Glocalisation: Success Mantra of Globalisation

Abstract

The concept of glocalization is derived from that of globalization and localization signifies that companies should not only think globally but also act locally while addressing business functionalities including branding, marketing, advertising and product promotion. Recently, many multinational giants have successfully penetrated into emerging markets due to their product or service quality but there are cases where companies have failed to earn profits due to lack of glocalization strategies. The concept of glocalization is particularly important to the food industry because of the seamless challenges this industry faces due to the typical differences that exist in the food habits of people belonging to various regions/religions/cultures across the globe. There are numerous examples of companies doing extremely well in their local markets, but when they go global, they fail completely. One of the reasons that can be cited is not adhering to the challenges put forward by cultural and regional differences. Like some animals are considered sacred in one region and are consumed heavily in some others. The glocalization strategies also should take into account various cultural and religious issues like McDonalds and Pizza Hut both modified their menu to take into account the religious beliefs of Hindus and Muslims in India, by not serving beef and pork. This is a research paper focuses on multinational food giants and identifies suitable strategies for establishing themselves and gaining market share in a diverse country like India.In this paper I will more focus on how McDonald and Pizza hut enter in a foreign market inspite the differences in culture and eating habits