A Firm Facing Low Pressures for Cost Reductions and Low

question 36

Multiple Choice

A firm facing low pressures for cost reductions and low pressures for local responsiveness, is most likely to follow a(n) _____ strategy.

• A) global standardization
• B) localization
• C) international
• D) transnational

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Definitions:

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at a given price.

Price Maker

A firm or entity that has the power to influence the price at which a product or service is sold, typically due to a lack of competition or a unique product offering.

Demand Curve

A visual representation indicating the quantity of a good consumers are ready to purchase at various prices, usually sloping downwards to the right.

Monopoly Firm

A company that is the sole provider of a product or service in a market, facing no direct competition.