Question: please help me with cengage chapter 8 global management 1-3 Every company that competes globally needs to make decisions about its product or service mix.
please help me with cengage chapter 8 global management 1-3
Every company that competes globally needs to make decisions about its product or service mix. Some companies will use a global consistency strategy, seeking to achieve economies of scale by producing the same product for sale in all markets, which will increase the number of Items produced and lower the cost per item in markets. Other companies will choose a global adaptation strategy, differentiating their product or service line by customizing offerings to the markets in which they are sold. This decision making requires an understanding of corporate strategy, including goals for profitability as well as the unique tastes and preferences present in global markets. Global Consistency Global Adaptation Global consistency is a corporate strategy chosen by companies that standardize their products or services, policies and procedures, and operations to achieve economies of scale in production, marketing, and other functional areas. Managers in companies that choose to operate with a strategy of global consistency align their decision making with corporate goals for profitability and work in an integrated system of brand building based on the company's strengths. Examples of global consistency include the following: . Selling one product line across multiple markets Using the same packaging and marketing across markets . Considering the consumer as similar across cultures Integrating all business operations under the supervision of one business unit Operating using one set of policies and procedures across markets Managers of companies that choose a global consistency strategy are focused on selling products and services with uniformity, regardless of the unique tastes and preferences of a specific market. Global Consistency Global Adaptation Global adaptation is a corporate strategy chosen by companies that modify their products or services, policies and procedures, and operations to capture diverse markets that have a variety of tastes and preferences. Managers in companies that choose to operate with a strategy of global adaptation align their decision making with corporate goals for product differentiation in markets that allow them to achieve a competitive advantage over foreign competitors through their financial production, and marketing resources. Examples of a strategy of global adaptation Include the following: Customizing products to market tastes and preferences . Using different packaging and marketing across markets . Considering the consumer as diverse across cultures Localizing business operations to accommodate unique market needs Operating using flexible policies and procedures across markets Managers of companies that choose a global adaptation strategy are focused on identifying market preferences and cultural values that necessitate changes from a domestic product and increase the likelihood of product adoption and market success Select the best responses to the following questions. Which of the following fire examples of global consistency? Check all that apply. Using different packaging across markets Using flexible procedures across markets Selling one product line across multiple markets Considering the consumer as similar across markets Select the best responses to the following questions. Which of the following are examples of local adaptation? Check all that apply. Creating one pricing strategy across markets Selling through home country retailers Allowing customers to pay in multiple currencies LE Using retailer input for market merchandising Which of the following fire examples of local adaptation? Check all that apply. Creating one pricing strategy across markets Selling through home country retailers Allowing customers to pay in multiple currencies Using retailer input for market merchandising Select the best responses to the following questions. Which of the following are examples of local adaptation? Check all that apply. Expecting all markets to sell products similarly Hiring workers based on market expectations Providing one warranty across all markets Allowing retailers to promote cultural values



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