A company may display varied attitudes, which could turn clear when planning for international marketing. Geocentric, ethnocentric and polycentric models are the three primary models which address the marketing mix .
The following write up is a discussion of the primary models of international marketing and how a company marketing strategy and the cultural differences will impact the choice of model.
With the ethnocentric model, the management makes use of the same practices and style that work in their home country. The model may lead to notable mistakes from managers since what works in the home country may not work similarly in other countries. The overall operational feeling of this model is that one means of marketing is ample. The management is led by the notion that the services and products in its home country are superior.
Polycentric model, contrary to the ethnocentric, management deploys its work force in the foreign countries with the local people being the majority with the notion that the local people have a deeper knowledge of their country compared to foreigners in terms of language, work ethics, culture etc., idealizing their candidacy. Geocentric approach holds that management posts should be allotted to the best individuals regardless of their origin.
For customer-oriented strategy of marketing, one in which a company lays the most focus on the customer wants and needs, polycentric model is the model is the most suitable, while in a marketing strategy that is competitor oriented, ethnocentric and geocentric approaches may apply best. The customer-oriented strategy presumes that the consumers make more purchases, and their loyalty to certain brands can be guaranteed the moment they get satisfied with them.
Cultures differ from one state to the other and, hence, the geocentric and ethnocentric approaches may not be the most appropriate. The polycentric approach, on the other hand, is the most suitable as far as the cultures of different countries are concerned since the workers understand the cultures of their home countries almost perfectly.
Polycentric model is the most successful. This is because the most preferred markets are those that are developed due to the high-purchasing power of the citizens and the high management skills and acumen in the citizenry.
The three primary models of international marketing have their unique characteristics that might make a company successful in its bid for internationally marketing itself. Factors such as culture of the target market affect the model to be applied.