Question

Ajax Corporation has decided to enter the international marketing arena by marketing its products on a country-by-country basis, with separate marketing strategies for each country. The company is using which of the following concepts to formulate its international policies and strategies?

A. Domestic market extension concept
B. Multidomestic market concept
C. Mass marketing concept
D. Universal marketing concept
E. Standardized marketing concept

Answer 1

Ajax Corporation employs the Multidomestic market concept for their international policies, customizing marketing strategies for each country to better suit local market demands. Option b.

Step-by-step explanation:

Ajax Corporation is using the Multidomestic market concept option b, to formulate its international policies and strategies when it decides to enter the international market by marketing its products on a country-by-country basis, with separate marketing strategies for each country. This concept is typically characterized by tailored marketing approaches that suit the distinctive needs of each international market they are targeting, contrasting with a standardized marketing approach where the same strategy is applied across multiple markets. The multidomestic strategy respects the fact that markets are becoming broader due to greater competition, yet it also leverages the unique characteristics of each local market to maximize competitive advantage.