* When a firm adopts polycentric approach to overseas markets, it attempts to organize its international marketing activities on a country to country basis. Each country is treated as a separate entity and individual strategies are worked out accordingly. * Local assembly or production facilities and marketing organizations are created for serving market needs in each country. Polycentric orientation could be most suitable for firms seriously committed to international marketing and have its resources for investing abroad for fuller and long-term penetration into chosen markets. * Polycentric approach works better among countries which have significant economic, political and cultural differences and performances of these tasks are free from the problems created primarily by the environmental factors.
* The number of countries in which the company is doing business gets bigger than that in earlier stage. And so, instead of producing different goods for different countries, company tries to identify different regions for which it can deliver same product. So, same product for countries lying in one region but different from product offered in countries of another region. * E.g. a company may decide to offer same product to India, Sri Lanka and Pakistan if it thinks the taste of people of these countries is same but at the same time offering different product for American countries. This approach is called ‘Regiocentric approach’.
(iii)Labeling & Packaging:-
* Packaging is the science, art, and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of design, evaluation, and production of packages. Packaging can be described as a coordinated system of preparing goods for transport, warehousing, logistics, sale, and end use. Packaging contains, protects, preserves, transports,...