Globalization_Localization_Strategies_Simple_Manisha_Raj.pptx

My presentation

1. Globalization and Localization Strategies in International Business Manisha Raj BBA 1st Semester Reva University

2. Introduction to Globalization in Business Globalization means companies operate in many countries around the world. Key Features: - Expanding into new countries - Selling similar products everywhere Example: McDonald's is in over 100 countries, with similar menus.

3. Introduction to Localization in Business Localization means changing products to fit local preferences and needs. Key Features: - Customizing marketing and products for local cultures - Making changes based on local tastes Example: Netflix makes shows for specific countries like India or Japan.

4. Globalization Strategy Focus: Using the same products in many countries to save costs. Advantages: - Lower costs - Consistent brand image everywhere Example: Apple sells the same iPhones in all countries with small changes.

5. Localization Strategy Focus: Adapting to what people in each country like or need. Advantages: - Happier customers - Better fit for local markets Example: Coca-Cola changes its recipe in different regions to suit local tastes.

6. Hybrid Strategy Hybrid (or 'glocalization') means using the same basic product but adjusting it for local markets. Key Features: - Standard product with local changes - Global image with local appeal Example: Starbucks offers its standard menu but also has local drinks like green tea lattes in Asia.

7. Challenges of Globalization and Localization Globalization Challenges: - Difficult to adjust to local cultures - Government rules in different countries Localization Challenges: - Higher costs for customization - Managing many different products Example: Uber faces different rules and customer behavior in every country.

8. Conclusion Summary: Companies need to balance globalization for cost savings and localization to meet local needs. Takeaway: The best strategy depends on the product and market.