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

The Multicultural Marketing - Essay ExampleToday almost whole major corporations be actively marketing their products beyond their original homeland borders. Infact the issue is generally not whether to market a brand in some other countries or to target multiple audience but rather how to do it (as the same product with the same global advertising campaign, or tailored products and place ads for each country).Today, marketers are much more aware of the significant opportunity that the varying demographic groups present. Whats more, they realize that they can no longer afford to omit the combined buying 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-marketing practices in favor of laser-focused, multicultural marketing efforts.This paper is discussing following points1.Understanding what is multicultural marketing?2.Ways in which ethnicity can be incorporate into marketing strategy.3. Presenting steps 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 curious marketers for multicultural audience. ... This paper although focuses on cross-cultural marketing, the discussion is at the level of the individual nation-state rather than marketing between countries. In multicultural societies the composition of the race 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 MARKETING According to Tharp (2001), decision-makers in organizations in m ulticultural 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 build up 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 still segment audiences in a subculture, if needed, in terms of cultural affinity, cultural identity or acculturation level (tactical adaptation within a subculture) 4) To fortify parameters of culturally acceptable marketing stimuli and 5) to establish a protocol for measuring cultural effectiveness of the stimuli. THE MOST CR ITICAL ISSUES FACED BY MANAGERS The critical issues are defined