Transcreation and translation are related, but not identical activities. The former means taking a concept in one language and completely recreating it in another, without trying to be literally faithful to the text, but to obtain a similar emotional response in the destination language. Because of cultural differences, changes in the context of the message are sometimes needed to trigger the same emotion.
There are other terms like creative translation and cross-market copywriting which encompass similar ideas.
There are also other concepts and services whose purpose is to communicate a message to a global audience. Thus, in the world of translation, we talk about internationalisation, globalisation and localisation. You may sometimes see these terms written as i18n (internationalisation), g11n (globalisation) and l10n (localisation).