Question

Responding to pressure for _____ requires that a firm differentiate its product offering and marketing strategy from country to country. a. cost reductions b. experience c. effects d. lowering the costs of value creation e. being locally responsive

Answer 1

Answer:

The correct answer to the following question is option E) being locally responsive.

Explanation:

Local responsiveness can be defined  as the degree to which a company must make customization in its products and method , which are necessary in order to meet the conditions in other countries. A company need to make customization in order to meet the diverse demands of the people , which arises because of the different taste and preferences, competitiveness in the market, difference in distribution model, government policies etc.