One of the biggest strategic challenges to competing in the international arena include
A) how to avoid the risks of shifting exchange rates.
B) whether to charge the same price in all country markets.
C) how many foreign firms to license to produce and distribute the company's products.
D) whether to offer a mostly standardized product worldwide or whether to customize the company's offerings in each different country market to more precisely match the tastes and preferences of local buyers.
E) whether to pursue a global strategy or an international strategy.

Question

Quizplus · Accepted Answer

The decision of offering a standardized product or customized offering is a critical choice that determines the success of a company's international strategy. If a company offers a standardized product, it may not cater to the local tastes and preferences of consumers, leading to a lower market share. On the other hand, if a company offers customized offerings, it may increase its market share, but it may incur high costs due to R&D and production changes. Hence, the best choice is to offer a product that matches local preferences but with minimum customization to ensure cost-effectiveness.

One of the Biggest Strategic Challenges to Competing in the International