Question 3. Nothing less than 400 words for each question..

High Need for Local Responsiveness Multidomestic Strategies-A "Think-Local, Act-Local" Approach A multidomestic strategy is one in which a company varies isproduct offering and competitive a from country to country in an effort to meet differing buyer and to address divergent localmarket itions. It involves having plants pro- duce different product versions for different local markets and adapting marketing and distribution local customs, cultures, regulations, and market requirements. Castrol, a specialist in oil lubricants, produces over 3000 different formulas of lubri- cants to meet the requirements of different climates, vehicle types and uses, and equipment applications that characterize different country markets. In the food prod- ucts industry, it is common for companies to vary the ingredients in their products and sell the localized versions under local brand names to cater to country-specific tastes and eating preferences. Motor vehicle manufacturers routinely produce smaller, more fuel-efficient vehicles for European markets, where roads are narrower and gasoline prices are two to three times higher than in the North American market (where many consumers prefer larger vehicles. The models they manufacture for the Asian market are different yet again and local managers tailor the sales and marketing of these vehicles to local cultures, buyer tastes, and competitive conditions