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Seeking Products or Services That Have Been Successful in One

question 24

Multiple Choice

Seeking products or services that have been successful in one market and introducing the same basic product or service in another segment of the market is referred to as ________ new entry.


Definitions:

European Countries

Nations located on the continent of Europe, each with its own unique cultural, political, and economic characteristics.

Standardization

The process of making something conform to a standard in order to ensure consistency and interoperability across different platforms, products, or systems.

Multidomestic Strategy

A strategy that concentrates on the development of foreign markets by selling to foreign nationals.

Multinational Strategy

Standardizing the products and services around the world to gain efficiency.

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