The Multicultural Marketing Essay Example | Topics and Well Written Essays - 1750 words

The Multicultural Marketing - Essay moralToday almost all major corporations are actively trade their products beyond their original country of origin borders. Infact the issue is generally not whether to market a brand in other countries or to set multiple audience but rather how to do it (as the same product with the same global advertizing campaign, or tailored products and localized ads for each country).Today, marketers are much more aware of the significant fortune that the varying demographic groups present. Whats more, they realize that they can no longer afford to neglect the combined purchase power of ethnic Americans who, according to estimates, make up $1.3 trillion, or 18.5%, of all US buying. To appeal to these highly lucrative and diverse audiences, marketers are abandoning traditional mass- market practices in favor of laser-focused, multicultural marketing efforts.This paper is discussing succeeding(a) points1.Understanding what is multicultural marketing?2.W ays in which ethnicity can be incorporated into marketing strategy.3. Presenting go that how a marketer can reach its diverse customers in best possible way. 4.Importance of marketing for multicultural audience, and the benefits and advantages from being unique marketers for multicultural audience. ... This paper although focuses on cross-cultural marketing, the discussion is at the direct of the individual nation-state rather than marketing between countries. In multicultural societies the composition of the population can be highly culturally diverse, comprising many ethnic groups which necessitate a cross cultural approach to marketing strategy and management as suggested by Rugimbana and Nwanko (2003). Here it is important to highlight the importance of ethnicity in marketing in multicultural societies or as WiLkison and Cheng (1999 106) refer to it international marketing at home. TECHNIQUES FOR MULTICULTURAL market According to Tharp (2001), decision-makers in organizations in multicultural markets should have the skill of border mentality identifying multiple situational-cultural meanings, or should perform the role of transmigrants bridging or overlapping agents among two or more subcultures. In order to be broad minded following techniques should be adopted 1) To spot patterns that allow subcultures to be grouped together, so that a common marketing Strategy may be extended to several subcultures in a group (transcultural marketing) 2) To develop a distinct marketing strategy for each subculture, if there is a significantly distinct cultural dimension that is important to the specific culture (multicultural marketing) 3) To further segment audiences in a subculture, if needed, in terms of cultural affinity, cultural identity or acculturation level (tactical allowance within a subculture) 4) To develop parameters of culturally acceptable marketing stimuli and 5) to establish a protocol for meter cultural effectiveness of the stimuli. THE MOST CR ITICAL ISSUES FACED BY MANAGERS The critical issues are defined