2 Flashcards
EPRG framework is a … and stands for …
Management orientation
Ethnocentric, ploycentric, regiocentric, and geocentric orientation.
“Home country is superior” & “What sucess in my country will succed in other countries” is examples of
Ethnocentric Orientation
“Each country is unique” is example of … and it often leads to …
Polycentric Orientation or multinational orientation
a localized or adaptation approach when entering a new market.
Regiocentric
A region is the relevant geographic unit.
Geocentric Orientation
Thinking the entire world is a potential market and strives for integrated global strategies. Leads to a combination of extension and adaptation elements. Aka. Leveraging adaptation when/where necessary. Most big copporations do this.
Important: Driving Forces Affecting Global Integration & Global Marketing
- Multilateral trade agreements
- Converging market needs and wants and the information revolution
- Transportation and communication improvements
- Product development costs
- Quality
- Trends around world
Important: Restraining Forces Affecting Global Integration and Global Marketing
- Market differences
- Management myopia
- Organizational culture
- National controls (NTB)
- Opposition to globalization
PESTEL stands for … and is one step in the …
Political, Economical, Societal, Techonological, Enviromental and legal
process of strategic response to changing enviroment.
Is the world globalized? -no
Globaloney is about how we think the world is more globalized than it is
Ethnocentric orientation’s failure is … and often leads to the use of …
it’s inability to acknowledge competition and possibilities in foreign market
Standardization
Polycentric orientation’s failure is … and often leads to the use of …
to recognize opportunities for economy of scale.
adaptation/localization.
