Explain the Difference Between an Ethnocentric Approach and a Polycentric

question 4

Essay

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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Definitions:

Exposed

Being subject to something or made vulnerable to its effects.

Groupthink

A phenomenon where the desire for harmony or conformity in a group leads to irrational or dysfunctional decision-making outcomes.

Illusion of Invulnerability

A cognitive bias in which a person or group overestimates their immunity from harm or negative outcomes, often leading to risk-taking behaviors.

Illusion of Unanimity

The perception that everyone agrees within a group when in fact some members may disagree but are reluctant to voice their dissent.