Foreign market entry strategy as a key to the competitiveness of enterprises

Abstract

The study aimed to highlight the peculiarities of the formation and use of strategies for entering the foreign market by modern business entities, using enterprises in the agrarian sector of the economy as an example. The methods of economic and statistical analysis, including the Wilcoxon statistical method for comparing trends, as well as the scoring method, were used to process the data. The current study identified the peculiarities of the development of the agricultural sector in the European Union countries and Ukraine in particular, focusing on the main challenges and opportunities faced by agricultural enterprises in the context of globalisation. It was found that the development of the agricultural sector depends on access to resources, technological progress and appropriate state support. The importance of introducing innovations and attracting investments to increase the competitiveness of agricultural enterprises was emphasised. The main motives and strategies for their entry into foreign markets were outlined, including: product differentiation strategy, pricing strategy (cost leadership strategy), innovation strategy, expansion into new markets, branding strategy, sustainable development strategy, and localization strategy. The article analysed the agricultural sector of Ukraine and provides an overview of strategies for entering foreign markets of 15 Ukrainian agricultural enterprises, drawing attention to existing problems in infrastructure and logistics. The author substantiated the areas of improvement, including investments in modernization, development of logistics networks and improvement of product quality in accordance with international standards, which will help to increase their competitiveness in the global market. The obtained results emphasise the importance of an integrated approach, including product differentiation, price competition and innovation strategies to ensure the competitiveness of agricultural enterprises in the global market, as well as the need to adapt strategies to the specifics of local markets and sustainable development trends