EPRG Orientation
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Douglas Wind and Pelmutter advocated four approaches to international business: the ethnocentric approach, polycentric approach, regiocentric approach, and geocentric approach. The ethnocentric approach involves exporting the same products designed for the domestic market to foreign countries. The polycentric approach decentralizes decision-making to foreign executives. The regiocentric approach markets similar products designed for a region to neighboring countries. The geocentric approach operates subsidiaries globally as independent companies coordinated by the headquarters.
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This document discusses international human resource management (IHRM). It defines IHRM and explains why organizations develop international HR strategies due to factors like global competition and differences in environments across countries. It also discusses the need for IHRM in managing expatriates and utilizing a global workforce. Further, it describes different types of international organizations and contrasts IHRM with domestic HRM. Key IHRM practices like international staffing, training, performance management and compensation are also summarized.
Tapping Global Market
This document outlines 10 concepts for companies tapping into global markets. It discusses why companies are expected to enter international markets, factors that draw them abroad, and how they should evaluate market attractiveness, risk, and competitive advantage. It also covers typical entry strategies, distinguishing between developed and developing markets, modes of entry like licensing and direct investment, and deciding on marketing programs at the product, price, and distribution levels while considering country of origin effects. Finally, it discusses organizing internationally through an export department, international division, or global structure.
International Business lecture notes in detail for mcom1.pptx
International Business lecture notes in detail
Iceland HR Management
This document outlines an agenda for a presentation on global human resource management. The presentation covers topics such as global thinking, opportunities and challenges of global HR, managing across borders, selecting global managers, training and development, and case studies of Best Buy and Marriott. The document provides an overview of the concepts that will be discussed in the presentation.
UNIT 1 IHRM.pptx
This document provides an overview of international human resource management (IHRM). It defines IHRM and discusses its key functions such as recruitment, selection, training, and performance appraisal at the international level. It also describes the types of employees managed under IHRM - home country, host country, and third country nationals. The document further discusses important IHRM concepts like expatriates, different IHRM strategies (ethnocentric, polycentric, geocentric), risks associated with IHRM, and the relationship between organizational structure and HRM.
Introduction international trade and globalization
International business involves commercial transactions that occur between two or more countries. It includes exports and imports of goods, services, technology, capital, and managerial knowledge. Companies that conduct international business, known as multinational corporations, have several options for doing business abroad, such as exporting, licensing, joint ventures, foreign direct investment through branches or subsidiaries, and providing services. International business integrates the economies of many countries and allows companies to take advantage of resources and markets globally. However, it also faces challenges such as restrictions, competition, and sensitivity to changes in political and economic conditions.
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Introduction international trade and globalization
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Marketing philosophies or Orientation
Marketing orientation ort philosophies depict the various thought processes related to marketing or its evolution
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Price is the sum of all the values that customers give up to gain the benefits of having or using a product or service
Retail image mix
Retail Image refers to how a retailer is perceived by customers and others.To succeed, a retailer must communicate a distinctive, clear, and consistent image.
Store Layout Design
Store layout is an arrangement of the store that include space management, product display, network of passages, arrangement for amenities and customer convenience and other facilities required.
Hypothesis
Hypothesis is a formal statement that represents the expected relationship between an independent and dependent variable.
It is an assumption about the relationship between two or more variables and is predictive in nature
Retail strategy
The long term plan the retailers make in order to achieve their objective is called retail strategy.
International Business Environment- Domestic, Foreign & Global Environment
The document discusses the influence of domestic, foreign, and global environments on international business. It identifies controllable variables such as finance, production, human resources, and marketing. It also identifies uncontrollable variables including the domestic environment, foreign environment, and global environment. The global environment encompasses factors like the international economic environment, regional economic groups and agreements, and international financial institutions. Understanding the business environments is important for businesses to determine market potential, how to enter foreign markets, production scale, labor deployment, financing operations, marketing strategies, and compensation.
