What is the main purpose of an international strategy for a company?

The main purpose of an international strategy for a company is to achieve and maintain a unique and valuable competitive position in the global market. This involves leveraging the firm's strengths, resources, and capabilities to differentiate itself from competitors across different countries and regions. Having a unique competitive position means the company can effectively respond to the varying demands and preferences of international customers, ultimately leading to sustained market share and profitability.

In contrast, maximizing domestic market efficiency primarily focuses on optimizing operations within a single country, which does not encompass the broader objectives of international expansion. Focusing solely on product development would neglect other critical aspects of international strategy, such as market entry modes, pricing strategies, and customer engagement in various markets. Enhancing local market engagement is important but is usually a component of a broader international strategy rather than a standalone goal; it's about aligning products and marketing strategies with local preferences while still pursuing the overarching objective of competitive positioning on a global scale.