Product Selection & Strategy Formulation Marketing

Product selection and strategy formulation
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Companies in the United States have adopted various global strategies such as the multi-domestic strategy. It is a strategy whereby a company acknowledges the differences in each country in terms of product preferences, expectations, and needs of the consumers. Instead of using a uniform system to all countries, they tailor their products to meet the characteristics of each country. Characteristics under consideration include clients, religion, culture and language. Additionally, the strategy separates its headquarters from a primary location and set up different headquarters in all countries where their products are sold. The strategy is efficient in ensuring targeted and customized message for each market.
In order to improve the efficiency of the multi-domestic strategy, companies can undertake a strategy plan...