...to learn from new market’s culture. How is the new market? How are the new customers? You’re learning from the experience and introduce it into your products. 1. Willingness to learn: what different things did they (Natura) learn in the new market? Did they introduce new products? Did they hire local employees? Did they provide some sort of different systems for the customers to buy their products? So what is the different system that they have changed? If they changed, give examples. 2. High level of energy and commitment: You remember we have talked about some markets that need more work to be done because they are not developed yet, they’re under developed. So what do you do? You provide more resources in there, you look after the market in order to mature the market. So give example, something like, when they (Natura) enter Russia market, how they commit to that market? Are they trying to provide extra credits to the manufacturers, or wholesalers in the market? Are they try to give extra offers to the customers? That’s commitment. 3. Control and effective monitoring: Have they decentralized their control in new markets? Or they centralize their control? Sort of control: how much they centralize/decentralized their control? What sort of activities they centralize or decentralize? First part of Task 1 can be breakdown into 3-4 paragraphs to talk about these 3-4 different things with examples to each of them. ...
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...ECOFORUM [Volume 3, Issue 2 (5), 2014] WHAT DO WE KNOW FROM EPRG MODEL? Krzysztof DRACHAL Warsaw University of Technology, Poland k.drachal@mini.pw.edu.pl Abstract The aim of this paper is to present the fundamental ideas behind EPRG model. They are discussed with some illustrating examples. Moreover, some attention is drawn on the evolution from one orientation to another. In particular, the geocentric orientation is widely discussed. General Electric is studied in more details as a particular case of the geocentric orientation. Finally, some non-market dissertations are presented, on how geocentrism can evolve and some threats to the public interest are sketched. Key words: corporations; EPRG model; General Electric; geocentrism; internationalization. JEL Classification: F23, F60, L20, M14, M30 I. INTRODUCTION EPRG model, sometimes called also EPG model, is used in the international marketing. It was introduced by Perlmutter (1969). The strategy of the organization is characterized by three factors: ethnocentrism, polycentrism and geocentrism. Hence, the original name - EPG. A little later, Wind, Douglas and Perlmutter (1973) extended this model by another factor - regiocentrism. The extended model is known as EPRG model, in short. This model aims to identify the orientation of the organization. The strategy can be differently oriented, indeed. As a result, costs and profits are generated in slightly different ways, depending on the mentioned kind...
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...activities to cope with different levels of operational responsibilities inherent in such involvement. To throw some light on the issue, some guidelines are available from what is called EPRG orientation. The EPRG framework attempts, four broad types of orientation of a firm towards foreign marketing. This paper aims to suggest a model to assist when deciding which foreign investor to select. In much of the current literature on the problem faced by the small transitional countries/companies, globalization by foreign transnational companies (TNCs) is considered to be the generic expansion strategy. The question is, however, which foreign investor to select. The paper evaluates the potentials of the EPRG scheme (Ethnocentrism, Polycentrism, Regiocentrism, and Geocentrism) in choosing foreign investor. It enables company to analyze and predict its competitors' behavior. (Biljana Crnjak-Karanovič). The Ethnocentric, Polycentric, Regiocentric, and Geocentric Framework (EPRG) dates back to Perlmuter (1969) and his associates Wind and Douglas (1973). The EPRG framework identifies four management approaches or orientations of the company while internationalization process is taking place. The framework is based on the assumption that the level of a company’s involvement in the international business gradually evolves. EPRG orientations describe an exporter's process of evolution and internalization. Companies begin by being Ethnocentric, i.e., they emphasize...
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...Branding review Definition of marketing: A societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others; Marketing myopia: The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products; Market offering: Some combination of products, services, information, or experiences offered to a market to satisfy a need or want; Social marketing concept: society (human welfare); consumers (want satisfaction); company (profit); Positioning: The offering is positioned in the mind of target buyers as delivering the value/benefits; Market segment: Different people have different wants to satisfy their needs Segmentation: The way marketers divide the market into different pieces Satisfaction: Comparative judgment between the actual performance or outcome and the expectation; Supply chain: from the raw material to buyers, including marketing channels; Marketing process model: market environment analysis→fixing marketing target →setting marketing strategy →marketing mix →marketing controlling Marketing Management is the art and science of choosing target markets and building profitable relationships with the consumers; Driven Marketing Strategy: select customers to serve; marketing management orientation; [pic] How to capture value from customers? • Create customer loyalty and retention; ...
