Final answer:
The strategy where Ford Motors standardizes products globally but adapts to local preferences is known as Glocalization. It combines global economies of scale with localized market adjustments, expanding competition and catering to diverse consumer demands.
Step-by-step explanation:
Though Ford Motors standardizes its products across countries, it also tries to adapt to each country's customer preferences. This strategy is an example of b. Glocalization. Glocalization refers to a business strategy that allows a company to cater to local tastes while maintaining a global presence and efficiency. Ford's approach whereby it adjusts features of its vehicles to align with local preferences, while benefiting from global economies of scale, exemplifies this. It acknowledges the need for localization in response to consumer demands within different markets, under the umbrella of standardized global operations to capitalize on the cost advantages. This concept is becoming increasingly relevant in the automotive industry where international trade has expanded competition and consumer choice, prompting automakers like Ford to adjust to various global market conditions.