The Most Important Consideration When a Firm Chooses a Global

question 111

Multiple Choice

The most important consideration when a firm chooses a global product strategy should be

• A) opportunities for countertrade.
• B) the effectiveness of the marketing team.
• C) the needs of the target market.
• D) the provisions of GATT.
• E) WTO regulations.

---

Definitions:

Perfectly Competitive

A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price taking behavior.

Monopolistically Competitive

Refers to a market configuration in which multiple companies offer products that are alike but not exactly the same, enabling considerable distinction and a limited amount of influence over the market.

Cost Curves

Graphical representations of how the costs of producing goods or services change with varying levels of output.

Perfectly Competitive

Referring to a market structure where there are many buyers and sellers, all selling homogeneous products, with no barriers to entry or exit, leading to price determination by supply and demand forces alone.