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Seminar is9 putting the managerial philosophies to the test post student
1. Industry Studies 1
Seminar:
Putting the managerial philosophies to
the test
Topic Number: 9
2. Overview
The way strategy is developed and implemented
globally is very dependent on the type of managerial
philosophy that is adopted.
In this seminar, we will put this to the test through the
development of a marketing strategy using each of
the philosophies. There are 3 core managerial
philosophies we will look at; ethnocentric, polycentric
and geocentric.
We will evaluate how the execution of the campaign
would be entirely different depending on each of the
managerial philosophies adopted.
3. 3
Learning outcomes of this seminar
• Be able to apply each of the 3 managerial
philosophies in a live environment
• Determine the strengths and weaknesses of each
of the approaches
• Critically evaluate the appropriateness and
effectiveness of each in different scenarios
• Demonstrate an ability to present and critique
key arguments amongst your peers
4. 4
The Task
Consider you work for the Coca-Cola
Company
headquartered in the USA. You are a
marketing manager that is
responsible for implementing a global
marketing campaign for the latest
energy soft drink into the Middle
East.
Each group is tasked with choosing a
different managerial philosophy. Your
task is to evaluate the
implementation of adopting the
philosophy on the marketing mix
(4Ps). In addition, discuss the
implications and consequences of the
approach for the company as a
whole.
5. Structure for the session
You will have
30 minutes to
discuss the
implications
We will have a
debrief at the
end of each 15
minutes to hear
your thoughts
on each area
Feel free to ask
questions but
please do not
have separate
conversations
‘we are all in
this together’!
7. An Ethnocentric Approach
Ethnocentrism is judging another culture
solely by the values and standards of one's
own culture.
Ethnocentric individuals judge other groups
relative to their own ethnic group or culture,
especially with concern for language,
behavior, customs, and religion. These ethnic
distinctions and subdivisions serve to define
each ethnicity's unique cultural identity.
Ethnocentrism may be overt or subtle, and
while it is considered a natural proclivity of
human psychology, it has developed a
generally negative connotation. (Wikipedia,
2014)
8. Implications on 4Ps: Product
No
consideration
for host
country
tastes
Adhere to
home country
regulatory
requirements
Packaging
suited to
home country
9. Implications on 4Ps: Price
No
consideration
for host
country
affordability
Revenues go
back to the
home country
Price the
same as
home country
10. Implications on 4Ps: Place
Use same
distribution
channels as
home country
No
consideration
to host
country
consumer
preferences
No
consideration
given to local
physical
distribution
challenges
11. Implications on 4Ps: Promotion
Same
message and
creative as
home country
Minor
adjustments
to local
preferences
and language
etc.
Minimal
adaption
13. A Polycentric Approach
Polycentrism can be defined as a host country
orientation; which reflects host countries goals and
objectives with respect “to different management
strategies and planning procedures with regard to
international operations.”
Under a polycentric perspective, a company’s
management team believes that in international business
practices local preferences and techniques are usually
found most appropriate to deal with the local market
conditions.
In the most extreme views of polycentrism, it is the
“attitude that culture of various countries are different,
that foreigners are difficult to understand and should be
left alone as long as their work is profitable.” (Wikipedia,
2014)
14. Implications on 4Ps: Product
Complete
adaption of
product to
host country
tastes and
preferences
Adhere to
host country
regulatory
requirements
Packaging
suited to host
country
15. Implications on 4Ps: Price
Consideration
for host
country
affordability
Revenues
remain in
host country
Price
completely
different from
home country
16. Implications on 4Ps: Place
Tailor
distribution
to host
country
Consideration
to host
country
consumer
preferences
Consideration
given to local
physical
distribution
challenges
17. Implications on 4Ps: Promotion
Tailored
message and
creative in
host country
Major
adjustments
to local
preferences
and language
etc.
Complete
adaption
19. A Geocentric Approach
The sole goal of geocentrism is to globally unite both
headquarters and subsidiaries.
The firms subsidiaries are thus neither satellites nor
independent city states, but parts of a whole whose focus
is on worldwide objectives as well as local objectives,
each part making its unique contribution with its unique
competence.
Furthermore, geocentrism boils down to product
differentiation, diversifying functions in the sense that
different markets require dissimilar behavior, and lastly
geographic location. (Wikipedia, 2014)
20. Implications on 4Ps: Product
Most fitting
product to
meet both
the local and
global needs
Adheres to all
the
regulations in
the home and
host country
Packaging
meets the
needs of both
21. Implications on 4Ps: Price
Price adapted
where
required
Revenues
split
proportionally
Pricing to suit
home and
host country
22. Implications on 4Ps: Place
Distribution
based on
optimal
channels
Consideration
to host
country
consumer
preferences
Consideration
given to local
physical
distribution
challenges
23. Implications on 4Ps: Promotion
Message that
transcends
the
home/host
country
Adjustments
made for
local
preferences
and language
etc.
Some
adaption
whilst
maintaining
efficiencies
