Adapting Products and Their Marketing Strategies in Each of the National

question 37

Multiple Choice

Adapting products and their marketing strategies in each of the national markets of a company to suit local preferences is called a ________ strategy.

• A) multinational
• B) blue ocean
• C) global
• D) retrenchment

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Definitions:

Income

The total money received by an individual or household from various sources like wages, investments, and benefits, over a specified period, often used to fund expenditures.

Price

The price one must pay to obtain a good, service, or asset.

Claret

A term often used in Britain to refer to red Bordeaux wine.

Utility Function

A representation of how individual preferences are ranked for different bundles of goods.