Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market

What will be an ideal response?

ANSWER: A firm that adopts a worldwide new-product development strategy is better able to develop products with specifications that are marketable in multiple countries. Ideally, products should be developed for potential worldwide distribution, and unique multinational market requirements are incorporated into the base product whenever technically feasible. A company could also design products to meet regulations and other key requirements in its major market and then meet smaller markets' requirements on a country-by-country basis. The main goal of the global product development process is not to develop a standard product or product line but to build adaptability into products that are expected to achieve worldwide appeal.