Final answer:
Ford Motor Company can benefit from international trade by expanding into new markets, forming strategic alliances, and adapting to local preferences and regulations.
Step-by-step explanation:
Ford Motor Company can benefit from international trade by following some recommendations:
- Expand into new markets: Ford can identify new markets with high demand for automobiles and establish a presence in those countries. By entering new markets, Ford can increase its customer base and boost its revenue.
- Form strategic alliances: Ford can form partnerships or alliances with local companies in different countries to gain market knowledge, access distribution networks, and leverage each other's strengths. Strategic alliances can help Ford overcome barriers to entry and establish a strong foothold in new markets.
- Adapt to local preferences and regulations: Ford should customize its products and marketing strategies to cater to local preferences and comply with local regulations. This can help Ford build strong customer relationships and ensure compliance with local laws.