23. Which of the following supports the argument that customer demands for local

Question

23. Which of the following supports the argument that customer demands for local customization are on the decline worldwide?

A. Local and indigenous industries are increasingly filling up available demand.

B. High costs of local customization are deterring companies from doing so.

C. Governments across the world are standardizing their legal procedures.

D. Customer tastes have converged worldwide.

E. Managers worldwide ignore the differences in consumer tastes and preferences.

24. Describe the localization strategy.

25. First-mover disadvantages refer to:

A. disadvantages associated with entering a foreign market before other international businesses.

B. costs that a late entrant to a foreign market has to bear.

C. a direct restriction on the quantity of a good that can be imported into a country.

D. imperfections in the operation of the market mechanism.

E. disadvantages experienced by being a late entrant in a foreign market.

Explanation / Answer

23. C. Governments across the world are standardizing their legal procedures.

24. Localization strategy is the strategy of adapting a product to a specific local or market. It means adjust firm's product in the language or culture of local people so that they find the product attractive in the market.

25. A. disadvantages associated with entering a foreign market before other international businesses.

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