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Global marketing is defined as “ marketing on a worldwide scale reconciling or taking global operational differences, similarities and opportunities to reach global objectives". [1][2] Global marketing is also a field of study in general business management that markets products, solutions, and services to customers locally, nationally, and ...
Glocalization or glocalisation (a portmanteau of globalization and localism) is the "simultaneous occurrence of both universalizing and particularizing tendencies in contemporary social, political, and economic systems". [1] The concept comes from the Japanese word dochakuka and "represents a challenge to simplistic conceptions of globalization ...
Website localization is the process of adapting an existing website to local language and culture in the target market. [ 1 ] It is the process of adapting a website into a different linguistic and cultural context [ 2 ] — involving much more than the simple translation of text. This modification process must reflect specific language and ...
Multicultural marketing, also known as ethnic marketing, is a strategic approach in marketing aimed at specific ethnic audiences distinct from the majority culture within a country, often referred to as the "general market." This practice leverages the unique cultural attributes of ethnic groups—including language, traditions, celebrations ...
Cultural homogenization. Cultural homogenization is an aspect of cultural globalization, [1][2] listed as one of its main characteristics, [3] and refers to the reduction in cultural diversity [4] through the popularization and diffusion of a wide array of cultural symbols—not only physical objects but customs, ideas and values. [3]
CAGE Distance Framework. The CAGE Distance Framework identifies Cultural, Administrative, Geographic and Economic differences or distances between countries that companies should address when crafting international strategies. [1] It may also be used to understand patterns of trade, capital, information, and people flows. [2]
Place branding (includes place marketing and place promotion) is a term based on the idea that " cities and regions can be branded," whereby branding techniques and other marketing strategies are applied to "the economic, political and cultural development of cities, regions and countries." [ 1 ] As opposed to the branding of products and ...
Market segmentation is the process of dividing mass markets into groups with similar needs and wants. [2] The rationale for market segmentation is that in order to achieve competitive advantage and superior performance, firms should: "(1) identify segments of industry demand, (2) target specific segments of demand, and (3) develop specific 'marketing mixes' for each targeted market segment ...