Strategies of Entering New Markets in Nepal

Abstract

This study examines the strategies of entering new markets in Nepal. Market penetration is the dependent variable. The independent variables are internationalization, export barriers, emerging markets, industrial policy, informal sector, and marketing mix. The primary source of data is used to assess the opinions of 153 respondents regarding the strategies for entering new markets in Nepal. To achieve the purpose of the study, a structured questionnaire was prepared. The correlation coefficients and regression models are estimated to test the different effects of strategies of entering new markets in Nepal on market penetration. The results show that internationalization has a positive impact on market penetration. It indicates that increase in internationalization leads to increase in market penetration. Similarly, export barriers has a positive impact on market penetration. It shows that increase in export barriers leads to increase in market penetration. Likewise, emerging market has a positive impact on market penetration. It means that higher the emerging markets, higher would be the market penetration. Further, industrial policy has also positive impact on market penetration. It demonstrates that better industrial policy, higher would be the market penetration. Moreover, informal sector has a positive impact on market penetration. It indicates that higher the informal sector, higher would be the market penetration. Additionally, the marketing mix has a positive impact on market penetration. It indicates that the effective marketing mix, higher would be the market penetration.