Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
11 Cards in this Set
- Front
- Back
|
The companies which felt the need for internationalization may demonstrate different ways of market selection. |
SELECTION OF COUNTRY MARKETS FOR EXPANSION |
|
|
PESTLE |
Political, Economic, Social, Technological, Legal and Environmental |
|
|
Different writers in international marketing, at different times, have pointed towards the fact that companies can be categorized in four different ways in terms of management orientation. |
Organization’s orientation |
|
|
an organization sees the home market as superior but sees similarities in other markets to their own. |
Ethnocentric Management |
|
|
views each country as unique and outlines the differences associated with each new country. |
Polycentric Management |
|
|
views both the similarities and differences of each country in relation to the world. |
Regiocentric Management |
|
|
have a worldwide view and can see the differences and similarities between home and host countries. |
Geocentric Management |
|
|
A Company’s exposure in the internal market would be an influential factor in deciding its involvement in the market selection process. |
International exposure |
|
|
Most of the time, the decision to enter a new foreign market is associated with long term strategy of a company and not just a reactive decision to certain spontaneous market happenings and hence requires quick action. |
Time for research |
|
|
Since international market selection involves looking across the international border, the data required for assessing foreign markets may not be easily available. It may require conducting both secondary and primary research to have a clear market perspective of the targeted foreign markets. |
Resources |
|
|
Some companies may operate as specialists of dealing with a niche product for a market subgroup. For example, a company which markets only halal food may not be interested in countries where halal food is not much in vogue. |
Niche Market Specialization |
