International marketing Essay Example | Topics and Well Written Essays - 2000 words - 1

International marketing - Essay Example Geocentric means employing third country national and Poly centric staffing means employing home country nationals. Home country nationals are those from the MNC’s home country. Ethnocentrism is a part of Chinese culture and it often creates barriers from one another and causes to from wrong opinions about each other. It often causes racial discrimination, hallo effect and wrong actions. â€Å"Ethnocentrism may be defined as the tendency to view the values and behavior of other peoples as invariably inferior and less "natural" or logical than those of ones own social group and to judge the values and behaviors of other peoples by the standards of ones own social  group.† (You are a Fluke of the Universe). Ethnocentric beliefs make people of the same race and class acted in the same manner, as well as believing that their race is superior. Culture is the set of values, moral beliefs, and way of doing things in a specific community or group of people. Culture is a challenge to the MNC’s in the international market. In order to succeed in the global market, it is essential to understand the local culture and can make appropriate changes in business activities. Now a days MNC’s are adopting various changes in their approach due to the new global market opportunities. They identify that the cultural aspects as important part in their strategy. BRIC economy is continuously increasing and MNC’s had realised the importance of understanding culture and norms of emerging economic powers. BRIC is the new emerging market and includes Brazil, Russia, India and China. â€Å"Although BRICS economies are growing, this growth would not adequately reflect on prosperity and per ca pita income. In this scenario, BRICS as an alliance could ensure that the benefits of this projected success story reach the people in these countries, and are not siphoned off by unfavorable trade agreements or hot money invested from other parts of the world.†