When a firm focuses on increasing profitability by customizing the product or service so that they provide a good match to tastes and preferences in different national markets,the firm is following a localization strategy.

Question

Quizplus · Accepted Answer

This statement correctly describes a localization strategy, which is when a company customizes its product or service to meet the specific preferences and requirements of different national markets, in order to increase profitability.

When a Firm Focuses on Increasing Profitability by Customizing the Product