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Transcription of this question: 3.Jacob Strutz (JS)Jacob Strutz (JS) is an American multinational company that produces jeans. Founded in1860, for 100 years JS enjoyed steady growth in sales, mostly in the United States and thenin Canada and Mexico. In the 1960s and 1970s, when teenagers worldwide began wearingjeans, JS’s sales increased significantly. JSs premier product is Strutz’s No.5 jeans, one ofthe best-known brands in the world.In the late 1970s, JS operated 71 factories in the United States. In 1994, its sales peaked at$7.6 billion worldwide, but then began to decline. In 2002, JS made the decision to close itslast remaining factories and outsource manufacturing to foreign manufacturers, whose qualitywas more difficult to control. By 2017, annual sales were only $4.5 billion. Even sales ofStrutz’s No.5 jeans declined, and JS faced intense competition, including foreign competition.JS briefly experimented with fast fashion, an industry practice developed in the United Statesin response to cheap, foreign imports. In fast fashion, new design concepts are quicklymanufactured once they have been tested at fashion shows. IJnfortunately, fast fashionworked against JS’s brand identity. Surveys indicated that JSs brand has value and inspiresloyalty, though focus groups of young consumers did not perceive JS as cool.JS has been a leader in corporate social responsibility (CSR). Since the 1890s, it haspursued profits through values. More recently, JS introduced Strutz’s chemical-free jeans.Because many of JSs suppliers operate in areas with few pollution regulations, to remainconsistent with its image of CSR, JS is insisting that suppliers follow innovative but expensivechemical-free processes.(a)(b)(c)(d)Define the term multinational company (MNC).Explain the importance to JS of:0)0)brand value;brand loyalty.Draw and label a product life cycle for Strutz’s No.5 jeans.Explain the position of Strutz’s No.5 jeans on the product life cycle.Discuss the role and impact of globalization on the growth and evolution of JS[2][2][2][2][2][10]

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