When British entrepreneur Richard Branson opened the first Virgin Megastore in Japan,he did so by establishing a joint venture with the Marui retailing chain.This represents an appropriate market-entry approach for a global retailer.

Question

Quizplus · Accepted Answer

Establishing a joint venture with a local partner is a common market-entry approach for global retailers, as it allows them to benefit from the local partner's knowledge of market conditions, regulations, and cultural nuances. This approach can help mitigate risks and facilitate a smoother entry into a new market.

When British Entrepreneur Richard Branson Opened the First Virgin Megastore