重新審視企業多元化市場進入模式－雀巢收購案及內部產品開發策略案例分析

Abstract

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Functional food, which refers to products that offer additional health benefits beyond basic nutrition, has experienced significant growth over the past decade. By 2030, the functional food market is projected to generate global revenues exceeding $500 billion (USD). This has prompted Consumer Packaged Goods (CPG) companies to expand their product ranges, focusing on both internal developments and acquisitions within the functional product category. Despite this rapid expansion, the market remains ambiguous, with unclear regulatory guidelines and boundaries. Drawing from the Resource Based-View (RBV) literature, specifically Lee and Lieberman''s (2010) study on corporate entry mode strategies, I raise the question of whether the existing theories can be applied similarly in this emergent and ambiguous functional food market. This study examines the success and failures of Nestlé''s market entry strategies, both through acquisitions and internal development, complemented by consumer surveys and expert interviews. My findings suggest that as opposed to producers'' view of the functional food market as an extension of the traditional food market (i.e., both functional and traditional foods are in the same domain), consumers perceive the functional food market as distinctive. Also, while Lee and Lieberman (2010) argue that acquisition is a preferred entry mode within the same business domain, I find that in the functional food market, which lacks consensus on its boundary between producers and customers, acquisitions are still the preferred entry mode but with a different rationale. This conclusion offers novel insight into RBV''s entry modes, which should be tailored to the specific market context.