Custom Foot Runs Six Retail Locations

question 107

Multiple Choice

Custom Foot runs six retail locations. At first glance none look any different from your basic old-fashioned shoe store, but the only shoes on hand are display models. There's no inventory for sale, and customers go home empty-handed - at least initially. Customers browse the store, mixing and matching design components such as style, colour, and leather type. About 100 display shoes provide style guidelines. Once you choose a shoe style, you select materials, colours, textures and a style of sole. The Retailer sells 10,000 variations in women's shoes and 7,800 in men's. Custom Foot guarantees your shoes will be ready within three weeks. This is an example of:

• A)synergy.
• B)one product and multiple market segments.
• C)mass customization.
• D)price discrimination.

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Definitions:

Multidomestic Strategy

A global marketing strategy that involves tailoring products or marketing efforts to each country or region's specific needs and preferences.

Varying Demand

Fluctuations in the need or desire for products and services over time, which can affect inventory levels, staffing requirements, and business strategies.

Globalization Strategy

A plan implemented by businesses to expand their operations and market presence on a global scale.

Standardize Products

Refers to the process of making products uniform or consistent in quality and performance to ensure they meet specified standards.