Glocalization refers to developing and distributing products or services globally but tailoring them to local markets by accommodating local laws, customs, or consumer preferences. Companies like Yahoo practice glocalization by offering localized versions of their websites in over 25 countries with localized content and languages. Many public and private companies use glocalization to build customer bases and increase revenues by adapting products to local tastes, as seen in examples of foods, drinks, and retail chains customized for specific international markets.
2. Defining “Glocalization”
A combination of the words "globalization" and "localization" used to describe
a product or service that is developed and distributed globally, but is also
fashioned to accommodate the user or consumer in a local market. This means
that the product or service may be tailored to conform with local laws,
customs or consumer preferences. Products or services that are effectively
"glocalized" are, by definition, going to be of much greater interest to the end
user.
Yahoo! is an example of a company that practices glocalization. It markets a
portal that is viewed worldwide and offers different versions of its website
(and related services) for different users. For example, it provides content and
language variations in some 25 countries including China, Russia and Canada.
It also customizes content to appeal to individuals in those locations.
A number of both public and private companies currently practice glocalization
in an effort to build their customer bases and grow revenues.
Read more:
http://www.investopedia.com/terms/g/glocalization.asp#ixzz205ULn1Vb
