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Definition: International Expansion is the strategic initiative undertaken by a company to enter and establish its presence in international markets beyond its domestic or current operations. This often involves setting up subsidiaries, partnerships/alliances, or distribution networks in foreign countries to tap into new customer bases, increase revenue streams, and enhance brand recognition on a global scale. It should mainly be considered a form of market development strategy (Ansoff), as basically existing products are being sold in new (geographical) markets. Even if the product(s) are being tailored somewhat towards the tastes of local consumers. |
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