The Wave Strategy was first described by Christoph Lymbersky in the book "Market
Entry Strategies".
This strategy can be employed by a company that wants to expand
its business to other countries.
"The wave strategy focuses on cultural differences and...
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The Wave Strategy was first described by Christoph Lymbersky in the book "Market
Entry Strategies".
This strategy can be employed by a company that wants to expand
its business to other countries.
"The wave strategy focuses on cultural differences and clasifies countries/markets
in market groups (e.
g.
A, B and C) that show similar characteristics to the home
market of a company.
"
The Wave Strategy is a mix of the Sprinkler strategy where all suitable markets get
entered at the same time and the Waterfall Strategy where one market gets entered
at a time and several in a row.
These strategies are however very theoretical.
In
the real world, we often find a mixed timing to enter a foreign market.
Markets
that get grouped into the first wave are markets that are similar to the home
market with little variations.
Based on the thoughs of *Geert Hofstede and Eduard
T.
Hall countries that show similar cultural characteristics such as Germany,
Austria and Switzerland would be grouped
Less