The Appropriateness of the Strategy That a Firm Chooses to Use

question 28

Multiple Choice

The appropriateness of the strategy that a firm chooses to use in an international market varies with the extent of pressures for

• A)quality improvement and product standardization.
• B)customer surplus and quality improvements.
• C)customer surplus and product standardization.
• D)cost reductions and local responsiveness.
• E)product standardization and cost reductions.

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Definitions:

Combinations

In mathematics and statistics, combinations refer to the selection of items from a group, where the order of selection does not matter.

Total Utility

The overall satisfaction or pleasure a person derives from consuming a certain quantity of goods or services.

Marginal Utilities

The increased enjoyment or benefit obtained by a user from the consumption of one more unit of a good or service.

Buyer's Income

The total earnings available to a buyer for the purpose of making purchases, including both disposable income and any credit.