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This world view has as dominant assumption that host country cultures are different 1 OFF est. for their operation and should b given maximum freedom to run their affairs as they see fit. This view alleviates the chance of cultural myopia and is often less expensive to implement than ethnocentric because it needs less expatriate managers to be send out and centralized policies to be maintained. The drawbacks of this attitude are that it can limit career mobility for both local and foreign nationals, isolate headquarters from foreign subsidiaries and reduces opportunities to achieve synergy. . GEOCENTRIC (world orientation) This orientation does not equate superiority with nationality. Within legal and political limits, executives try to seek the best men, regardless of nationality, to solve the company’s problems wherever in the world they occur. This attitude uses human resources efficiently and furthermore helps to build a strong culture and informal management networks. Drawbacks are that national immigration policies may put limits to its implementation and it might be a bit expensive compared to polytechnics.
It attempts to balance both global integration and local responsiveness. Perimeter’s observation was that most Macs start out with an ethnocentric view, lowly evolve to polytechnics and finally adopt geocentricism as the organization familiarizes itself more and more with conducting business on a global playing field. In 1979 Permute and his colleague David A. Henna added a fourth orientation to create the PEER model: the R stands for a recognition approach falling in between a polytechnic and geocentric orientation.
Recognition or regional orientation is defined as a functional rationalization on a more-than-one country basis. Subsidiaries get grouped into larger regional entities. Regions are consistent with some natural boundaries, such as the Europe, America and Asia-Pacific. Both polytechnic and recognition approaches allow for more local responsiveness, with less corporate integration. Local Marketing – also referred to as local store marketing or neighborhood marketing ??specifically targets the community around a physical store or restaurant.
Promotional messages are directed to the local population, rather than the mass market (See also Community Marketing). In practice, local marketing can take several forms. Many local businesses directly contact consumers through mail, in-town events, local team sponsorships, or advertisements in the town paper. Hoping to not only attract new customers but to drive repeat business, a successful local marketing push allows a store to stake out a significant presence in local consumers’ mental maps of their communities. Also known as “neighborhood marketing”, is a marketing term that refers to the application of different variables in a business’s marketing mix dependent on localized specifications including the consumer, competition, and store characteristics. Than one country. However, there is a crossover between what is commonly expressed as international marketing and global marketing, which is a similar term. Also defined geographically as a market outside the international borders of a company’s country of citizenship.
A company, to the extent that it is a legally distinct entity from its owners like a corporation, is usually a citizen of the country where it is organized. MOM, for example, was formed in the United States. Thus, any geographic area outside the territorial boundaries of the United States where IBM conducts business is Vim’s international market. The conceptual opposite of an international market is the company’s domestic market, which is the geographic region within the national boundaries of company’s home country.