ion of countries, ideas, knowledge and cultures of people from all across the world to develop a unique and distinctive market of consumers with almost similar tastes, preferences, interests, lifestyles, attitudes and behaviors towards a particular product or service. In other words, globalisation refers to international division of consumers who are both willing and able to purchase homogeneous products or services offered by different companies. In addition, it could be said that marketers divide all potential buyers in an international context and then formulate and implement their marketing, promotion and advertising strategies to cater those consumers. This process may involve manufacturing or production in other nations to achieve cost effectiveness while selling or promoting the produce in other countries where demand exists. (Medina and Duffy, 1998, 223-243) and (Levitt, 1983, 93-95) and (Fischer, 2003)
Localisation is a process of adaptation to a particular geographic region, area, language or culture in an attempt to tap domestic market of a country. It is about giving a ‘local touch or look’ to products or advertising campaigns (that are offered to international buyers) by relating those goods or services to individuals in a specific target market. This process involves developing new products or innovating existing ones, modifying international promotion campaigns and advertising tactics etc after an in-depth analysis of societal taboos, sensitivities, language, demographic factors, culture and desires. This process is sometimes known as Customisation. (Medina and Duffy, 1998, 223-243) and (Baker, 1985, pp. 146-152)
Glocalisation is a process that involves the elements of both globalisation and localisation. It is about tinkering away with the international goods or services to suit the tastes and preferences of domestic consumers from different markets across the globe. (Medina and Duffy, 1998, 223-243)
It is worthwhile to mention the fact ...
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