PepsiCo and the Strauss Group have together formed an Israeli business to market Frito-Lay's, Cheetos, Ruffles, and Doritos in Israel. This global market entry strategy is known as
A) franchising.
B) a joint venture.
C) licensing.
D) direct investment.
E) exporting.

Question

Quizplus · Accepted Answer

A joint venture is a business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task, such as entering a new market. In this case, PepsiCo and the Strauss Group have formed a joint venture to market products in Israel.

PepsiCo and the Strauss Group Have Together Formed an Israeli