Strategy Used by Firms That Have as Many Different Product

question 163

Multiple Choice

strategy used by firms that have as many different product variations,brand names,and advertising programs as countries in which they do business is referred to as a(n)

• A) ethnocentric strategy.
• B) multidomestic strategy.
• C) transnational marketing strategy.
• D) meganational marketing strategy.
• E) multimarket strategy.

---

Definitions:

Competitive Industry

An industry where numerous firms compete against each other to sell similar products or services.

Output Level

The quantity of goods or services produced by a company, industry, or economic sector within a given time period.

Economic Rents

Earnings in excess of the minimum necessary to keep a factor of production in its current use, often associated with restricted supply or monopoly power.

Imperfectly Competitive

A market structure where individual firms have some control over the price of their products due to a lack of perfect competition.