Create a 7 pages page paper that discusses the multicultural marketing. Today almost all major corporations are actively marketing their products beyond their original homeland borders. Infact the issue is generally not whether to market a brand in 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 localized ads for each country).
Today, marketers are much more aware of the significant opportunity that the varying demographic groups present. What’s more, they realize that they can no longer afford to neglect 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 points:
1.Understanding what is multicultural marketing?
2.Ways in which ethnicity can be incorporated 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 unique marketers for multicultural audience.