Which of the following is true of a product that serves universal needs?

Question

Quizplus · Accepted Answer

If a product serves universal needs, it is likely that the demand for the product will be high in all markets. This makes it more attractive to concentrate production in an optimal location to reduce costs and increase efficiency. Customizing the product for small consumer groups or accommodating demands for local responsiveness may not be necessary as the product is designed to serve a universal need. Additionally, serving national differences in taste and preference may also not be difficult, as the product is designed to appeal to a wide range of consumers. Dispersing production globally may not be as attractive as concentrating production due to the benefits of economies of scale and cost savings.

Which of the Following Is True of a Product That