Market Environment Analysis
This document provides an overview of tools for analyzing a company's marketing environment, including SWOT analysis and Porter's Five Forces model. SWOT analysis involves examining a company's strengths, weaknesses, opportunities, and threats. Porter's Five Forces model analyzes the bargaining power of buyers and suppliers, threat of substitutes, threat of new entrants, and rivalry among existing competitors. The document was created by an assistant professor to provide guidance on marketing environment analysis.
Retail strategy
The overall the retailing plan needed to operate the store efficiently and effectively is called Retail Strategy.
Retail formats
This document discusses various retail formats categorized by ownership. It identifies the main ownership models as independent stores, chain stores, franchising, leased department stores, vertical marketing systems, and consumer cooperatives. Independent stores are owned and operated by a single retailer, while chain stores have two or more outlets owned under joint control. Franchising involves a contractual agreement where a franchisee pays fees to a franchiser in exchange for using their brand name and operating format. Leased department stores involve renting space within a larger store. Vertical marketing systems integrate manufacturers, wholesalers, and retailers to facilitate product flow. Consumer cooperatives are owned by their customers.
Retail formats part 3
This document discusses different types of retail formats, dividing them into store-based retailing and non-store-based retailing. Some examples of non-store-based retailing discussed are direct marketing, which involves exposing customers to goods through non-personal media and allowing them to order by mail, phone or online; direct selling, which involves personal contact with customers in their homes; and vending machines, which allow 24-hour automated sales without sales personnel. The document also briefly outlines other non-traditional retail formats such as electronic retailing (e-commerce), mobile van retailing, video kiosks, event retailing, trade parks, and forecourt retailing at gas stations.
Retail formats part 2
This document discusses different store-based retail formats. It identifies convenience stores, supermarkets, food-based superstores, and limited-line stores as food-based retailers. For general merchandise retailers it outlines specialty stores, full-line discount stores, factory outlets, membership clubs, flea markets, off-price chains, and traditional department stores. The document provides brief descriptions of each retail format's characteristics including store size, product assortments, pricing, and target customers.
Retail formats
The document discusses various retail formats categorized by ownership. Independent stores are owned by a single retailer, while chain stores have two or more outlets owned under joint control. Franchising involves a contractual agreement where a franchisee pays fees to the franchiser in exchange for using their brand name and operating format. Leased department stores section off areas of a larger store to outside retailers paying monthly rent. Vertical marketing systems integrate manufacturers, wholesalers, and retailers to different degrees to facilitate product flow from creation to consumer. Formats provide options for retailers based on their resources and target markets.
Rural Consumer Behaviour
This document discusses rural consumers in India. It provides information on the profile of rural consumers, including their low literacy and income levels, scattered population across many villages, and principal occupations in farming and trades. It describes the types of rural consumers as household consumers, rural industrial users, and rural resellers. It also outlines different groups of rural consumers based on their buying behavior, such as habitual, cognitive, emotional, and impulsive groups. Finally, it briefly discusses factors that influence rural consumer behavior, including stimuli, perception, attitudes, needs, demographics, culture, and social influences.
Rural vs. urban marketing
The document compares rural and urban marketing in India, noting key differences in their philosophies, buyer motivations, marketing objectives, mix, research methods, technologies used, and development strategies. Rural marketing focuses on inclusive growth and uses simple research methods, while urban marketing emphasizes fashion, lifestyle, and sophisticated research. The marketing mix also differs, with rural using the basic 4 P's and urban utilizing an expanded 7 P's approach.
The Rural Environment
The document discusses the rural environment and is divided into several sections. It covers the demographic environment including changes in rural population, family structures, age, education, and occupation. The physical environment discusses rural settlements and housing patterns. The socio-cultural environment examines socio-cultural regions, village communities, and the caste system. The political environment analyzes panchayati raj institutions and gram sabhas. The technological environment addresses rapid mechanization and the growth of information and communication technology. Finally, the rural economic environment describes the transitioning rural economy, economic structure, rural enterprises, income disparity, and spending.
