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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 ...
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 ...
Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. [ 1 ] It is an important component of business strategy [ 2 ] and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the ...
In marketing, geomarketing (also called marketing geography) is a discipline that uses geolocation (geographic information) in the process of planning and implementation of marketing activities. [1] It can be used in any aspect of the marketing mix — the product, price, promotion, or place (geo targeting). Market segments can also correlate ...
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 ...
Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. [1] The term globalization first appeared in the early 20th century (supplanting an earlier French term mondialisation), developed its current meaning sometime in the ...
Language localisation (or language localization) is the process of adapting a product's translation to a specific country or region.It is the second phase of a larger process of product translation and cultural adaptation (for specific countries, regions, cultures or groups) to account for differences in distinct markets, a process known as internationalisation and localisation.
Market penetration refers to the successful selling of a product or service in a specific market, and it is a measure of the amount of sales volume of an existing good or service compared to the total target market for that product or service. [2] Market penetration involves targeting on selling existing goods or services in the targeted ...