Which of the following are the three potential global product strategies?

• A. Selling a product in host country with minor adaptations from what is sold in the home country
• B. Selling the same product or service in the home and host country
• C. Selling a completely new product in the host country
• D. All of the above

Answer: (D)

Three global product strategies exist: keep the product the same across markets (standardization), adapt the product for local markets (localization), or create a completely new product for a specific market (invention). Keeping the product uniform across home and host countries is standardization, which leverages scale and consistent branding. Adapting the product with minor changes to fit local tastes, regulations, or usage is localization, acknowledging that one size doesn’t fit every market. Developing a new product specifically for the host market is invention, aimed at meeting unique local needs that nothing else covers. Since these are the three main paths firms use to manage products internationally, all of these approaches together represent the full set of global product strategies.