A multidomestic approach to international markets:
A)Involves the production and marketing of one product design throughout the world
B)Involves custom tailoring of products and services around individual market needs
C)Is almost always preferable to a global strategy
D)Is almost always less costly than a global strategy
E)Is only appropriate when economic efficiencies are possible

Question

Quizplus · Accepted Answer

A multidomestic approach involves adapting products and services based on individual market needs, rather than offering a standardized product worldwide. This approach recognizes cultural, economic, and regulatory differences across countries and tailors strategies accordingly. While it may require additional costs for adaptation, it can often lead to greater success in local markets.

A Multidomestic Approach to International Markets