EPRG MODEL – THE MARKETER’S GUIDE ON STRATEGIC within the geographic region of the business Lack of International Experience. EPRG Approach Aakash Kumar Gaurav Kataria Rahul without major modifications in overseas market All foreign marketing operations conditions International marketing organized on country to country basis. EPRG framework in international marketingDr. Howard V. Perlmutter is a world authority on globalisation and pioneer on the internati.
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The calculation of taxable income is done for the individual who is an Indian resident.
What is an EPRG Framework in International Marketing?
The main difference of geocentrism compared to ethno- and polycentrism [ disambiguation needed ] is that it does not show a bias to either home or host country preferences but rather spotlights the significance of doing whatever it takes to better serve the organization.
Today in the era of globalization, this approach is not popular. The suitability of EPRG orientation may differ not only from internationa, to company but also from-j one marketing decision area to another within the same firm.
Ethnocentric attitudes can be seen in the organizations communication process. Steps Involved in the International Marketing Process. Interbational the incomes that they hav Firms Go International due to following reasons: The environment of each market is considered while bhsiness the marketing strategy.
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.
What is an EPRG Framework in International Marketing? –
It is a natural tendency for people to act ethnocentrically because it is what they feel comfortable with. Orientation towards international operations by a company, which recognises the common features in intwrnational belonging to a particular geographical region and hence applies the same strategy in all the countries in a particular region.
A firm which plans to go international has to take a series of st Global channels of distribution are established and promotional policy is developed to project a uniform image of the firm, and its products. The EPRG framework provides guidelines for the type of orientation a firm may have towards external marketing. For example, the standards in which the home country operates are going to be much different from how the host country operates.
It is the overall goal of geocentrism to form a collaborative network between headquarters and subsidiaries; this arrangement should entail a set of universal standards that can thus be used as a guideline when attacking key business decisions.
Many of the companies involving themselves in exporting and importing of various commodities. Ethnocentric approach will better suit small firms just entering international operations.
The person who fills in the return should also complete the entries in the acknowledgement fo November Learn how and when to internatioonal this template message. Plans for overseas markets are developed utilizing policies and procedures identical to those employed at home.
These stages are discussed below. In the present day When they look to new markets they rely on what they know and seek similarities with their own country. In this context, ethnocentrism is the view that a particular ethnic group’s system of beliefs and values is morally superior to all others. It is responsible for administering following direct taxation acts passe A regiocentric orientation views different regions as different markets.
The importance of the EPG model is mainly in the firm’s awareness and understanding of its specific focus. Irrespective of the nationality, the company tries to seek the best men and the problems are solved globally within the legal and political limits.
One of the most striking trend in business, in recent years, has been growing internationalisation of business. To overcome from this problem one should adopt EPRG Framework, which identifies four types of orientation towards internationalisation of business operations — Ethnocentrism Polycentrism Internafional Geocentrism.
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. At some companies, the ethnocentric orientation means that opportunities outside the home country are ignored.
This assumption eeprg 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.
EPRG – INTERNATIONAL MARKETING ORIENTATION
The business of the geocentric company is characterized by sufficiently distinctive national markets that the ethnocentric approach is unworkable, and where sprg importance of learning curve effects in marketing, production technology and management makes the polycentric philosophy substantially sub-optimal.
The sole goal of geocentrism is to globally unite both headquarters and subsidiaries. This develops an affiliated corporate culture and aids transfer core competences more easily.