Magnolia Inc., a high-end apparel company, is operational in six countries.In its effort to increase sales volume, Magnolia decides to tailor advertising to the specific regional market.Which of the following refers to the practice adopted by Magnolia?

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Glocalization is the practice of tailoring global marketing strategies to fit local cultures, customs, and languages. Magnolia Inc.'s effort to tailor its advertising to the specific regional market is an example of glocalization. Choice A (purchasing power parity) refers to the economic theory that currency exchange rates will adjust to equalize the purchasing power of different currencies. Choice B (dumping) refers to the practice of selling goods in a foreign market below the cost of production or at a lower price than in the home market. Choice C (individualism) refers to the cultural value placed on individual achievement and independence in contrast to collectivism, which emphasizes group harmony and cooperation. Choice D (contract manufacturing) refers to the practice of outsourcing manufacturing to third-party contractors.