DefinePK

Abstract

Expanding into emerging economies presents both opportunities and risks for firms seeking global growth. Market entry strategies in these contexts require a systematic framework that balances local responsiveness, global competitiveness, and sustainable long-term performance. This review examines the theoretical and practical dimensions of market entry approaches, including joint ventures, strategic alliances, franchising, and wholly owned subsidiaries. It highlights the challenges of navigating institutional voids, regulatory uncertainty, cultural heterogeneity, and infrastructural constraints that characterize many emerging markets. Furthermore, the paper explores competitive benchmarking as a critical tool for assessing industry positioning, identifying best practices, and establishing performance metrics aligned with local conditions. Benchmarking frameworks are analyzed not only from the perspective of cost and efficiency but also through innovation, adaptability, and customer engagement. By synthesizing insights from international business, strategic management, and comparative economics literature, this review proposes an integrated Market Entry and Competitive Benchmarking Framework (MECBF). The framework emphasizes dynamic capabilities, stakeholder alignment, and knowledge transfer as drivers of sustainable competitiveness. The study concludes with policy and managerial implications, offering guidelines for firms to optimize their entry strategies and performance benchmarks in volatile yet high-growth environments, thereby bridging theoretical perspectives and practical applications in global business expansion.
Keywords: Market Entry Strategies, Competitive Benchmarking, Emerging Economies, Institutional Voids, Global Expansion, Strategic Management.