Question : Case Study 12:
ABC Ltd. is a retail company that recently expanded its operations into international markets. It is facing challenges due to differences in cultural practices and consumer preferences in different countries.
Q:- How can understanding the social environment help ABC Ltd. in dealing with differences in cultural practices and consumer preferences in different countries?
Option 1: By implementing standardized marketing strategies globally
Option 2: By ignoring cultural differences and focusing on profitability
Option 3: By adapting to local customs and practices
Option 4: By reducing product prices
Correct Answer: By adapting to local customs and practices
Solution : The correct answer is (C) By adapting to local customs and practices
Understanding the social environment can help ABC Ltd. in dealing with differences in cultural practices and consumer preferences in different countries by enabling the company to adapt to local customs and practices. This approach acknowledges the importance of respecting and aligning with the cultural nuances of each market. By doing so, the company can create marketing strategies and product offerings that are more appealing and relevant to local consumers.
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