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. Abstract. The aim of this paper is to present the fundamental ideas behind EPRG model. They are discussed with some illustrating examples. Moreover, some. ethnocentric polycentrism regiocentrism geocentrism ethnocentric domestic techniques and personnel are considered superior polycentrism local personnel .
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A particular region ffamework certain important common marketing characteristics is regarded as a single market, ignoring national boundaries.
Finally, it tries to balance both global integration and local responsiveness.
EPRG Framework – Management Study HQ
Geocentric approach encourages global marketing. 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. A person who assumes his or her home country is superior compared to the rest of the world is said to have an ethnocentric orientation. Such companies do not adapt their products to the needs and wants of other countries where they have operations. Indian firms will have to fast change tramework current orientation as otherwise they will be out of business.
When they look to new markets they rely on what they know and seek similarities with their own country. Global channels of distribution are established and promotional policy is developed to project a uniform image of the firm, and its products. Its reference country is still home country. In this approach a company finds economic, cultural or political similarities among regions in order to satisfy the similar needs of potential elrg. Sign up here or sign in with. It is responsible for administering following direct taxation acts passe These people or companies believe that the home country is superior.
International Marketing – EPRG Framework
It looks for customers in different markets. In general, the desirability of a particular international orientation EPRG tends to depend on several factors which are as follows: Here, the firm researches the markets, dprg customers and competition in the region and evolves competitive strategies.
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. 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. A careful reader will understand that the prime motivation for global marketing is global competition. Customers and economies today are reaching out to cost reducing global firms.
For the automobile firm, this homogenization involves providing safety belts which are legally requiredair bags for protecting the driver in a collusion and even converting the vehicle from left hand to right hand drive and from standard transmission to automatic transmission.
The person who fills in the return should also complete the entries in the acknowledgement fo Username or Email Password. An ethnocentric firm always looks for help from the home country government. Haven’t found the Essay You Want? This assumption lays the groundwork for each subsidiary to develop sprg own unique business and marketing strategies in order to succeed, the term multinational company framewok often used to describe such a structure.
Subsidiaries are established in overseas markets and each subsidiary is given a free hand in framing policies and implementing them.
It may homogenize the product for the EC. These stages are discussed below. International Organization Decision is the last step involved in the More. This usually results in the maximum degree of geographic decentralization as local managers are recognized as being psychologically close to markets, environments and customers.
It considers local markets, local government aspirations and competition to decide its market entry and marketing strategy.
What is meant by The EPRG framework in International Marketing? – تخصصات بيت.كوم
Manufacturing is still in the home country only. Besides, eorg that time it had not accepted anywhere in the world the idea of joint ventureship or minority role in a firm.
Global marketing now takes birth. 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. In these companies, opportunities outside the home country are ignored.
Firms Go International due to following reasons: Until recently multinational firms had looked at Asian, African, Latin American and other markets only from the point of view of selling their products and brands. Answer in international marketing management.
But in the s, Coke is different. It does not require much investment. Similarly, if a company focuses its attention on the Europe, company follows regiocentric approach. Geocentric G firms are those that consider the world as their home market.