What is meant by the term ‘cultural globalization

Cultural globalization is viewed as economic globalization in disguise, bringing about the homogenization of global cultures and values by making every place in the world increasingly alike. Thus, the cultural differencs for individuals, communities and nations are declining. Example:
Companies such as CNN, Cola-Cola, McDonalds, Levis, Nike and Disney are no longer just about products. Instead, they are selling cultural identities and ideals that add to the spread of consumerist lifestyle. For examples, Coca-Cola has since the 1960s projected its corporate image as'love and peace', Nike has long associated itself with the spirit of 'Just Do It' and Disney has been about 'realizing its dreams' from the very beginning.