Question

Match the following strategies for selling products globally with the correct definition.

1. Product extension
2. Product adaption
3. Product invention

Answer 1

Product extension, product adaptation, and product invention are strategies for selling products globally.

Step-by-step explanation:

Match the following strategies for selling products globally with the correct definition:

1. Product Extension: This strategy involves selling the same product in international markets without making any changes. For example, a company selling smartphones globally with the same features and specifications.
2. Product Adaptation: This strategy involves making modifications to the product to suit the preferences and needs of a specific international market. For example, a fast food chain offering different menu items in different countries based on local tastes.
3. Product Invention: This strategy involves creating a completely new product specifically for a foreign market. For example, a company developing a new type of sunscreen catered to a specific country's climate and culture.