Zest manufactures tomato sauce and is located in Venezuela. The company is trying to enter a new market and, to assess it, Zest is evaluating the market's size and population growth rate. After completing the analysis, Zest decides to invest in the market by partnering with a local firm. Zest provides the firm with resources and technology. While developing their marketing strategy, the two firms decide to change the flavour of the tomato sauce to suit the taste of local consumers.
-The type of entry strategy used by Zest is:

Question

Quizplus · Accepted Answer

Zest is partnering with a local firm, which indicates the use of a joint venture entry strategy. Both firms are collaborating and pooling resources to enter the new market.

Zest Manufactures Tomato Sauce and Is Located in Venezuela