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.

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.

Investment dictionary. . 2012.

Look at other dictionaries:

  • glocalization — glo‧cal‧i‧za‧tion [ˌgləʊkəlaɪˈzeɪʆn ǁ ˌgloʊkələ ] also glocalisation noun [uncountable] JOURNALISM MARKETING the idea that companies should think globally, but use methods in each particular place that are suited to it: • Mitsubishi Bank… …   Financial and business terms

  • glocalization — UK [ˌɡləʊkəlaɪˈzeɪʃ(ə)n] US [ˌɡloʊkəlaɪˈzeɪʃ(ə)n] noun [uncountable] business the process of changing products or services that are sold all over the world to suit people in different local markets Thesaurus: to do business and relating to doing… …   Useful english dictionary

  • glocalization — (GLOH.kuh.lye.zay.shun) n. The creation of products or services intended for the global market, but customized to suit the local culture. Example Citation: The term glocalization , which first started appearing among academic circles during the… …   New words

  • glocalization — Gen Mgt the process of tailoring products or services to different local markets around the world. Glocalization is a combination of globalization and localization. Improved communication and advancements in technology have made worldwide markets …   The ultimate business dictionary

  • glocalization — noun The global distribution of a product or service that is tailored to local markets …   Wiktionary

  • glocalization — UK [ˌɡləʊkəlaɪˈzeɪʃ(ə)n] / US [ˌɡloʊkəlaɪˈzeɪʃ(ə)n] noun [uncountable] business the process of changing products or services that are sold all over the world to suit people in different local markets …   English dictionary

  • ГЛОКАЛИЗАЦИЯ — (GLOCALIZATION) Термин, заимствованный социологами из маркетинговых стратегий глобальных компаний, которые, стремясь удовлетворить местные вкусы, вносят те или иные незначительные модификации в свою продукцию в зависимости от того, на какой… …   Социологический словарь

  • Glocalisation — (or glocalization) is a portmanteau word of globalization and localization. By definition, the term “glocal” refers to the individual, group, division, unit, organisation, and community which is willing and able to “think globally and act locally …   Wikipedia

  • Israeli hip hop — History of Hip Hop in Israel= Although Native Hebrew hip hop gain popularity only during the 1990s, stemming from global influences, traces of it could been during the mid 1980s. Yair Nitzani, then a member of the Israeli rock group, Tislam ,… …   Wikipedia

  • Glocal Forum — The Glocal Forum is an international organization in the field of city to city cooperation; encouraging peace building and international development in the non governmental sector. It emphasizes the central role of cities in international… …   Wikipedia

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