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Characterize the Four Broad Strategies Often Employed by Market Followers

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Essay

Characterize the four broad strategies often employed by market followers to meet their competitors.


Definitions:

Foreign Exchange Rates

The value of one currency for the purpose of conversion to another, which determines how much of one currency can be exchanged for another.

Value-Added Taxes

A tax on the amount by which the value of an article has been increased at each stage of its production or distribution.

Final Customer

The end user or consumer who purchases a product or service for personal use and not for resale or further processing.

Homeshoring

A practice where businesses hire employees to work from home or a remote location rather than in a traditional office setting, often used as an alternative to offshoring.

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