With the of online research, write a short report on “glocalization.” 1-2 paragraphs

Explanation:

When we combine the two terms of globalization and localization, we come up with the phenomenon of GLOCALIZATION which can be best defined as Thinking Globally, Acting Locally. Defining it more precisely, we can say that when one brand is made, distributed ans sold all around the world but it is tailored and customized according to the taste and preference of consumer in the different markets of the worlds accordingly.

It is done because people of each part of the world have different culture, language preferences, needs and wants. Companies can place and position their products effectively by tailoring their products and offers according to the need of that particular market, consequently, companies can make great profits and customer loyalty in return.

Examples:

Following are all Global brands but they sell products according to the needs of their consumers in different parts of the world.

Lays Chips (They sell different flavors in different parts of the world, according to the taste preference and eating habits of that country)

Maggi Noodles (They sell tikka flavor in most of the Asian countries which is not available in other parts of the world)

Pizza Hut (Pizza hut sell different pizza flavors in different part of the world according to the preferred tastes of that country)