Polycentric marketing is a type of global marketing in which companies attempt to spread out the appeal of their products or services among multiple countries. It occurs when a business decides to broaden its operations and focus on sales outside of its home country. The focus is no longer placed on domestic sales, with international sales being a welcome addition. Rather, international sales are thought of as a key part of the business that deserves independence. Polycentric marketing is typically considered one of the steps in global business integration. It tends to follow ethnocentric marketing, where the company has an overseas presence but does not give overseas branches independence or the ability to create their own marketing. After polycentric is the final global marketing form, known as geocentric. Geocentric marketing standardizes products for markets that include entire nations but adapts these products wherever necessary in one complete global strategy. E.g.: Pakistan needs to diversify its exports not only in terms of commodities but also in terms of markets. Raw cotton, Textile products and Cotton yarn, Rice, Leather and leather product, Carpets and rugs, Tents, Synthetic textiles, surgical instruments and Sports goods are produce in Pakistan at border the excess inventory export USA, Germany, Japan, UK, Hong Kong, Dubai and Saudi Arabia so the Pakistan marketing connected with the international market. Ethnocentric:
Ethnocentric is a term that is “sometimes associated with attitudes of national arrogance or assumptions of national superiority.” The overall feeling of operations, of an ethnocentrism company is that one means of manufacturing and marketing is enough. Ethnocentric companies assume that products and practices that succeed in the home country will ultimately be successful anywhere. These companies are also lead by the notion that the products or services that advance in the home country are superior products. ...
Please join StudyMode to read the full document