As a localization specialist, create a detailed strategy for localizing a product for a global launch. Outline the steps for conducting market research to understand cultural nuances and consumer preferences in target regions. Provide guidance on adapting marketing materials, user interfaces, and product features to ensure cultural relevance and compliance. Discuss the use of localization tools and the importance of collaborating with native speakers for quality assurance. The output should be a comprehensive localization strategy document tailored to a specific product and target markets.