Final answer:
Localization is the term used when companies create separate websites for each country they do business in, customizing the content to local languages, cultures, and preferences. This is a strategy multinational corporations use as part of globalization efforts to appeal to each unique market while maintaining an integrated global economy.
Step-by-step explanation:
When companies create separate websites for each country in which they operate, this practice is termed localization of a website. Localization is the process by which a company adapts its offerings, in this case, its website content, to suit local tastes, cultural differences, and language nuances. This strategy is in contrast to standardization, where a company would use the same web content across all countries.
The goal of localization is to make a product, service, or in this case, a website, appear native to its target audience. For instance, a company like McDonald's, which operates globally, may localize its website to include local languages, menu items peculiar to a region, and culturally relevant imagery. This approach can serve to address issues of xenophobia by familiarizing the product within the cultural context of the market.
Localization is part of a broader strategy within multinational corporations driven by globalization, where companies support the notion of global integration while respecting local differences. It reflects the reality that though companies may source materials and labor internationally, the consumer experience needs to cater to local positioning to be effective.