A Case Study on Foreign Market Entry in Indonesia: TCY Cosmetics Co. Ltd.

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研究生：	吳科明 Bimo - Grahito Wicaksono
論文名稱：	A Case Study on Foreign Market Entry in Indonesia: TCY Cosmetics Co. Ltd. A Case Study on Foreign Market Entry in Indonesia: TCY Cosmetics Co. Ltd.
指導教授：	劉代洋 Day-Yang Liu
口試委員:	張琬喻 Woan-Yuh Jang 曾盛恕 Seng-Su Tsang
學位類別：	碩士 Master
系所名稱：	管理學院 - 管理學院MBA School of Management International (MBA)
論文出版年：	2016
畢業學年度：	104
語文別：	英文
論文頁數：	67
中文關鍵詞：	emerging market 、entry strategy 、market entry 、factors behind entry choice 、entry mode 、entry node 、entry timing
外文關鍵詞：	emerging market, entry strategy, market entry, factors behind entry choice, entry mode, entry node, entry timing
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The cosmetics market is one of the more promising industries in Indonesia, with an estimated market value of US$ 1.42 Billion in 2012. It currently has a strong growth of around 15% in the last 3 years and is expected to continue to have strong growth of 10-15% in the future. The growth is supported by increasing middle class segment and purchasing power of the population. Thus, it has attracted so many companies to enter cosmetics market in Indonesia, one of them is TCY Cosmetics Co. Ltd., a Taiwan-based small-medium cosmetics company.
This study aims to find the market entry strategies that would be used by this Taiwan company to enter an emerging market (Indonesia). The study examines both internal and external factors that influence the company to venture into the new market. Furthermore, the base for the start of internationalisation process is company’s inner motives and resources. Motives and resources combined with the cultural distance, competition and general external environment of host country form potential company-specific risks for the entry to foreign market. Potential customers in combination with company resources shows how big is the match between market demand and what company can offer and therefore determines the potential reward. Risks and reward are both input to the decision making process where the potential benefits and drawbacks are analysed against each other. The output of this decision making is the entry strategy.
In conclusion, the most effective entry strategy for the entry to emerging markets is indirect exporting through an agent in case there is high location risk, moderately high competition risk, medium country risk and moderately low demand risk, the company has no surplus finances for big investments and no prior experience in doing business in an emerging market.

ABSTRACT ...................................................................................................................... iii
ACKNOWLEDGEMENT ............................................................................................... iv
TABLE OF CONTENTS ................................................................................................. v
LIST OF FIGURES ........................................................................................................ vii
LIST OF TABLES ......................................................................................................... viii
CHAPTER I INTRODUCTION ..................................................................................... 1
1. Motivation and Background ......................................................................... 1
2. Research Objectives ..................................................................................... 2
3. Research Content and Flowchart .................................................................. 3
CHAPTER II LITERATURE REVIEW ........................................................................ 4
1. Market Entry Strategies ................................................................................ 4
2. Market Entry Modes ..................................................................................... 5
2.1. Exporting ...................................................................................................... 6
2.2. Licensing ...................................................................................................... 8
2.3. Management Contracting ............................................................................. 8
2.4. Joint Venture FDI ......................................................................................... 9
2.5. Acquisition FDI .......................................................................................... 10
2.6. Greenfield FDI ........................................................................................... 11
2.7. Use of Different Entry Modes .................................................................... 12
3. Factors Influencing the Decision of Entry Mode ....................................... 14
3.1. Company Motives for Entry to Foreign Market ......................................... 14
3.2. Company’s Internal Resources ................................................................... 15
3.3. Cultural Distance ........................................................................................ 17
3.4. Risks Related Entry to Foreign Market ...................................................... 18
3.5. Industry Situation / Competition in the Host Market ................................. 21
3.6. External Environment ................................................................................. 24
3.7. Additional Aspects for the Entry to Emerging Markets ............................. 25
4. Entry Nodes ................................................................................................ 27
5. Entry Timing .............................................................................................. 28
6. Decision Making Process for Entry Strategy Choice ................................. 29
CHAPTER III: RESEARCH METHODOLOGY ....................................................... 31
1. Research Design ......................................................................................... 31
2. Data Sources ............................................................................................... 32
3. Case Interview ............................................................................................ 33
CHAPTER IV INDUSTRY ANALYSIS & COMPANY INTRODUCTION ........... 35
1. Industry Overview .................................................................................................. 35
1.1. Market Demand .......................................................................................... 35
1.2. Market Data ................................................................................................ 37
1.3. Key Suppliers ............................................................................................. 37
1.4. Prospective Buyers ..................................................................................... 38
1.5. Distribution Channels & Marketing Strategies .......................................... 38
1.6. Market Issues & Obstacles ......................................................................... 39
1.7. Key Success Factors, Drivers and Inhibitors of the Industry ..................... 40
2. Industry Attractiveness ............................................................................... 42
3. Company Introduction ................................................................................ 44
4. Product Overview ....................................................................................... 47
5. SWOT Analysis .......................................................................................... 49
CHAPTER V: CASE ANALYSIS ................................................................................. 52
1. Company Motives and Resources .............................................................. 52
2. Cultural Distance ........................................................................................ 53
3. Competition in Host Market ....................................................................... 54
4. Potential Customers .................................................................................... 56
5. External Environment ................................................................................. 57
6. Entry Strategy ............................................................................................. 58
CHAPTER VI: CONCLUSIONS AND RECOMMENDATIONS ............................ 62
1. Conclusions ................................................................................................ 62
2. Research Contribution ................................................................................ 62
3. Research Limitation ................................................................................... 62
4. Recommendations for Future Studies ........................................................ 63 REFERENCES ................................................................................................................ 64

                                

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全文公開日期 2021/06/20 (校內網路)
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