What is Glocalization? Globalization vs Glocalization with examples of Apple and McDonald's (268)

View all our courses and get certified on https://academy.marketing91.com Glocalization is a business process where products are produced for distribution at a global level and are also adjusted to meet the requirements of the local market. Glocalization is a strategy adopted by international companies that modifies their products to suit local preferences and meet their specific demands successfully. Origin of Glocalization The term Glocalization was used for the first time by economists in Japan to describe their worldwide marketing technique. In 1980 Roland Robertson, a prominent sociologist, mentioned and popularized it through “Harvard Business Review”. Globalization vs Glocalization Globalization refers to a process where an organization introduces its product to the global market whereas in Glocalization the products are modified and adapted to meet the demands of the local market. Globalization Example – Apple Glocalization Example – McDonald's Advantages of Glocalization 1. Larger product reach 2. Local communities are introduced to foreign cultures 3. Access to new markets 4. Modifying products to suit local needs help to gain trust 5. Access to new talent 6. Helps in connecting with locals and establishing a strong relationship that can leverage their brand position 7. Increase in sales 8. Minimize inequality gap 9. Reduced prices 10. Global recognition of a brand 11. Multinational companies bring in foreign revenues 12. Provides employment opportunities Disadvantages of Glocalization 1. It is not possible to realize local economies or transfer core competencies to foreign markets 2. It is not easy to implement a glocal strategy 3. The chance of failure is high 4. Has received backlash from local players 5. Has a direct impact on local layers 6. The rise in cultural conflicts 7. Uneven wealth distribution 8. Place a burden on the environment 9. Cut-throat competition 10. Time-consuming process 11. Expensive 12. Foreign worker exploitation Globalization Examples 1. McDonald’s 2. Netflix 3. Nike 4. IKEA 5. Amazon in India 6. Starbucks in Australia 7. Coca Cola – Sunset Campaign 8. Kellogg’s - Unsuccessful First Foray into INDIA This video is on Glocalization and it has the following sub-topics. Time Stamps 0:00 Glocalization Introduction 00:20 What is Glocalization? 00:59 Origin of Glocalization 01:30 Globalization vs Glocalization 01:39 Example – Apple 01:45 Example – McDonald's 01:48 Advantages of Glocalization 02:00 Disadvantages of Glocalization 02:12 Glocalization Examples 02:14 Glocalization Examples - McDonald’s 02:22 Netflix 02:31 Nike 02:43 IKEA 03:13 Amazon in India 03:32 Example – Starbucks in Australia 04:08 Coca Cola – Sunset Campaign 04:36 Kellogg’s - Unsuccessful First Foray into INDIA