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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Since not much investment is made in overseas operations so if loss may occur then firm can absorb shock without much difficulty. Enter your new password here. They possess a strong regional identity. 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. Ethnocentric approach is suitable to small firms just entering international operations.
Self-Assessment is a system under which the taxpayer is required to declare the basis of his assessment oriemtation. To overcome from this problem one should adopt EPRG Framework, which identifies four types of orientation towards internationalisation of business operations — Orientattion Polycentrism Orientatio Geocentrism.
A particular region with certain important common marketing characteristics is regarded as a single market, ignoring national boundaries.
These stages are discussed below. A firm which plans to go international has to take a series of st After completing my post graduation I thought to start a website where I can share management related concepts with rest of the people.
Local orientarion and techniques are best suited to deal with local market conditions. Overseas subsidiaries or offices in international markets are seen as less able and less important than the head office. A geocentric company develops standardized marketing mix, projecting a uniform image of the company and orientatino products for the global market. 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.
On the incomes they have earned themselves. It entails minimum risk on the part of the firm.
EPRG – INTERNATIONAL MARKETING ORIENTATION – Priyanka Blog Thoughts
The person who fills in the return should also complete the entries in the acknowledgement fo The basic assumption of this approach is that all human beings are alike. There are no changes in product specification, price and promotion measures between native market and overseas markets. This does not equate superiority with nationality. Circumstance under which EPRG should be employed. Sign up here or sign in with.
Such companies are also sometimes referred to as domestic companies. Each return form has two forms lrientation acknowledgements attached to it.
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. Orientation towards international operations by a company, which consider each market differ from other and hence applies different technique in different market. The major drawback of this mind set is that it results in cultural short-sightedness and does not promote the best and brightest in a firm.
Marketing personnel are recruited from that region, regional channels orientatkon distribution are developed and policies in respect of other areas such as product, price and promotion have a regional orientation.
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. In a company with regiocentric orientation, management views regions as unique and seeks to develop an integrated regional strategy.
For example, countries like Pakistan, India and Bangladesh are very similar. I hold a degree in MBA from well known management college in India. The main disadvantages are that national immigration policies may put limits to its implementation and it ends up expensive compared to polycentrism. This approach is more successful in areas such as production and research than in marketing. There are many ma In these companies, opportunities outside the home country are ignored.
Global channels of distribution are established and promotional policy is developed to project a uniform image of the firm, and its products. 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.