工业品营销英文版lecture-04.pdfVIP

Unit-1 Lesson-4 Importance of Infrastructure Development The development of the infrastructure is important to growing economy, primarily, because it provides essential services. But the development of the infrastructure can also do much to stimulate economic growth. The employment generated by major projects in this area creates new markets for manufactured goods. Work on infrastructure projects has a training value; workers are introduced to industrial employment and are, thereby, prepared to work in production industries. Thus, major infrastructure projects assist a developing economy by providing work for the unemployed. New wealth is created in the form of capital goods-one of the greatest needs of a developing country. Joint Venture With economic liberalization, came a spate of joint ventures and collaboration. There are three distinct phases in the lifetime of a Joint Venture-an exploratory period when the partners explore their form of a marketing arrangement, a technology transfer deal and a licensing arrangement. Once the decision of financial participation has been taken, the Joint Venture enters its first phase. The transnational secures quick entry into a foreign market, sometimes even adding strong local brands to its portfolio, and amasses knowledge about the market, the business environment, the regulatory framework, the cultural nuances, and the necessary skills. On this part, the Indian partner gains, technology, contemporary management practices, and perhaps most important protection from another competitors through the alliance with a powerful, financially strong global player. The second phase begins when these companies start plateauing. When, market penetration is complete