Globalization: The new economic strategy
Globalization: Creating a cultural-neutral product
Globalization is the process by which the experience of everyday life, marked by the distribution of commodities and ideas, can encourage a standardization of cultural expressions around the world. In economic sense, this process means developing a product concept that is culturally neutral, i.e. the marketing concept that can be implemented as an idea anywhere in the world. Global marketing strategy is associated with all existing marketing concepts, such as branding, establishing market share and the like. Globalization is particularly important in consumer industries such as clothing and food. It leads, ultimately, to the so-called denationalization of markets, politics and legal systems.
Globalization of business is a process of integrating in the global economy and establishing oneself in foreign markets. Primarily, a company must adapt its production or services to the target consumer's linguistic and cultural requirements. It is also vitally important to establish a virtual presence on the international marketplace, by launching, for instance, a multilingual corporate web site or even an e-business.
The globalization of high-tech products involves integrating localization throughout a company, after proper internationalization of the product design, as well as marketing, sales, and support in the world market. The globalization of software applications and web sites is associated with adapting these products so that they are linguistically and functionally suitable for use in a different locale. Primarily, globalization is the process of making a product multi-lingual, i.e. all language-related aspects of the program should be separated from the code, and all aspects which vary with the target country handled in a country-independent way. Overall, globalization requires a combination of linguistic, engineering and marketing knowledge that is not easily available. The global strategy differs fundamentally from the traditional approach to technology, business practices, corporate culture, languages, and multiculturalism. The rewards, however, both short- and long-term, can be enormous.