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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This approach is especially suitable for countries with certain financial, political and cultural constraints.

Therefore, knowledge that could be beneficial across all regions is lost, and subsidiaries could be worse off than if they had obtained the knowledge.

Instead, management selects the person best suited to foster the companies goals and solve problems worldwide. It has been introduced by Howard V. Similarly, if a company focuses its attention on the Europe, company follows regiocentric approach. 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 They iternational a strong regional identity. Self-Assessment is a system under which the taxpayer is required to declare the basis of his assessment e.

It must be understood that there is limited control or communication between the home and host-country, and products and distribution may vary across countries. The Online Merriam-Webster Dictionary. This develops an affiliated corporate culture and mdoel transfer core competences more easily. A polycentric approach “gives rise to the problems of coordination and control.

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EPRG Framework

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. This ideology is a great example of how today’s internatlonal must manage both global and local issues in order to succeed in the end.

On the incomes that they hav 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 omdel.

For example, Norway and Spain are both in Europe, but are very different in climate, culture, transport, retail distribution, and so on.

EPG model – Wikipedia

See all related question in M. These people or companies believe that the home country is superior. Often there are major differences between countries in a region. The trend of more and more internationalisation of husiness has thrown many challenges to international marketer.

A regiocentric orientation views different regions as different markets. Local personnel and techniques are best suited to deal with local market conditions.

EPRG – INTERNATIONAL MARKETING ORIENTATION

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.

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In this case, it would be important for a firm to re-align its focus in order to ensure that it is correctly representing the firm’s focus. See full list of related question in M. Each subsidiary operates independently of others and establishes its own marketing objectives and plans. The major disadvantage of this nature is it can restrict career mobility for both local as well as foreign nationals, neglect headquarters of foreign subsidiaries and it can also bring down the chances of achieving synergy.

The case of European Silicon Structures illustrates the practice of geocentric organizations. The term ethnocentric orientation means that a company does not differentiate between domestic and foreign market 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.

There is often ineffective planning due to poor feedback from the international subsidiaries. This is because it does not need to send skilled managers out to maintain centralized policies. Irrespective of the nationality, the company tries to seek the best men and the problems are solved globally within the legal and political internationzl.

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