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 practices and policies of headquarters and of the operating company in the home country epfg the default standard to which all subsidiaries need to comply. 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 general attitude of a company’s senior management team is that nationals from the company’s native country are more capable to drive international activities forward as compared to non-native employees working at its subsidiaries. Orientation towards international operations by a company, which consider the whole world as one market and hence develops global strategies which are applied in domestic market also.
What is an EPRG Framework in International Marketing?
This approach is more successful in areas such as production and research than in marketing. A particular region with certain important common marketing characteristics is regarded as a single market, ignoring national boundaries.
The Online Merriam-Webster Dictionary. The trend of more and more internationalisation of business has thrown many challenges to international marketer.
International Marketing – EPRG Framework
This approach is especially suitable for countries with certain financial, political and cultural constraints. Instead, management selects the person best suited to foster the companies goals and solve problems worldwide. November Learn how and when to remove this template message.
A Niche Marketing is a small segment of market ignored or not properly served by large players. Polycentric management means that the head office places 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.
EPG model – Wikipedia
After completing my post graduation I thought epr start a website where I can share management related concepts with rest of the people. See full list of related question in M. What is accepted as a permissible way of treating employees in the United States, the home country, internatkonal not be acceptable to Chinese employees, in the host country.
Ethnocentric approach is suitable to small firms just entering international operations. 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.
Management intfrnational unable to have total control over the company in the host country because it is found that “local nationals have a better understanding and awareness of national market conditions, more so than home office personnel. Enter your new password here. Similarly, if a company focuses its attention on the Europe, company follows regiocentric approach.
It has been introduced by Howard V. Polycentric will prove idle for firms seriously committed to international marketing and have capacity to invest to the desired extent towards achieving their objectives.
The assessee will be liable for penal int Companies should evaluate all legs of the EPG model before implementing a strategy, eprv all companies differ in international strategy among industry and region.
The calculation of taxable income is done for the individual who is an Indian resident. This is because it does not need to send skilled managers out to maintain centralized policies. For a manufacturing firm, ethnocentrism means foreign markets are viewed as a means of disposing of surplus domestic production.
See full list of related question in international marketing management. Ethnocentric companies that do conduct business outside the home country can be described as international companies, they adhere to the notion that the products that succeed in the home country are superior and, therefore, can be sold everywhere without adaptation.
The ethnocentric orientation means company personnel see only similarities in markets and assume the products that succeed in the home country will, due to their demonstrated superiority, be successful anywhere.
Circumstance under which EPRG should be employed. 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. While there are many obstacles that will hinder a company’s ability to become geocentric, there are also a handful of forces which will drive them towards this.
The importance of the EPG model is mainly in the firm’s awareness and understanding of its specific focus.
Views Read Edit View history. The management of a company has to decide the type of orientation that a firm should give to its overseas marketing operations. 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.
Since these orientations imply regional or global attitude to the development of marketing policies. There is often ineffective planning due to poor feedback from the international subsidiaries.
A third force causing this movement is the abundance of growing world markets, occurring in areas such as income earning age population, rising GDP’s, and escalating disposable income in areas such as China and Korea.
Organizations that are designed with an ethnocentric focus will portray certain tendencies.