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...ASSIGNMENT OF CROSS CULTURAL MANAGEMENT SUBMITTED TO:- Dr.(cdr) SATISH SETH SIR SUBMITTED BY:- VENKATESH KUMAR PGDM 6-A ROLL NO-60 Q1. What is meant by the term culture? In what way can measuring attitudes about the following help to differentiate between cultures: centralized or decentralized decision making, safety or risk, individual or group rewards, high or low organizational loyalty, cooperation or competition? Use these attitudes to compare the United States, Germany, and Japan. Based on your comparisons, what conclusions can you draw regarding the impact of culture on behavior? Ans:- culture is defined as the shared patterns of behaviors and interactions, cognitive constructs, and affective understanding that are learned through a process of socialization. Culture is the acquired knowledge that people use to interpret experience and generate social behavior. This knowledge forms values, creates attitudes, and influences behavior (Hodges, 2005). Centralized versus decentralized cultures are different in which the top managers or leaders make all the important decisions in a centralized culture and in a decentralized culture, the decisions are made throughout the levels. Safety and risk in some cultures are frowned upon because the...
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...Chapter 1: Global marketing in the firm I. Introduction to globalization Globalization: reflects the trend of firms buying, developing producing and selling products and service in most countries and regions of the world. Benefits for the firm which do an international expansion: * New and potentially more profitable markets * Increase the firm’s competitiveness * Facilitates access to new product ideas, manufacturing innovations and the latest technology Internalization: doing business in many country of the world, but often limited to a certain region (ex: Europe). A. Industry globalism The strategic behaviour of firms depends on the international competitive structure within in industry. In the case of high degree of industry globalism, there are many interdependencies between markets, customers and suppliers, and the industry is dominated by a few large powerful players (global). Example of global industries: PCs, IT, records, movies and aircrafts. The other land (local) represents a multidomestic market environment, where markets exist independently from one other. Example of local industries: hairdressing, foods and dairies. B. Preparedness for internationalization The degree of preparedness is dependent on the firm’s ability to carry out strategies in the international marketplace and the actual skills in international business operations. The well-prepared company has a good basis for dominating the international markets and consequently...
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...internationalizing the value chain. International expansion: - provides new & potentially more profitable markets; - helps to increase the firm’s competiveness; - facilitates access to new product ideas, manufacturing innovations & the latest technology. !!Solberg: In order to expand to the int markets, firms should improve their position on the local market (strategy 1). If the firm finds itself immature in a global industry - the firm should seek ways to increase its net worth to attract partners for a future buyout bid (strategy 7). Global marketing consists of: * finding & satisfying global customer needs better than the competition; * coordinating marketing activities within the global environment. EPRG framework (the worldview of a firm’s business activities): * Ethnocentric: home country is a superior, the needs of home country are most relevant. * Polycentric (multidomestic): each country is unique and therefore each country should be targeted in a different way. * Regiocentric: the firm tries to standardize its marketing program within regions, but not across them. * Geocentric (global): the firm may offer global product concepts but with local adaptation (‘think global, act local’). Global marketing – the firm’s commitment to coordinate its marketing activities across national boundaries in order to find & satisfy global customer needs better...
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...International Marketing Week 2 Tutorial 1: Introduction to Global Marketing SECTION A: Coursework Briefing SECTION B: Discussion Questions 1. What are the basic goals of marketing? Are these goals relevant to global marketing? 2. What is meant by “global localization?” Is Coca-Cola a global product? Explain. 3. Describe some of the global marketing strategies available to companies. Give examples of McDonald that use the different strategies. 4. Describe the difference between ethnocentric, polycentric, regiocentric, and geocentric management orientations. 5. Define leverage and explain the different types of leverage utilized by companies with global operations. 6. What is “global marketing” and how does it differ from “regular marketing?” Giving examples of at least one major corporation explain these differences. SECTION C: CASE STUDY CASE 1-3: Acer Inc (page 57) 1. How did the “global markets-local markets” paradox figure into Shih’s strategy for China? 2. Can Acer become the world’s third largest PC company, behind Dell and Hewlett-Packard? 3. Growth in the U.S. PC market has started to slow down. Despite strong competition from Dell and Hewlett-Packard, Acer’s U.S. market share increased form 1 percent in 2004 to 3.3 percent by the end of 2006. What are Acer’s prospects for gaining further share in the United States? ABDT 3213 – International Marketing Week 3 Tutorial 2: The Global...
