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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Irrespective of the nationality, the company tries to seek the best men and the problems are solved globally within the legal and political limits. This usually results in the maximum degree of geographic decentralization as local managers are recognized as being psychologically close to markets, environments and customers.
International Organization Decision is the last step involved in the More. Such companies are also sometimes referred to as domestic companies. The management of a company has to decide the type of orientation that a firm should give to its overseas marketing operations.
The major advantage of this type of orientation is that it will be the most effective way of motivating the management, since the management in each country is given a free hand in framing policies and implementing them. This framework addresses the way strategic decisions are made and how the relationship between headquarters and its subsidiaries is shaped. A regiocentric orientation views different regions as different markets.
See full list of related question in international marketing management. wprg
This perception mitigates the chance of cultural myopia and is often less expensive to execute when compared to ethnocentricity. International marketing is no longer remain only to the traditional technique of producing goods in one country and export to other countries, it includes movement of all factors of production, such as Raw materials, human skills, finance, machinery, technology etc.
Ethnocentric approach will better suit small firms just entering international operations. See full list of related question in M. In contrast, polycentric organizations or managers see each country as unique, and consider that businesses are best run locally.
The business of the geocentric company is characterized by sufficiently distinctive national markets that the ethnocentric approach is unworkable, and where the importance of learning curve effects in marketing, production technology and management makes the polycentric philosophy substantially sub-optimal.
Steps Involved in the International Marketing Process. Advance Tax refers to paying a part of your taxes before the end of the financial year. The EPRG framework provides guidelines for the type of orientation a firm may have towards external marketing. This approach is especially suitable for countries with certain financial, political and cultural constraints.
Plans for overseas markets are developed utilizing policies and procedures identical to those employed at home. He states that businesses and their staff tend to orintation in one of four ways:. Each return form has two forms of acknowledgements attached to it. This approach is more successful in areas such orientahion production and research than in marketing.
Today in the era of globalization, this approach is not popular. The person who fills in the return should also complete the entries in the acknowledgement fo A regiocentric organization sees similarities and differences in a world region, and designs strategies around this.
Since these orientations imply regional or global attitude to the development of marketing policies. Epfg orientations reflect the objectives of a company towards international operations and to lead to different management strategies and planning procedures. Since this orientation implies global attitude to the development of marketing policies, it provides for improved coordination and control.
When company is small and is not in position to invest heavily in overseas operations, it is better for it to identify countries which have characteristic orientatikn those of home country and export to them. Many of the companies involving themselves in exporting and importing of various commodities. If a return is submitted after the due date, the following consequences will be applicable: Since not much investment is made in overseas operations so if loss may occur then firm can absorb shock without much difficulty.
They provide for improved coordination and control. Geocentric companies, as truly ogientation players, view the world as a potential market, and seek to serve this effectively.
Polycentric will prove idle for firms seriously committed to international marketing and have capacity to invest to the desired extent towards achieving their objectives.
Even if consumer needs or wants in international markets differ from those in the home country, those differences are ignored at headquarters. Geocentric approach may prove more successful in areas such as production and research than in marketing.
The practices and policies of headquarters and of the operating company in the home country become the default standard to which all subsidiaries need to comply.
A geocentric company develops standardized marketing mix, projecting a uniform image of the company and its products for the global market. 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.
Com ma economics ma education ma history ma political science ma psychology ma public administration master degree programs vocational courses. For example, Norway and Spain are both in Europe, but are very different in climate, culture, transport, retail distribution, and so on.
Besides these, it has other advantages such as the possibility of knowing the customer better and maximum degree of marketing orientation. It entails minimum risk on the part of the firm. One of the most striking trend in business, in recent years, has been growing internationalisation of business. Such companies do not adapt their products to the needs and wants of other countries where they have operations.