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KingKing and Entrepreneurship in China - Assignment Example

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1. KingKing is a successful candle manufacturer located in China. The US marketplace represents a tremendous opportunity for the company due to the fact that 50% of the $10 billion candle industry is generated in the United States. The company needs to find ways to better penetrate the US market…
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KingKing and Entrepreneurship in China
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KingKing and Entrepreneurship in China

Download file to see previous pages... The only major retailer the firm has targeted is Wal-Mart. KingKing could increase its revenues if it expands its portfolio of major clients to include companies such as Target, Sears, and K-Mart. The third strategy the company can use to expand its US sales is to sell directly to the customers utilizing a web store. In 2010 the size of the US e-commerce marketplace was $153 billion (Plunkett Research). 2. The acquisition of a US manufacturer is a market entry strategy that could help KingKing penetrate the US marketplace. In order to minimize cost the firm should target small to medium size candle manufacturer. In the United States there are over 1,600 candle manufacturers (Manta). Three potential acquisition targets are A&A Custom Illumntns Inc., Abby Candles Inc., and A&B Reminiscents. 3. Another way for the company to penetrate the US marketplace is by opening up its own stores in the United States. This solution is only viable if the company has sufficient variety of products to justify opening up a store. The case study does not provide sufficient information to determine if the firm has sufficient variety of products. There are very few stores in the US dedicated only to selling candles. The solution of opening up a store might not be viable. ...Download file to see next pagesRead More
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