Glocalization in a two-level system
In the marketing context, glocalization means the creation of products or services for the global market by adapting them to local cultures.
When global forces interact with local factors?
Glocalization in a two-level system
In the marketing context, glocalization means the creation of products or services for the global market by adapting them to local cultures.
How does globalization affects our local products?
Impacts of globalization include rapid exploitation of specific energy sources , exploitation of virtual water (Hoekstra and Chapagain 2008), increase in pollution, loss of biodiversity, depletion of fish stocks, and biological invasions (Ehrenfield 2005).
How does glocalization affect local markets?
Effects on economies of the local markets
Because glocalization makes the larger companies compete more effectively , the quality of competition should go higher and the prices should go down. Also, more goods would be available in the market. ... This can reduce the competition, which can drive prices higher eventually.
What is the process of glocalization?
Glocalization is the adaptation of global and international products , into the local contexts they’re used and sold in. ... In regards to a particular product or service, this means the adaptation of globally marketed products and services into local markets.
What are the four industry globalizing drivers?
Yip (1995) groups those conditions into four groups of “industry globalization drivers”: market, cost, government and competitive drivers . They are the underlying conditions in each industry that affect the industry globalization potential, i.e. the potential for firms to set a global strategy and compete worldwide.
What is the process of globalization?
In geography, globalization is defined as the set of processes (economic, social, cultural, technological, institutional) that contribute to the relationship between societies and individuals around the world. It is a progressive process by which exchanges and flows between different parts of the world are intensified .
What are the positive and negative effects of globalization?
Some argue that globalization is a positive development as it will give rise to new industries and more jobs in developing countries. Others say globalization is negative in that it will force poorer countries of the world to do whatever the big developed countries tell them to do .
How does globalization negatively affect the economy?
#5: Increase in Social Instabilities
Economic globalization is increasing GDP in all participating countries. ... Globalisation therefore has negative income effects for certain people and regions in the countries involved. This can lead to growing social tensions that have a negative impact on economic development.
What are 3 negative effects of globalization?
Some adverse consequences of globalization include terrorism, job insecurity, currency fluctuation, and price instability .
Why is glocalization bad?
Another disadvantage of glocalization is that it is challenging to achieve . Companies need to hire local people who can provide knowledge about the local culture and preferences of people. If something goes wrong, then the whole effort of glocalization becomes waste.
Why is glocalization so important?
This helps multinational companies to grow and gain trust of the people of particular regions. So, glocalization helps in connecting with the consumers of that region on an emotional level and also leverage its global position . This is the most important aspect that leads to success of the company.
What companies use localization strategy?
- Coca Cola. There is a reason Coca Cola sells nearly 2 billion drinks every day all over the world. ...
- Netflix. When it comes to publishing content adapted for specific regions, Netflix is king! ...
- Nintendo. ...
- Apple. ...
- Kentucky Fried Chicken.
What are the 4 main strands of Globalisation?
Manfred Steger, professor of Global Studies at the University of Hawaii at Manoa argues that globalization has four main dimensions: economic, political, cultural, ecological , with ideological aspects of each category.
Which of the following is an example of glocalization?
Companies which have mastered glocalization are numerous. Starbucks, Lays, Pepsico, KFC , McDonald’s Hindustan Unilever Limited, Ford, Gillette, Subway and so many more are great examples. Glocalization Mantra: Global template; local adaptations.
What is the difference between glocalization and globalization?
Globalization refers to the processes by which a company brings its business to the rest of the world. Internationalization is the practice of designing products, services and internal operations to facilitate expansion into international markets.