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...Confirming Pages CONTENTS PREFACE xv PART 1 CHAPTER 1 GLOBAL MARKETING ENVIRONMENTS 1 Understanding Global Markets and Marketing 2 markets are becoming global 2 globalization: the world is becoming smaller 3 globalization and global marketing 4 Globalization: Opportunity or Threat? The Global Marketing Approach 6 6 global marketing and global markets 7 the cage distance framework 7 domestic and global marketing compared 8 Geographic or Spatial Distance 10 Psychic/Cultural Distance 12 The EPRG Framework 13 Developing Global Marketing Strategy 14 The Standardization versus Localization–Adaptation School 14 Levitt and the Globalization of Marketing 16 Standardization versus Mass Customization 17 Managing the Firm’s Value Chain 18 Global Value Chain Configuration 19 Integrating the Firm’s Competitive Strategy 20 Global Competition 20 a global marketing management framework Global Marketing Performance 22 Global Vision—The World Is My Oyster CASE 1-1 CASE 1-2 CHAPTER 2 21 23 A Tortuous Road Ahead for Proton of Malaysia 26 Dabur—Developing Values in an Emerging Economy Through Value Chain and Product Line 31 Assessing the Global Marketing Environment—The Global Economy and Technology 36 the global economy 37 Economic Growth and World Trade 37 Who Are the United States’ Major Customers? 38 High Tech Products Lead World Trade 40 Characteristics of High Technology Markets 42 Technology and Global...
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...CHAPTER 1 : PREFACE 1.1 Background According to (Kampard, 1999) It all started in 1920, when 5 years old Ingvar Kampard starts selling matches to his nearby neighbors and by the time he was seven, he starts selling further afield, using his bicycle. He finds that he can buy matches in bulk for a cheap price in Stockholm and re-sell them individually at a very low price, but still make a good profit. From matches he expands to selling greeting cards, flower seeds, Christmas tree decorations, and later pencils and ball-point pens. When he was 17, his father gives him money as a reward for finishing his studies. The name “IKEA” itself derived from his name (the word “I”), the first letter of the village he grew up, Elmytard (the letter “E”), and Agunnaryd, his hometown in Småland, south Sweden. Ingvar’s strategy was to sell his wares in a reduced price. Since then, IKEA grows more rapidly in the following years. From rural area in North Sweden, IKEA grows as one of the most-renown furniture company in the world. Ingvar released his first advertisement in 1945 when his business outgrows even his own ability to make individual sales calls. In 1948 was a significant year for IKEA. In this year, Ingvard introduced the first furniture in his product range. Unbeknownst to him, the furniture business will be the hallmark of IKEA. The first furniture showroom opens in Älmhult, IKEA to prove its superiority against its competitor who sells low-price products. In the site that...
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...International Marketing assignment 1 Christian Dior Galway Business School Monday, November 25th Alexandra Dervaux Table of contents 1.Introducing the corporation . o Reasons to internationalise o Models of inernationalisation 2.Analyse the environment o Christian Dior in China PESTEL analysis o Christian Dior SWOT analysis 3.Marketing research 4.Entry modes 5.References Christian Dior 1. Introducing the corportation Christian Dior SA is one of the most important company in the luxury indutry .It is a french holding wich control several subsidiaries composed by the « haute couture » brand named Christian Dior couture (100% owned by the company ) , LVMH SA (40% owned by the company ). The holding business principal activities are : -‐Clothes -‐Wine and spirits -‐Fashion and leather good -‐Perfumes and cosmetics -‐Watched and sunglasses -‐Fine jewellery ...
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...Human Resource Development International ISSN: 1367-8868 (Print) 1469-8374 (Online) Journal homepage: http://www.tandfonline.com/loi/rhrd20 Connection, value, and growth: how employees with different national identities experience a geocentric organizational culture of a global corporation Maria S. Plakhotnik, Tonette S. Rocco, Joshua C. Collins & Hilary Landorf To cite this article: Maria S. Plakhotnik, Tonette S. Rocco, Joshua C. Collins & Hilary Landorf (2015) Connection, value, and growth: how employees with different national identities experience a geocentric organizational culture of a global corporation, Human Resource Development International, 18:1, 39-57, DOI: 10.1080/13678868.2014.979009 To link to this article: http://dx.doi.org/10.1080/13678868.2014.979009 Published online: 11 Dec 2014. Submit your article to this journal Article views: 288 View related articles View Crossmark data Full Terms & Conditions of access and use can be found at http://www.tandfonline.com/action/journalInformation?journalCode=rhrd20 Download by: [University of Exeter] Date: 12 December 2015, At: 14:41 Human Resource Development International, 2015 Vol. 18, No. 1, 39–57, http://dx.doi.org/10.1080/13678868.2014.979009 Connection, value, and growth: how employees with different national identities experience a geocentric organizational culture of a global corporation Maria S. Plakhotnika, Tonette S. Roccob*, Joshua C. Collinsb and Hilary Landorf...
