International Marketing– IB0011 (Assignment winter 2014)
Q.1 = Solution: In companies EPRG framework impact International marketing. EPRG is Ethnocentric, Polycentric, Regiocentric and Geocentric. To understand the market orientations we will discuss this framework in brief.
a) Ethnocentric
A company with ethnocentric approach, based on the home-country perspectives deals with the whole world. Strategies of marketing which are used in foreign markets are based on local or domestic markets. Ethnocentrism is based on one’s firm belief in the superiority of one’s own culture. Under the ethnocentric approach, products designed for the home market are exported elsewhere in the world with little adaptation. Such approach can leads to failure…show more content… It is comprised of more than 30 affiliated organisations and 193 member countries, and it is the key organisation that touches each issue at a world scale. On 24 October 1945, the UN was established existence by 51 countries in order to maintain peace and security the world.
The objective of UN is maintain international peace and security, to develop sociable relations among nations. Co-operate in solving international problems and in promoting respect for human rights. Act as a Centre for harmonising the actions of nations
It must be carefully understood that the UN does not act like a world government with a predefined mandate of legislation. The member states of the UN are at their liberty to jointly make laws at the international level for which they are assigned the voting rights.
United Nations Conference on Trade and Development (UNCTAD) from the international marketing perspective, the United Nations Conference on Trade and Development (UNCTAD) is the most important organisation, established in 1964 under the UN system, to promote the trade interests of the developing countries. UNCTAD undertakes the issues related to trade, commodity and investment and plays a vital role with an effort to integrate them with the global…show more content… It consists of one governor and one alternate for each member country. The Governor, appointed by the member country, is usually the minister of finance or the Central Bank.
Governor. The Board of Governors delegate their work to the Executive Board.
The Executive Board is responsible for carrying out the day-to-day business of the IMF. It comprises of 24 Directors nominated by the contracting parties. The Managing Director serves as its chairman for a 5-year term and is selected by the Executive Board.
Functions of the IMF the IMFs role is to create a climate in which the governments are persuaded to dismantle the exchange controls and to permit free trade and free movement of capital. The IMF is designed to perform three important roles in the international monetary system and function as a consultant.
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