Globalisation, localisation and glocalisation in terms of international marketing strategy

Introduction
A key objective of this paper is, using various theoretical frameworks, to analyse what the terms “globalisation”, “localisation” and “glocalisation” mean in context of inte
ational marketing strategy. Furthermore, this analysis also involves examples from different brands in order to illustrate how successfully companies, who promote these brands, employ global, local and glocal marketing strategies.
The main body of this report is represented in three main chapters. The first chapter analyses globalisation in context of inte
ational marketing strategy and gives examples of how global companies pursue their global strategies. In the second chapter the local marketing strategy and an example of its implementation are discussed. The third chapter describes glocalisation in context of inte
ational marketing strategy with examples from global brands. At the end of this report conclusion is drawn which comes up with results of the analysis.

Conclusion
As result of analysis, which was implemented in this report, it was found out that the concepts of globalisation and localisation are mutually opposed. Whereas global marketing strategy involves offering one standardised product all over the world, local marketing strategy entails product adaptation to the specific needs of a particular market. Glocalisation successfully combines elements of both glocalisation and globalisation. According to Ohmae (1989), the key principle behind glocal marketing strategy can be formulated in the maxim “think global, act local”. In other words, glocal marketing strategy enables global companies to modify their product in accordance with local needs in order to respond to variations of consumer demand worldwide.
Considering the fact that in most contemporary markets all over the world it can be not suitable to follow a true local or global strategy due to the different cultures, tastes and ways of doing business, the use of only local or global strategy can be misleading in context of inte
ational business. That is why, nowadays, it can be highly recommended for global business to pursue a glocal strategy, for example, as Coca-Cola does.