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(Solved) Write reply to following paragraph :(about 50-100 words,very short reply):


Write reply to following paragraph :(about 50-100 words,very short reply):

There are many examples of companies that develop a core product and then change it slightly in order to sell it in other countries without having to open up completely new manufacturing plants around the globe. 

One example of this international strategy is the tractor company Caterpillar. Caterpillar designed a core set of equipment and tractors in the U.S. but those machines aren't always suitable to the needs of other countries because of their differences in building styles and codes. For this reason, in order to stay a competitive force in this business, Caterpillar had to change their products to fit different markets. In order to do this, they were smart and saved a lot of money by making slight changes to their current products rather than completely redesigning new ones and having to develop and open new manufacturing plants for the new products. 

Another example of product differentiation may be the design of cars from countries that drive on the right vs. the left side of the road. This cultural difference leads to the switch of the steering wheel being on the left or right side of the car. The U.S. consumers also like large SUV's and trucks for everyday use whereas in Europe they are pretty much only used as practical vehicles when they are needed. This creates a larger demand for these specific types of vehicles in certain parts of the world.

If firms are able to develop products that only need slight modification from country to country, then firms can centralize production in a location with a comparative advantage and that allows them to reduce costs and maximize output throughout the world.

 


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