Asked by Chloe Hicks on Jul 15, 2024
Verified
Matrix Inc., an American luxury watch company, is planning to start its operations in Yenkin, a country in South America. Matrix has determined that customers in Yenkin will respond favorably to the same marketing mix as customers in its domestic market. In this case, Matrix _____.
A) can standardize to take advantage of the cost reductions gained through economies of scale
B) should tailor its products and promotions to meet the needs of the customers in Yenkin
C) can avoid the complications of being perceived as an outsider in Yenkin by customizing its products
D) should use a cost-plus pricing strategy
Standardize
To establish and enforce uniform criteria, measurements, or techniques.
Economies of Scale
Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.
Marketing Mix
The collection of decisions regarding product, place, price, and promotion that companies make during the process of bringing a product or service to market.
- Comprehend the benefits and drawbacks of standardized and differentiated marketing strategies in global markets.
Verified Answer
GP
Glory PhilipJul 19, 2024
Final Answer :
A
Explanation :
Matrix can standardize its marketing mix for Yenkin based on the determination that customers there will respond favorably to the same approach as its domestic market, thus benefiting from economies of scale.
Learning Objectives
- Comprehend the benefits and drawbacks of standardized and differentiated marketing strategies in global markets.