Key Strategies for Multicultural Marketing

By GMDC

In a recent survey of marketers by the Association of National Advertisers, just 45 percent of respondents said they are satisfied with the results of their companies' multicultural initiatives, and 26 percent said they were somewhat or very dissatisfied. The survey also cited one of the biggest problems within companies is the lack of support from within, with almost half of the individuals surveyed saying they do not get enough internal support and the lack of top management support is inconsistent. With the African-American, Asian-American and Hispanic minority buying power estimated by the Selig Center for Economic Growth to be approaching $2.5 trillion (a $713 billion dollar increase in just 5 years!), learning to serve this market is the most important challenge facing retailers and manufacturers today.

Implementing a Multicultural Approach has several key strategies in creating a blueprint for success. GMDC's "Multicultural Marketing, A Plan for Growth in General Merchandise and Health and Beauty" study is designed to provide a way to organize activities:

Be Culturally Relevant - Address the specific behaviors and expectations that are unique for each ethnic group.

Seek Out Those Who Know - Take advantage of those suppliers, employees, and customers that can help you better understand how to be successful with your multicultural marketing efforts.

Have the Right Stuff - Identify and carry those products that are specifically targeted towards the lifestyles of particular cultures and groups of individuals.

Show That You Care - Know that caring and sharing about friends and family are what unites people around their own cultures and defines for them a sense of identity. Marketing both to the individual health and the broader community interests of customers is a key to legitimacy and success.

Begin With a Celebration - Have fun! Those special events that bring people together create many of the most significant opportunities. Knowing the different traditions, customs, and products that are a part of these events are a significant means of building customer loyalty.

Promote With a Purpose - Set price merchandising, marketing, and advertising, consistent with the expectations of each individual market. Assumptions based on how the broader market responds do not necessarily suggest the most effective ways of marketing to diverse cultures.

To develop a unique approach for multicultural marketing, GMDC's Multicultural Marketing study will assist in reverse acculturation, differentiation strategies and meeting operational challenges. At the same time, the study offers specific solutions to business challenges that enable members to serve their customers and shoppers better, by identifying opportunities with specific products and categories within general merchandise and health and beauty. To find out more, visit www.gmdc.org