To be responsive to local pressures, companies must option c. <u>differentiate</u> their offerings and strategies from country to country to reflect local consumer.
<h3>What is Local responsiveness to pressure?</h3>
The degree to which a corporation needs modify its goods and operating procedures to accommodate local requirements is known as local responsiveness. Four fundamental worldwide business strategies are produced by the two dimensions: export, standardization, multi domestic, and transnational.
In other words, local responsiveness refers to how much a company must alter its operations and/or products in order to accommodate those in different nations.
Hence a firm may not be able to fully benefit from location economies and experience curve because of pressures for local responsiveness. While there are advantages to such personalization, it also hinders a company's potential to realize large experience curve and geographic economies.
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Answer:
One way to increase reliability is to: improve component design
Explanation:
It is expedient to know that when one improves component design, it enables customers to align more with trust in such organization. This boosts confidence customers has in such organization and increases their chances of reliability by their customers.
Answer:
Vicarious consumption refers to showing a family's (or individual) social status through the things that they purchase, i.e. keeping up with the Joneses.
Advertising links the desire to be socially recognized and accepted with the possession of material goods. This is exactly what vicarious consumption is all about. E.g. if most of your classmates use expensive Nike shoes, you will feel different if you wear cheap shoes. If you add this feeling of being different plus Nike ads reinforcing that feeling, then you will at least consider buying Nike shoes, or whichever brand is popular among your friends.
The same thing applies to your parents, e.g. if your parents' friends all buy large SUVs, then your parents will feel different if they buy a sedan even if they would be happy with it. Again, advertisement plays an important role here because it shows SUVs as the appropriate cars for successful families (and the larger the SUV, the more successful you are).
<span>A convenience good is an item a consumer can get because its widely available and can be purchased with minimum effort.
So toilet paper, toothpaste, tampons, and floss could all be examples of staple convenience goods that people buy on a regular basis.</span>
