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Building an International Financial Services FirmHow Successful Firms Design and Execute Cross-Border Strategies$
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Markus Venzin

Print publication date: 2009

Print ISBN-13: 9780199535200

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199535200.001.0001

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When to enter? The timing and speed of market entry

When to enter? The timing and speed of market entry

Chapter:
(p.141) 6 When to enter? The timing and speed of market entry
Source:
Building an International Financial Services Firm
Author(s):

Markus Venzin

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199535200.003.0007

This chapter starts with a discussion on how financial services firms predict market development. The role of uncertainty and ambiguity, and tools that attempt to reduce them, are presented. It then considers early and late mover advantages, showing how firms that enter markets early try to protect their advantages through isolation mechanisms such as the creation of technological standards, the pre-emption of assets, and buyer switching costs. Late movers can take advantage of free riding, the early resolution of technological or market uncertainty, shifts in technology or customer needs, and incumbent inertia. The chapter concludes with a discussion of factors that typically lead to accelerated international expansion.

Keywords:   financial services firms, market development, market entry, international expansion

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