The appropriateness of the strategy that a firm uses in an international market varies with the extent of pressures for ____________d ________________.

Question

Quizplus · Accepted Answer

The appropriateness of the strategy that a firm uses in an international market varies with the extent of pressures for cost reductions and local responsiveness. Cost reductions refer to the need for a firm to lower its production or operational costs to remain competitive in the international market. Local responsiveness refers to the need for a firm to tailor its products or services to the unique preferences and demands of local customers in each international market. Therefore, a firm's international strategy should balance these two pressures - the need for cost reductions and the need for local responsiveness - to achieve success in international markets.

The Appropriateness of the Strategy That a Firm Uses in an International