Answered: 4. A significant advantage of using a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. A significant advantage of using a standardized strategy for all of a firm's markets is A customized promotional messages for each market. B the ability to satisfy varied market segments. C the consideration that is given local tastes and preferences D economies of scale that grow out of large production runs. E variety in products and promotions.

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Step 1

Product adaptation implies that the firm adapts the product to the local markets. It is the procedure of altering products for different nations and regions or designing new products for foreign markets. Product standardization implies that the firm sells and advertises a standardized product in the international context.

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