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Describe the difference among ethnocentric, polycentric, regiocentric, and geocentric management orientations.The premise of an ethnocentric orientation is that home country products and management processes are superior. An ethnocentric company that neither sources inputs from, nor seeks market opportunities in, the world outside the home country is a domestic company. A company that does business abroad while still presuming the superiority of the home country may be classified as an international company. Such a company relies on an extension strategy whereby it would export, without adaptation, products designed for the domestic market. The polycentric orientation that predominates at a multinational company leads to a view of the world in which each country market is different from the others. The marketing mix in a polycentric, multinational company is adapted by local country managers operating with a high degree of autonomy. Managers who are regiocentric or geocentric in their orientations recognize both similarities and differences in world markets. Markets opportunities are pursued using both extension and adaptation strategies. The regiocentric and geocentric orientations are characteristic of global or transnational companies.What are some major trends in the world that will affect marketing?There are numerous driving forces affecting global integration and global marketing. These include: technology, regional economic agreements, market needs and wants, transportation and communications improvements, rising product development costs, quality issues and the growth of transitional/global companies.3.Explain the differences among a market allocation economic system, a command allocation system, and a mixed system.A market allocation economic system relies on consumer-driven forces of supply and demand to allocate resources. The elements of the marketing mix are important strategic variables that companies use to attract attention to their product