Penetration of foreign markets through cooperation and joint ventures
Today many companies prefer to enter into partnerships, cooperation arrangements or joint ventures even in industrially advanced countries, and these are often the only ways for a permanent market presence in the East European socialist and in some of the developing countries. Cooperation may also contribute to the solution of some domestic production or procurement problems. Several surveys show that the most important motives inducing a company to seek cooperation are in the marketing field. Cooperation has become a marketing strategy, although a company may derive a number of other - not strictly marketing - benefits from cooperation. Once the strategic decision has been taken the tasks of formulating the cooperation objective, selecting the most suitable country and finding the partner must be solved. A number of institutions already exist for this purpose, but do not make up for the services that market research organisations can provide. Industrial cooperation is a fast growing new form of international economic relations. It is worth the attention of marketing experts, as the best methods for promoting cooperation are still being worked out.
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