Product globalization

What is product globalization?

Product globalization is the launching of a product in multiple markets. If the product needs to be adapted in any way to function properly in a market, or to be attractive to targeted local buyers, then product globalization requires a certain amount of localization in order to succeed (i.e., to generate the expected sales in new markets).

 

Key benefits

Done well (usually involving localization), product globalization results in:

  • Successful entry into new markets
  • Growth of market share in those markets
  • Greater international name recognition and brand loyalty
 

Related terms