Say “hola” to glocalization

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Global brands need local market strategies to prosper in foreign markets

Product quality and service standards are the main reasons brands are well recognized, but a company’s ability to “glocalize” also determines the extent of its global footprint.

Let us take a leading global retailer as an example. This US-based retail giant learned a valuable lesson back in 1998 when its traditional greeting practice was found to alienate consumers at its German stores. The friendly gesture and welcoming smile had the opposite effect in that country.

It is a different picture today. Companies now understand the necessity of adapting to local markets, cultures, and preferences. Lays is a household name in India and Siberia, but not necessarily because their people share the same cravings for salted chips as the rest of the world. The Magic Masala and Red Caviar flavors, exclusive to each region respectively, are testament to the effectiveness of the brand’s international marketing strategy.

Glocalization also extends into technology, and how brands need to adapt for specific markets, down to each layer of the operational structure. Ultimately, it revolves around delivering the best possible customer experience. But as top global brands have shown, it takes more than just proper translations and custom advertising to be a leader in multiple foreign markets. A strong glocalization strategy is essential.

Click here to read the full article: Global brand, local market: 5 ways to put ‘glocalization’ to work