For a Firm Pursuing a Global-Standardization Strategy, Which of the Following

question 98

Multiple Choice

For a firm pursuing a global-standardization strategy, which of the following bases of competition becomes its primary weapon?

• A) Product differentiation
• B) Superior customer service
• C) Local responsiveness
• D) Price

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Definitions:

Resources

Assets, materials, and inputs needed for the production of goods and services, including natural, human, and capital resources.

Market System

A market-based economic system where decisions about investment, production, and the allocation of goods are driven by the dynamics of supply and demand, with goods and services' prices being freely determined.

Profits

The financial gain realized when the revenue generated from business activities exceeds the expenses, taxes, and costs associated with maintaining the business.

Demand

The willingness and ability of consumers to purchase goods or services at various prices at a given time.