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 inappropriate market-entry approach for a global retailer.

Question

Quizplus · Accepted Answer

Establishing a joint venture with a local company like Marui can be a very appropriate market-entry strategy, especially in markets that are significantly different culturally or have unique business practices, as it allows the global retailer to benefit from the local partner's market knowledge, established reputation, and existing infrastructure.

When British Entrepreneur Richard Branson Opened the First Virgin Megastore