What strategy recommendations would you make for a large global pharmaceutical firm?The relevant facts are:the firm must make very large investments in research and development; patent pay-back period are cut short because of long government approval processes; domestic governments require local approval before any product can be sold; domestic markets have very different restrictions on marketing, distributions, retailing and pricing (some markets require doctors prescriptions, in others governments' set prices, etc.); customers willingness to pay differs widely (in some markets health insurance firms pay, in others locals must pay cash).

• International strategy, exploiting arbitrage and adaptation

• Global strategy, exploiting arbitrage and aggregation

• Multidomestic strategy, exploiting adaption and aggregation

• Transnational strategy exploiting adaptation and aggregation