Evolution of Rural marketing
This document outlines the evolution of rural marketing in India through four phases:
Phase I (prior to 1960) consisted of agricultural marketing and exchanges of crafts and utensils; Phase II (1960-1980) saw the entry of consumer goods companies and changes in rural demand due to the Green Revolution; Phase III (1990-2000) included new service sectors, pro-rural government initiatives, and companies launching rural-focused products; Phase IV (after 2000) featured financial inclusion, media expansion, hiring of rural staff, and improved standards of living through various government programs.
Introduction to Rural marketing
This document provides an overview of rural marketing in India. It defines rural marketing as developing, pricing, promoting, and distributing rural-specific goods and services to satisfy consumer demand in rural areas. Some key points:
- Rural markets have consumers located in rural areas with different behaviors than urban consumers. Transactions can be rural-to-urban or urban-to-rural.
- Rural marketing focuses more on development than transactions, customer satisfaction, and increasing living standards through a mutually beneficial process.
- Rural markets are large and diverse but scattered, with low incomes mainly from agriculture. They face challenges like high distribution costs, seasonal demand, and lack of infrastructure.
Advertsing budget
The document discusses advertising budgets, which estimate the financial requirements to achieve advertising objectives within a given time period. The budget is a guideline for allocating funds to advertising functions and activities. Key factors that influence the budget include available finances, sales percentages, competitors' spending, and return on investment. The budget specifies income, expenses, and how funds will be allocated. It must be constructed within the company's financial capabilities. The budget process involves estimating total advertising costs based on market information, then appropriating funds and specifying expenditures for each advertising function. The budget is presented to management for review and modification before execution and control to ensure actual spending matches estimates. Various methods can be used to allocate the budget, such as percentages of sales or objectives
Application of research in business
This document discusses research applications in business functions. It identifies the main business functions as marketing, personnel and human resource management, financial and accounting, production and operations management, and cross-functional problems. For each function, it provides examples of types of research that can be applied, such as market potential analysis, demand estimations, and performance management for marketing and personnel respectively. Finally, it mentions cross-functional research can analyze topics such as corporate governance, knowledge management, and environmental impacts. The document provides an overview of how research can inform decision-making across the key areas of business.
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EPRG Orientation
- 2. Douglas Wind and Pelmutter advocated four approaches of international business. They are: E th n o c e n tric A p p ro a c h P o ly c e n tric A p p ro a c h R e g io c e n tric A p p ro a c h G e o c e n tric A p p ro a c h 2
- 3. ETHNOCENTRIC APPROACH The domestic companies normally formulate their strategies, their product design and their operations towards the national markets, customers and competitors Export the excessive production to foreign countries Views the foreign markets as an extension to the domestic markets Exports the same product designed for domestic markets to foreign countries Domestic Personnel take care of foreign business 3
- 5. POLYCENTRIC APPROACH 5 The company establishes a foreign subsidiary company and decentralizes all the operations and decision making to their foreign executives. Company appoints the key personnel from the home country and all other vacancies are filled by the people of the host country The executives of the subsidiary formulate the policies and strategies, design the product based on the host country's environment (culture, customs, laws, government policies etc.) and the preferences of the local customers.
- 7. REGIOCENTRIC APPROACH The company after operating successfully in a foreign country, thinks of exporting to the neighbouring countries of the host country. The foreign subsidiary considers the regional environment (for example, Asian environment like laws, culture, policies etc.) for formulating policies and strategies. Markets more or less the same product designed under polycentric approach in other countries of the region, but with different market strategies 7
- 9. GEOCENTRIC APPROACH The entire world is just like a single country for the company. They select the employees from the entire globe and operate with a number of subsidiaries. The headquarters coordinate the activities of the subsidiaries. Each subsidiary functions like an independent and autonomous company in formulating policies, strategies, product design, human resource policies, operations 9
- 11. THANK YOU !!! Write to me at vijyata.rwc@gmail.com or comment in the comment box