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(300 words) *Global Business Environment M6D1
Some international companies choose to follow a multinational (multi domestic) strategy—a strategy of adapting products and their marketing strategies in each national market to suit local preferences. A multinational strategy is just what its name implies—a separate strategy for each of the multiple nations in which a company markets its products. To implement a multinational strategy, companies often establish largely independent, self-contained units (or subsidiaries) in each national market. Each subsidiary typically undertakes its own product research and development, production, and marketing. In many ways, each unit functions largely as an independent company. Multinational strategies are often appropriate for companies in industries in which buyer preferences do not converge across national borders, such as certain food products and some print media.
Respond to the following:
Discuss how international strategies can be applied to save consumers’ money but keep them contented, based on the quality of product they are buying or using. For example, look at the Flying High with Low Fares article and discuss why or why not Ryanair has a good mindset and strategy skills in order to attract customers and keep a good, stable business.