Which of the following is NOT a competitive strategy for firms in foreign markets?

Price discounting is not considered a competitive strategy specifically for firms operating in foreign markets, as it is a common pricing tactic that can be applied in any market, domestic or international. Competitive strategies in foreign markets focus more on establishing a presence, building brand recognition, and aligning with local consumer preferences, rather than simply reducing prices to attract customers.

Franchising, wholly owned subsidiaries, and foreign branching are all strategic methods that companies use to enter and compete in foreign markets. Franchising allows for rapid expansion through local partners, wholly owned subsidiaries provide greater control and the opportunity to fully integrate into the local market, and foreign branching involves establishing branches or offices to facilitate operations abroad. Each of these strategies is tailored to leverage the unique market opportunities and challenges present in international contexts, whereas price discounting does not inherently address those competitive elements.