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Analysis of Global Marketing Assignment

   

Added on  2021-06-18

6 Pages1408 Words93 Views
Running head: ANALYSIS OF GLOBAL MARKETING ANALYSIS OF GLOBAL MARKETING Name of the Student Name of the University Author Note

ANALYSIS OF GLOBAL MARKETING1Ethnocentric global marketingEthnocentrism is related to the process of conducting business on a domestic andinternational level. The concept of ethnocentrism can further alienate the organization fromthe consumers. The company needs to develop the strategy in such a manner so that it canbenefit from the implementation of ethnocentrism. The ethnocentric process of globalmarketing is based on the consumers who prefer the domestically manufactured productsmore than the international ones. The preference of these consumers can affect theinternational organizations to a large extent. This further helps the domestic organizations toavoid the competition that is given by the low-cost foreign organizations. The domesticorganizations are able to protect the market and the levels of competition are also low(Balabanis and Siamagka 2017). The ethnocentric domestic market can be exploited by theorganizations by increasing the tie-ups in the country with the help of effective promotionand advertising. The advertising campaigns were focussed towards the domestic market inwhich the organization has its operations. For example, Nissan is an organization which hasan ethnocentric orientation. Nissan Motors is a Japanese organization and the trucks that aredesigned by the company are largely based on the preferences of the market in Japan. Thetrucks were found to be difficult to use in many parts of the United States. The mainassumption of the company was that the preferences of the customers are same as that of thepeople in Japan (Zeugner-Roth, Žabkar and Diamantopoulos 2015). Geocentric global marketing Geocentric global marketing is done by those companies in which the management ismore concerned about looking into the opportunities on a global scale. The organization doesnot focus on the ways of conducting business in a particular country. Instead, the companytries to formulate ways by which it can conduct its business activities in any part of the world.

ANALYSIS OF GLOBAL MARKETING2The organization is able to achieve the global and the local objectives with the help of itsgeocentric approach. The subsidiaries of the organization also provide a unique contributionto the competitive advantage of the organization in the world (Kimiagari et al. 2015). Thegeocentric organizations also tend to hire people from different parts of the world anddiversity in evident in the operations of these organizations. For example, Colgate Palmoliveis an example of a geocentric organization and follows this approach in the hiring process ofthe company. The organization has its international operations for more than 50 years and theproducts have thereby become a household name in greater than 170 countries in which it hasits operations. The executives of the company work on a global level and belong to variouscountries. The meetings of the organization take place all over the world (Achim, Borlea andMare 2018). Polycentric global marketingPolycentric marketing is a type of global marketing according to which theorganizations attempt to increase their appeal for the services or products in multiplecountries. This type of global marketing takes place when the organization takes the decisionto expand its operations in the different countries of the world. The focus of the organizationthereby changes from the local sales to the building of an international market for theproducts. The international sales are considered to be the key part of the businessorganization which deserves independence. The polycentric global marketing approach canbe defined with the help of several factors. This approach takes place in different countriesand the presence of the organization in these different areas is important for the application ofthe polycentric marketing approach (Finka and Kluvánková 2015). The subsidiaries of thecompany ae equally responsible for the marketing approach that is conducted by the mainorganization. Polycentric marketing plays an important role in the global adaptability of thecompany. The subsidiaries of the business organizations need to take care of the local market

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