WKL Entertainment Inc. is a service-based firm with very few competitors. The company is looking to sell its services in different nations with substantial differences in consumer preferences and where cost pressures are not too intense. Which of the following strategies should WKL Entertainment Inc. managers pursue?
A) Global standardization
B) Transnational
C) Localization
D) International
E) Multinational

Question

WKL Entertainment Inc. is a service-based firm with very few competitors. The company is looking to sell its services in different nations with substantial differences in consumer preferences and where cost pressures are not too intense. Which of the following  strategies should WKL Entertainment Inc. managers pursue?
A) Global standardization
B) Transnational
C) Localization
D) International
E) Multinational

Quizplus · Accepted Answer

Since WKL Entertainment Inc. is targeting nations with substantial differences in consumer preferences, it would be best to opt for a localization strategy. This strategy involves adapting the services to meet the unique needs of each country or region, rather than offering a standardized product/service in all regions. It allows the company to cater to the specific needs and preferences of customers in different regions, which can help in increasing customer loyalty and gaining a competitive advantage. Additionally, as cost pressures are not too intense, adapting the services to local markets should not be very expensive for the company.