In modifying products for international markets firms may employ a multi-domestic product strategy or a mass customization product strategy. Distinguish between these two alternative strategies.

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The Answer is A multi-domestic product strategy involves customizing products to meet the specific needs and preferences of different international markets. This means that a company will develop different versions of a product to cater to the unique tastes, regulations, and cultural norms of each country or region it operates in. This strategy allows for a high level of local adaptation and can help a company better compete in diverse markets.

On the other hand, a mass customization product strategy involves offering a standardized product that can be easily adapted or customized by the customer to meet their individual needs or preferences. This strategy allows for economies of scale in production while still providing a level of personalization for the customer. It can be particularly effective in international markets where there may be a demand for both standardized products and customization options.

In summary, the main difference between these two strategies is that a multi-domestic product strategy focuses on customizing products for different international markets, while a mass customization product strategy focuses on offering a standardized product with options for personalization by the customer. Both strategies have their own advantages and can be effective in different international market contexts.

In Modifying Products for International Markets Firms May Employ a Multi-Domestic