中国和印度这种显著的经济复苏和未来的希望已经成为进入到这些市场的很多公司能生存和成功的关键。
400 of the Fortune 500 firms now operate in China (Fishman, 2005) while 220 of the top 500 operate in India (India Brand Equity Foundation, 2005). In 2005, China alone attracted about $1 billion per week in foreign direct investment. While firms in the earlier years primarily rushed into these countries for reasons such as acquiring resources, securing key supplies, accessing low-cost factors, and diversifying sources of supply (Vernon, Wells & Rangan, 1996) the rising incomes of the local populace is now resulting in market-seeking behavior.
The current study attempts to analyze the success and failure of firms entering the major emerging markets of China and India. It addresses the following research questions: What factors drive the success of entry into China and India? Is entry into China more or less successful than that into India? How do entry timing, mode, and size and country openness, risk affect success?
2. 进入成功的驱动力：——The Drivers of Entry Success:
Researchers have not yet developed a single coherent theory of the drivers of success or failure of entry in emerging markets. This section reviews the prior literature on international market entry to identify the drivers of success or failure to market entry. The interdisciplinary literature spans marketing, strategy, and international business (Root & Ahmed, 1979, Dunning, 1988, Zhao, Luo & Suh, 2004).
By using the terms firm to describe the entrant, host nation to describe China or India, home nation to describe the firm's country of origin and foreign nation to describe any other country that may be involved.
The factors that affect the success or failure of market entry can be grouped as follows:
Firm's (Entrants)-level factors such as the mode of entry.
Country-level factors of the host nation and home nation, such as country risk, and country openness.
Discussing how these factors might affect success or failure.
2.1 Modes of Entry:
The mode of entry is a fundamental decision a firm makes when it enters a new market because the choice of entry automatically constrains the marketing and production strategy of the firm. The mode of entry also affects how a firm faces the challenges of entering a new country and deploying new skills to successfully market its product (Gillespie, Jeannet and Hennessy, 2007). In an exhaustive survey of the different modes of market entry, Root (1994) identified 15 different forms of market entry. Following Root categorize them into the following five main classes, listed in order of increasing control:
Export - a firm's sales of goods/services produced in the home market and sold in the host nation through an entity in the host nation.
License and Franchise - A formal permission or right offered to a firm or agent located in a host nation to use a home firm's proprietary technology or other knowledge resources in return for payment.
Alliance - Agreement and collaboration between a firm in the home market with a firm located in a host nation to share activities in the host nation.
Joint Venture - Shared ownership of an entity located in a host nation by two partners-one located in the home nation and the other located in the host nation.
Wholly Owned Subsidiary - Complete ownership of an entity located in a host nation by a firm located in the home nation to manufacture or perform value addition or sell goods/services in the host nation.
A firm can choose any of the above entry modes or some combination of them to enter a host nation. The key attribute that distinguishes the different modes of entry is the degree of control it gives a firm over its key marketing resources (Anderson and Gatignon, 1986). At one end of the spectrum is export of goods, which has the lowest degree of control. Licenses, franchises, and various forms of
