Firms that pursue a localization strategy try to create value by:
A) emphasizing local responsiveness.
B) encouraging a global staffing approach.
C) emphasizing transnational strategies.
D) building an informal management network.
E) transferring products and competencies overseas.

Question

Quizplus · Accepted Answer

Firms that pursue a localization strategy focus on adapting their products or services to meet the specific needs and preferences of local markets. This approach emphasizes local responsiveness, which involves tailoring the marketing mix (product, price, promotion, and place) to fit the unique cultural, economic, and political characteristics of each target market. By doing so, firms can create value by increasing customer satisfaction, enhancing brand reputation, and establishing strong relationships with local stakeholders.

Firms That Pursue a Localization Strategy Try to Create Value