In the context of international marketing, what is a characteristic of straight product extension?

Straight product extension is characterized by the fact that a company markets its existing product in a foreign market without making any modifications. This approach retains the same product attributes, features, and branding that successfully appealed to consumers in the home market. By doing so, businesses can leverage their established product reputation and avoid the additional costs and complexities of adapting the product to meet local preferences or regulations.

This strategy is particularly effective in markets where consumer needs and values are similar to those in the home market. Companies can save on both the time and costs related to product development, market research, and adaptation processes, making it a straightforward approach to international expansion.

Other options, like requiring extensive market research or being the most cost-intensive method, do not apply to straight product extension as it generally simplifies the process rather than complicates it. Additionally, while straight product extension might be beneficial for specific product types, claiming it is ideal for all products overlooks the necessity of customization in various markets, particularly for products that are sensitive to cultural or regional distinctions.