Responding to pressure for ________ requires that a firm differentiates its products and marketing strategy from country to country, even though they may raise costs.

Question

Responding to pressure for ________ requires that a firm differentiates its products and marketing strategy from country to country, even though they may raise costs.

BlackTom AI · Accepted Answer

The question asks about responding to pressure for ______ and links this to differentiating products and marketing by country, even at higher costs.
Option 1: 'cost reductions' — This emphasizes global efficiency and standardization, which typically aims to lower costs rather than tailor offerings to each country. It does not capture the need to differentiate by market, so it’s not aligned with being locally responsive.
Option 2: 'experience effects' — Also known as learning or economies of experience, these are about cost or productivity gains from cumulative production over time. While valuable, they describe internal efficiency improvements rather than external adaptation to different country markets, so this choice misses the localization focus.
Option 3: 'lowering the costs of value creation' — This speaks to reducing overall production or value-creation costs, usually via scale, integration, or process improvements. Again, it does not address the necessity to differentiate offerings across different countries, so it’s not the best fit for local responsiveness.
Option 4: 'being locally responsive' — This directly corresponds to tailoring products, services, and marketing to suit local tastes, regulations, and competitive conditions in each country, which often increases costs but provides differentiation across markets. This option accurately captures the described pressure and trade-off.
Thus, the reasoning shows that only being locally responsive aligns with the requirement to differentiate across country markets, despite the potential cost implications.

Responding to pressure for ________ requires that a firm differentiates its products and marketing strategy from country to country, even though they may raise costs.

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