if an opportunity set exists in this new
potential market which can be exploited. Once the opportunity set has been confirmed,
organisations can shift their focus to the intended business and brand management strategy to be
followed when entering this new market.
Product and service organisations do, however, face many different challenges when entering new
markets. One of the primary differences is that of tangibility of their respective offerings. This
complexity leaves services organisations with few instruments to leverage in competing against
product providers for the share of wallet of the consumer. As consumers associated with products
and services do not have a tangible product per se, the emphasis is placed on the brand of
services organisations as the associative connection from a consumer point of view.
Given the two mentioned concepts of entering new markets and different challenges which product
and service providers face when doing so, the contextual environment of this study is set in the
Financial Services Industry. This study explores the key considerations that financial services
organisations should be cognisant of, from a branding point of view, when entering new markets.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/95633 |
| Date | 03 1900 |
| Creators | Botha, Jaco |
| Contributors | Herbst, F. J., Stellenbosch University. Faculty of Economic and Management Sciences. Graduate School of Business. |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | English |
| Type | Thesis |
| Format | xii, 99 p. |
| Rights | Stellenbosch University |
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