Final answer:
Glocalization is falsely attributed to the complete customization of global marketing strategies for each country. Rather, it is the adaptation of a global product or service to local markets while maintaining a global brand strategy. The process of globalization involves integrating diverse markets into a single world market. Therefore, the given statement is false.
Step-by-step explanation:
The statement that glocalization refers to a global marketing strategy in which each of the four Ps (Product, Price, Place, Promotion) is customized for each country is false. Glocalization is actually a combination of globalization and localization, where a product or service is developed and distributed globally but is also adjusted to accommodate the user or consumer in a local market. This means that while the overarching marketing strategy might be global, specific strategies, including aspects of the four Ps, will be adapted to suit local tastes, preferences, and cultural nuances.
Globalization is the trend in which buying and selling in markets have increasingly crossed national borders creating a goods and services market. This market is characterized by firms as sellers of what they produce and households as buyers. The objective of glocalization in this context is to maximize market penetration by ensuring relevance and appeal in different geographical regions.