Abstract
Globalization is a business strategy. Globalization has allowed developing countries to earn money on assets through investments. The related absence of government intervention enabled reduction in corruption, elimination in trade regulation, liberalization of capital markets and an increase in competition. While these processes kept going, jobs were created, technology spread, investment became deep and wages converged. According to David Dollar (2001) globalization demonstrated increased average growth rates and a stable gap between the rich and the poor countries. In the past, local brands were leading the market but these days most of the companies are going global and they are trying to make their brands global, regional or sometimes hybrid (both global and regional). Three main reasons have forced the companies to create global and regional brands (Peter Doyle & Philips Stern). The most important reason for this branding strategy has been reducing the cost.
