Multinationals are corporations or companies that have investment in other countries, but do not have coordinated product offerings in each country. They are more focused on adapting their products and service to each individual local market. That means that they own or control production of goods or services in one or more countries other than their home country. In other words, they are usually large corporations that produce or sell goods or services in various countries. Such companies have offices and/or factories in different countries and usually have a centralized head office where they co-ordinate global management. They are majorly into:
- Importing and exporting goods and services
- Making significant investments in a foreign country
- Buying and selling licenses in foreign markets
- Engaging in contract manufacturing—permitting a local manufacturer in a foreign country to produce their products
- Opening manufacturing facilities or assembly operations in foreign countries
A multinational company has decentralized operations with little communication amongst divisions which makes the local community affect the marketing strategy.
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