Approximately 80 percent of the world's population lies outside of the developed nations and prosperous part of the world. Which of the following is the best tactic for serving markets with much less purchasing power?

Question

Quizplus · Accepted Answer

Offering lower sale prices is necessary for serving markets with much less purchasing power. However, providing smaller packaging sizes can also be an effective strategy since it makes the product more accessible and affordable to customers with limited income. Option A suggests larger packaging sizes, which could be seen as insensitive to local market needs. Option B may not be effective or appropriate, as it only relates to branding and image rather than addressing market needs. Conducting business as usual in these countries (Option C) may not be the best approach since it may not take into account local challenges and preferences, resulting in potential brand or product rejection. Dismissing local competition (Option D) could harm relations with local stakeholders and even lead to legal or ethical issues.

Approximately 80 Percent of the World's Population Lies Outside of the Developed