Question

The approach of a firm using a "think global, act local" version of a global strategy entails:

A. producing and marketing a variety of product versions under the same brand name, with each different version being designed specifically to accommodate the needs and preferences of buyers in a particular country.

B. little or no strategy coordination across countries.

C. pursuing the same basic competitive strategy theme (low cost, differentiation, best cost, focused) in all countries where the firm does business but giving local managers some latitude to adjust product attributes to better satisfy local buyers and to adjust production, distribution, and marketing to be responsive to local market conditions.

D. selling the company's products under a wide variety of brand names (often one brand for each country or group of neighboring countries) so buyers in each country market will think they are buying a locally made brand.

E. selling numerous product versions (each customized to buyer tastes in one or more countries and sometimes branded for each country), but opting to only sell direct to buyers at the company's website so as to bypass the costs of establishing networks of wholesale/retail dealers in each country market.

Answer 1

The correct answer is letter "C": pursuing the same basic competitive strategy theme (low cost, differentiation, best cost, focused) in all countries where the firm does business but giving local managers some latitude to adjust product attributes to better satisfy local buyers and to adjust production, distribution, and marketing to be responsive to local market conditions.

Step-by-step explanation:

"Think global, act local" is an approach by which firms spread their activities around the world with a standardized product or service. However, different regions imply having different consumers. Then, units in different countries have relative autonomy to adjust the product or service being offered to meer consumers' preferences, expectations, and needs to boost sales, thus, increase profits.