Question

Which of the following approaches is best suited to a global market where there is need but not the needed purchasing power to buy either the existing or adapted​ product?

A.Product-communication extension​ (dual extension)
B.Product​ adaptation-communication extension
C.Innovation
D.Product​ extension-communication adaptation
E.Product-communication adaptation​ (dual adaptation)

Answer 1

The best approach for a global market with limited purchasing power is Innovation, which involves developing new products or altering existing ones to meet the market's needs and affordability.

Step-by-step explanation:

The approach best suited to a global market where there is need but not the necessary purchasing power to buy either the existing or adapted product is Innovation (C). This strategy involves creating new products or significantly altering existing ones to meet the unique demands and constraints of the target market, often focusing on affordability and local preferences. It's not just about making cheaper versions of existing products but about understanding the specific needs and creating solutions that are both accessible and valuable to the consumers in that market.

For example, companies might develop more durable and affordable goods for markets with less infrastructure, or they might create services that rely less on technology in areas with limited internet access. This approach can create a substantial opportunity for businesses to tap into new markets and create value for consumers who were previously underserved.