Final answer:
Fiona is aiming to mitigate economic and social risks by sampling a new product in Madrid to assess customer preferences. These strategies help her company navigate external factors and improve market success while potentially offering quality products and knowledge exchange benefits.
Step-by-step explanation:
Fiona's company is seeking to reduce the economic and social risks associated with the introduction of a new product in Madrid by distributing samples to gauge consumer preferences. These economic risks are external factors over which individuals have very little control, such as natural disasters, wars, or unemployment that affect market conditions. By sampling the product with potential customers, Fiona's company aims to reduce the uncertainty and improve their chances of success, ultimately benefiting the consumer with potentially better quality products due to increased competition in the market.
Understanding local consumer behavior can lead to improvements in the product, which can have a positive impact on the company's bottom line and spur economic gains. Additionally, by participating in international trade and competition, there is often an exchange of knowledge involving production, technology, management, finance, and law, which can offer immense advantages to both businesses and consumers.