Question

Which of the following is NOT a typical option that companies have to consider in order to tailor their strategy to fit the circumstances of emerging country markets?

a) Emphasizing standardization of products and services
b) Adapting to local cultural norms and preferences
c) Focusing on low-cost strategies
d) Collaborating with local partners

Answer 1

A typical strategy that companies do not consider when entering emerging markets is the emphasis on standardization of products and services, as these markets often require localization to be successful.

Step-by-step explanation:

The question you've asked about tailoring strategy for emerging market economies revolves around options companies consider when entering these markets. A typical option that companies do not generally consider is emphasizing standardization of products and services, as emerging markets usually require a degree of localization. Companies often need to adapt to local cultural norms and preferences, focus on low-cost strategies, and collaborate with local partners to succeed in these diverse settings.

However, the text does mention that when companies invest in foreign plants, they tend to build facilities similar to their operations in high-income countries to avoid the high costs associated with environmental disasters, demonstrating a level of standardization in this aspect. Yet, as a whole, a purely standardized approach to products, services, and consumer interactions is not typically an option due to the varied nature of emerging markets.