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What is a Multidomestic Strategy?

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A Multidomestic Strategy focuses on extensive customization of products and marketing efforts for individual countries, allowing local subsidiaries to adapt to unique market needs.

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Give an example of a company that uses a Multidomestic Strategy.

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Nestlé customizes its products to meet local tastes, such as offering spices in India and green tea-flavored KitKat bars in China.

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What is a Global Strategy?

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A Global Strategy emphasizes high integration, standardization, and efficiency, centralizing operations and offering the same products worldwide with minimal variations.

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Provide an example of a company that follows a Global Strategy.

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Apple offers standardized products like the iPhone and MacBook in nearly every market, maintaining consistent designs and branding.

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What is a Transnational Strategy?

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A Transnational Strategy seeks to achieve both global efficiency and local responsiveness, balancing competitiveness globally while adapting to local market needs.

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Name a company that exemplifies a Transnational Strategy.

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Unilever balances global integration with local responsiveness by maintaining core global brands while customizing products for local markets.

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What characterizes an International Strategy?

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An International Strategy involves leveraging a company's core competencies in foreign markets with minimal adaptation, focusing on exporting or extending a home-country model.

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Give an example of a company that employs an International Strategy.

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Rolex produces luxury watches with little modification for different markets, maintaining consistent marketing and branding.

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What is the role of Global Integration in multinational corporations?

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Global Integration refers to the extent to which a company standardizes its products and processes across all markets to maximize efficiency and consistency.

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How does Local Responsiveness differ from Global Integration?

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Local Responsiveness is the extent to which a company adapts its products and processes to fit local customer preferences and cultural norms.