Explain the difference between an ethnocentric approach and a polycentric approach to international marketing. Why might marketers choose to adopt a regiocentric or geocentric approach?

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The Answer is An ethnocentric approach results from management that believes the home country is superior and that the marketing undertaken in the home market should be applied to all offshore markets. A polycentric approach results from management that believes each country is different, with no country being necessarily inferior. Marketers often shift their approach to reflect changing circumstances, such as in economic and market development. With a regiocentric approach, a particular region (group of countries) is viewed as a market with integrated strategies developed that reflect both the differences and similarities between the home market and the region. For markets outside the region, management might still adopt an ethnocentric or polycentric approach. With a geocentric approach, the entire world is viewed as a market and a global approach is developed that is flexible enough to respond to local needs and wants as required.

Explain the Difference Between an Ethnocentric Approach and a Polycentric