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...18/05/2009 TropExo | Ifruitrop International Marketing plan. Focus on TropExo [New Branch in UK] the document title] | Name : Veronica Maria Bento.Student Number : 047069350.Module : International Marketing.Course : International Business Management.Word count : 4400. | Table of Contents 1. Introduction. 3 2. Market Choice. 4 3. Objectives. 5 4. Environment. 6 5. SWOT Analysis. 9 6. Consumer target: Segmentation and positioning. 10 7. The market and competitors. 10 8. Market Entry Strategy. 11 9. The product. 14 10. The Price. 16 11. Channel of distribution. 17 12. Promotion. 17 13. Implementation / Future 18 14. References: 19 Additional reading: 20 15. Appendix. 21 Introduction. For the last several decades, Ifruitrop, based in Ivory Coast, has been a producer and exporter of tropical fruits. Using the effect of globalisation of taste and evolution of technologies, it exported its products in European and Middle Eastern markets. Until now it used an indirect channel of export, e.g. a middle man in foreign countries. However, it recently decided to internationalise through new channels. The stimulus to change the company’s strategy came from its CEO, who has found new opportunities in the European market. In addition, the home market is saturated and the company is reaching excess capacity, which cannot be sold through usual export channels nor on the home market. To assess whether or not they should “stay at home”...
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...Global Marketing, 6e (Keegan/Green) Chapter 1 Introduction to Global Marketing 1) A management team that fails to understand the importance of global marketing risks losing its domestic business to competitors with lower costs, more experience, and better products. Answer: TRUE Diff: 1 Page Ref: 4 AACSB: Reflective Thinking 2) As Wal-Mart expands into Guatemala and Central American countries, it is implementing a market development strategy. Answer: TRUE Diff: 1 Page Ref: 4 AACSB: Reflective Thinking 3) Global marketing may take the form of diversification strategy in which a company creates new products or services for the domestic market. Answer: FALSE Diff: 2 Page Ref: 4 AACSB: Reflective Thinking 4) The perceived value equation can be represented as Value = Price/Benefits. Answer: FALSE Diff: 2 Page Ref: 5 AACSB: Analytic Skills 5) Recently the auto industry is shifting its attention to emerging markets such as India and Africa. Answer: TRUE Diff: 1 Page Ref: 5 AACSB: Reflective Thinking 6) Globalization is presenting significant marketing opportunities for professional sports organizations such as the National Football League and Major League Soccer. Answer: TRUE Diff: 1 Page Ref: 6 AACSB: Reflective Thinking 7) If Nestlé decides not to market biscuits (cookies) in the United States due to competitive reasons, it is considered as a lack of strategic focus and missed opportunity. Answer: FALSE Diff: 2 Page Ref: 7 AACSB:...
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...Global Marketing, 6e (Keegan/Green) Chapter 1 Introduction to Global Marketing 1) A management team that fails to understand the importance of global marketing risks losing its domestic business to competitors with lower costs, more experience, and better products. Answer: TRUE Diff: 1 Page Ref: 4 AACSB: Reflective Thinking 2) As Wal-Mart expands into Guatemala and Central American countries, it is implementing a market development strategy. Answer: TRUE Diff: 1 Page Ref: 4 AACSB: Reflective Thinking 3) Global marketing may take the form of diversification strategy in which a company creates new products or services for the domestic market. Answer: FALSE Diff: 2 Page Ref: 4 AACSB: Reflective Thinking 4) The perceived value equation can be represented as Value = Price/Benefits. Answer: FALSE Diff: 2 Page Ref: 5 AACSB: Analytic Skills 5) Recently the auto industry is shifting its attention to emerging markets such as India and Africa. Answer: TRUE Diff: 1 Page Ref: 5 AACSB: Reflective Thinking 6) Globalization is presenting significant marketing opportunities for professional sports organizations such as the National Football League and Major League Soccer. Answer: TRUE Diff: 1 Page Ref: 6 AACSB: Reflective Thinking 7) If Nestlé decides not to market biscuits (cookies) in the United States due to competitive reasons, it is considered as a lack of strategic focus and missed opportunity. Answer: FALSE Diff: 2 Page Ref: 7 AACSB:...
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