Glocalization
A neologism combining the terms “Globalization” and “Localization”, it describes the process whereby goods and services are transported globally, but adapted to the local standards of a particular community. It is believed that consumers will be more attracted to products if they are re- designed according to local customs, values, and interests. One good example is that of the global franchise McDonalds: in India, there are more vegetarian options on the menu to cater to the Hindu community. In this way, the global business market adapts to local market conditions.
