EPRG framework: A firm having a presence in the global market has to decide the manner in which it will enter and operate there. Firms in the international. Different attitudes towards company’s involvement in international marketing process are called international marketing orientations. EPRG. EPRG Approach Aakash Kumar Gaurav Kataria Rahul Ujjainwal Ethnocentric Management orientation – Home country orientation.
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A regiocentric organization sees similarities and differences in a world region, and designs strategies around this. Ethnocentric companies that do conduct business outside the home country can be described as international companies, they adhere to the notion that the products that succeed in orientztion home country are superior and, therefore, can be sold everywhere without adaptation.
He states that businesses and their staff tend to operate in one of four ways:. The benefit of this mind set is that it overcomes the shortage of qualified managers in the anchoring nations by migrating them from home countries.
EPRG Orientation »
Firms Go International orientatiom to following reasons: In general, the desirability of a particular international orientation EPRG tends to depend on several factors which are as follows: If a return is submitted after the due date, the following consequences will be applicable: A firm which plans to go international has to take a series of st Not only is global trade is growing at healthy rate, but techniques of overseas marketing is also becoming more diversified and sophisticated.
Such companies are sometimes called domestic companies. Such companies are also sometimes referred to as domestic companies. The major advantages of this Type of orientation is that it entails minimum risk on the part of the firm.
Polycentric will prove idle for firms seriously committed to international marketing and have capacity to invest to the desired extent towards achieving their objectives.
The first step is to calculate the taxable income from each source under Marketing personnel are recruited from that region, regional channels of distribution are developed and policies in orinetation of other areas such as product, price and promotion have a regional orientation. Username or Email Password.
The major disadvantage of this nature is it can restrict career mobility for both local as well as foreign nationals, neglect headquarters of foreign subsidiaries and it can also bring down the chances of achieving synergy.
Each subsidiary operates independently of others and establishes its own marketing objectives and plans. The term ethnocentric orientation means that a company does not differentiate between domestic and foreign market The term multinational company is often used to describe such a structure.
EPRG – INTERNATIONAL MARKETING ORIENTATION – Priyanka Blog Thoughts
Often there are major differences between countries in a region. Orientation towards international operations by a company, which consider each market differ from other and hence applies different technique in different market. The suitability of EPRG orientation may differ not only from company to company but also from-j one marketing decision area to another within the same firm. For example, countries like Pakistan, India and Bangladesh are very similar.
A particular region with certain important common marketing characteristics is orientatino as a single market, ignoring national boundaries. Orientatjon main disadvantages are that national immigration policies may put limits to its implementation and it ends up expensive compared to polycentrism.
Each return form has two forms of acknowledgements attached to it. This assumption lays the groundwork for each subsidiary to develop its own unique business and marketing strategies in order to succeed, the term multinational company is often used to describe such a structure. These people or companies believe that the home country is superior. International Organization Decision is the last step involved in the More. International marketing is the multinational process of planning orientatioon executing the conception, For a manufacturing firm, ethnocentrism means foreign markets are viewed as a means of disposing of surplus domestic production.
This is because it does not need to send skilled managers out to maintain centralized eprv. These policies entail high cost. I hold a degree in MBA from well known management college in India. Besides these, it has other advantages such as the possibility of knowing the customer better and maximum degree of marketing orientation.
EPRG – INTERNATIONAL MARKETING ORIENTATION
Circumstance under which EPRG should be employed. Polycentric management means that the epgg office places little control on the activities in each market, and there is little attempt to make use of any good ideas or best practices from other markets. Pricing is established on a worldwide basis.
There are no changes in product specification, price and promotion measures between native market and overseas orentation. Plans for overseas markets are developed utilizing policies and procedures identical to those employed at home. Geocentric approach encourages global marketing. To overcome from this problem one should adopt EPRG Framework, which identifies four types of orientation towards internationalisation of business operations — Ethnocentrism Polycentrism Regiocentrism Geocentrism.
Once sufficient information is obtained about national market condition, target segment could be identified on a regional or global basis, and the appropriate strategies developed.