Firms use four basic strategies to compete in the international environment.These are:
A) a cultural literacy, an ethnocentric strategy, a nationalistic strategy, a global strategy
B) a cross-cultural strategy, a trade block strategy, a regional strategy, and a world strategy
C) a domestic-based strategy, an international-focused strategy, a local/regional-based strategy, and a cultural-based strategy
D) an international strategy, a regional strategy, a global strategy, and a world strategy
E) an international strategy, a multidomestic strategy, a global strategy, and a transnational strategy

Question

Quizplus · Accepted Answer

The four basic strategies firms use to compete in the international environment are: international strategy, multidomestic strategy, global strategy, and transnational strategy. This is known as the "International strategy typology." The international strategy involves exporting products to foreign markets. The multidomestic strategy involves customizing products and marketing strategies to local markets. The global strategy involves standardizing products and marketing strategies across international markets. The transnational strategy involves combining elements of global and multidomestic strategies to achieve both efficiency and local responsiveness. Option E correctly lists all four strategies.

Firms Use Four Basic Strategies to Compete in the International