Competitiveness – Markentry USA

24Feb 2021 by ggarciadme@gmail.com

Seven deadly sins in US market entry

Business

By Gonzalo Garcia, Founder and CEO of Markentry USA CONTENTS Introduction 1. Not adapting the 4 Ps of the ‘marketing mix’ to the target market 2. Ignoring regional differences or acting in the wrong state 3. Landing without the local support of experts in the target market 4. Acting without a subsidiary or choosing an inappropriate structure for it 5. Designing a complex and rigid business plan 6. Underestimating costs and deadlines 7. Underestimating the impact the US can have on the business Conclusion Conclusion Introduction The challenge faced by international companies and foreign entrepreneurs when trying to enter the US market is as great as the payoff obtained from succeeding. We are talking about a market of 330 million people with a per capita income of $65,000, which being…

The «Dunning-Kruger» effect and the importance of feasibility studies in business internationalization to the US market

Strategy

By Gonzalo Garcia, Founder and CEO of Markentry USA 1. The Dunning-Kruger effect and other cognitive biases The Argentinian actor Ricardo Darín, in the fabulous film "The secret in their eyes", awarded an Oscar for the best foreign film, defined in an anthological scene two types of idiots: the one who knows he is an idiot and is therefore harmless, and the one who thinks he is a genius and does nothing but generate problems. The truth is that we are all exposed to behaving like both kinds of idiots in many fields, as modern psychology has amply shown. This is the "Dunning-Kruger" effect, discovered by social psychologists David Dunning and Justin Kruger, which is defined as the inability to recognize our own ineptitude. It is a cognitive bias that means that…

The KICS Principle (Keep It Competitive Stupid): an antidote to the “myopia” that slows down competitiveness

Competitive Assessment

By Raul Peralba, Markentry USA Partner Introduction This article is an adaptation made by the author from the introduction of his book, of the same title, written with Ralph Whitestone. It is currently available in Spanish via Amazon and will be published in English soon. The aeronautical engineer Clarence “Kelly” Leonard Johnson was a true innovator in the aerospace industry. He worked for many years at Lockheed Martin Skunk Works (secret projects department) and was highly regarded for his organizational skills and for dealing with highly complex matters. One of his biggest skills was the ability to break problems down and simplify them so that everybody involved in his projects was very clear about it all. I.e.: he recommended simple and understandable developments which could only cause errors that were…

Tag: Competitiveness