EPRG MODEL IN INTERNATIONAL BUSINESS PDF

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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A regiocentric organization sees similarities and differences in a world region, and designs strategies around this. The polycentric orientation is the opposite of ethnocentrism. In nusiness approach a company finds economic, cultural or political similarities among regions in order to satisfy the similar needs of potential consumers. These policies entail high cost. Besides these, it has other advantages such internatioal the possibility of knowing the customer better and maximum degree of marketing orientation.

Subsidiaries are established in overseas markets and each subsidiary is given a free hand in framing policies and implementing them.

Polycentric management means that the head office moel 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. It has been introduced by Howard V. There are many costs that ethnocentrism can incur on an international organization.

In this case, it would be important for a firm to re-align its focus in order to ensure that it is correctly representing businexs firm’s focus. The EPRG framework provides guidelines for the type of orientation a firm may have towards external marketing.

See full list of related question in international marketing management. There are no changes in product specification, price and promotion measures between native market and overseas markets.

What is an EPRG Framework in International Marketing?

Circumstance under which EPRG should be employed. 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 intednational striking trend in business, in recent years, has been growing internationalisation of business. This page was last edited on 10 Novemberat It entails minimum risk on the part of the firm.

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Because a strategy based mainly on one of the three elements can mean significantly different costs or benefits to the firm, it is necessary for a firm ingernational carefully analyze how their firm is oriented inteenational make appropriate decisions moving forward.

These stages are discussed below. The assessee will be liable for penal int 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 a manufacturing firm, ethnocentrism means foreign markets are viewed as a means of disposing of surplus domestic production. For instance, there is the loss of national sovereignty when one nation is dominated by another — this can lead to a loss in economic and political nationalism.

Each return form has two forms of acknowledgements attached to it. Even if consumer needs or wants in international markets differ from those in the home country, those differences are ignored at headquarters.

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International Marketing EPRG Framework

Since this bussiness implies global attitude to the development of marketing policies, it provides for improved coordination and control. The sole goal of geocentrism is to globally unite both headquarters and subsidiaries. Global channels of distribution are established and promotional policy is developed to project a uniform image of the firm, and its products.

The Online Merriam-Webster Dictionary. The third and last aspect of the EPG model is the geocentric portion, this notion focuses on a more world-orientated approach to multinational management. The trend of more and more internationalisation of business has thrown many challenges to international marketer.

Such companies do not adapt their products to the needs and wants of other countries where they have operations.

What is an EPRG Framework in International Marketing? –

International Organization Decision is the last step involved in the More. The first drawback of a polycentric approach is that the “benefits of global coordination between subsidiaries such as the development of economies of scale cannot be realized. A firm buslness plans to go international has to take a series of st In the present day Such companies are sometimes called domestic companies. I am a mother of a lovely kid, and moedl avid fan technology, computing and management related topics.

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This perception mitigates the chance of cultural myopia and is often less expensive to execute when compared to ethnocentricity. What is accepted as a permissible way of treating employees in the United States, the home country, may not be acceptable to Chinese employees, in the host country.

Using the centralized approach can cause inefficient staffing problems in the organization, this is because the employed staff will incur high financial costs to the global business as they have to pay for the transfer costs of the staff coming from the home country to overseas.

There are a few other drawbacks to the polycentric approach which may restrict a multinational company from completely realizing its full potential in the host country. Thus, ensuring efficient use of human resources by building strong culture and informal management channels.

From Wikipedia, the free encyclopedia. Sign up here or sign in with. On the incomes they have earned themselves. A regiocentric orientation views different regions as different markets.

It is a natural tendency for people to act ethnocentrically because eeprg is what they feel comfortable with. In a company with regiocentric orientation, management views regions as unique and seeks to develop an integrated regional strategy. 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.

The benefit of this mind set bysiness that it overcomes the shortage of qualified managers in the anchoring nations by migrating them from home countries. In contrast, polycentric organizations or managers see each country as unique, and consider that businesses are best run locally.