Glocalization

What is 'Glocalization'

Glocalization is 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.

BREAKING DOWN 'Glocalization'

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.

RELATED TERMS
  1. Fiscal Localism

    Institutionalized monetary exchange focused upon local and regional ...
  2. Customer

    An individual or business that purchases the goods or services ...
  3. Customer Service

    The process of ensuring customer satisfaction with a product ...
  4. Social Media Marketing (SMM)

    The use of social media websites and social networks to market ...
  5. Network Effect

    A phenomenon whereby a good or service becomes more valuable ...
  6. Local Exchange Trading Systems

    A locally organized economic organization that allows members ...
Related Articles
  1. Financial Advisor

    What's Involved in Customer Service?

    Customer service is the part of a business tasked with enhancing customer satisfaction.
  2. Entrepreneurship & Small Business

    Understanding Marketing

    Marketing includes all of the activities of a company associated with buying and selling a product or service.
  3. Investing

    Facebook Users Might Earn Money Via "Tip Jar" (FB)

    Facebook is considering a plan to allow users to earn money from its platform by using tipping jars and making sponsored posts.
  4. Markets

    How Globalization Affects Developed Countries

    The increase in communications technology has companies competing in a global market.
  5. Markets

    Twitter Shares Drop on Disappointing User Numbers

    Twitter misses on user growth, a fact that has trumped its positive earnings results and an uptick in advertising revenue.
  6. Investing

    This Hated Stock Could Soon Be Worth Twice As Much

    Shares of Twitter (NYSE:TWTR) have been slammed lately after weak user growth and an inability to monetize its platform led investors to question the future. The big move in shares of the 14 ...
  7. Markets

    Cashing In On Macroeconomic Trends

    Learn to identify the things that may impact your investments down the road.
  8. Financial Advisor

    Be A One-Stop Shop For Your Clients

    Offering comprehensive financial services can bring in business, but coordination is the key to success.
  9. Insights

    Twitter Increases Character Count (TWTR)

    Twitter increased its character count for tweets this morning.
  10. Markets

    Is Twitter Doomed? (TWTR)

    Twitter has been reporting disappointing earnings for some quarters now. Is the stock doomed?
RELATED FAQS
  1. How do Internet companies profit if they give away their services for free?

    Learn how companies in the Internet sector make a profit when service, content and user applications are offered at no cost ... Read Answer >>
  2. Is good customer service something to look for in a company in which I am considering ...

    Learn about the importance of customer service when deciding whether to invest in a stock. Good customer service can ensure ... Read Answer >>
  3. How does a merger affect the customer?

    Learn how a merger may affect customers of the industry. The effects of mergers may be positive or negative, but there's ... Read Answer >>
  4. What countries represent the largest portion of the global Internet sector?

    Learn which countries are most likely to impact the growing Internet sector based on recent user growth and largest populations ... Read Answer >>
  5. Is there any way to reverse the law of diminishing marginal returns?

    Learn more about how consumer spending, supply and demand impact production decisions. Find out more about the law of diminishing ... Read Answer >>
  6. What are the four types of economic utility?

    Understand the four main types of economic utility that apply to transactions between consumers and businesses: form, time, ... Read Answer >>
Hot Definitions
  1. Glass-Steagall Act

    An act the U.S. Congress passed in 1933 as the Banking Act, which prohibited commercial banks from participating in the investment ...
  2. Quantitative Trading

    Trading strategies based on quantitative analysis which rely on mathematical computations and number crunching to identify ...
  3. Bond Ladder

    A portfolio of fixed-income securities in which each security has a significantly different maturity date. The purpose of ...
  4. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  5. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  6. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
Trading Center