An industry dominated by a few large firms, all of which struggle with product differentiation, is known as A. multi-domestic. B. worldwide. C. indigenous. D. global. E. consolidated.

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Business

Logan Fletcher

24 August, 02:17

An industry dominated by a few large firms, all of which struggle with product differentiation, is known as A. multi-domestic. B. worldwide. C. indigenous. D. global. E. consolidated.

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Nathan Huynh · Answer 1

A

Explanation:

Multidomestic

Multidomestic describes a set of strategies used by companies that operate in more than one country at a time. When businesses take their operations into markets overseas, they will naturally tend to act differently than their larger competitors, many of them choosing a multidomestic strategy. A multidomestic company is a business that uses a different approach in each of the markets it operates in.

A good example of a multidomestic company is Nestlé. Nestlé uses a unique marketing strategy and sales approach for each of the markets in which it operates. They conform their products to local tastes by offering different products in different markets.