Further Developing Local Markets: Ethnic and Multicultural Marketing

Carlos J. Torelli () and Maria A. Rodas ()
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Carlos J. Torelli: University of Illinois Urbana-Champaign
Maria A. Rodas: University of Illinois Urbana-Champaign

Chapter Chapter 15 in Globally-Minded Marketing, 2024, pp 183-195 from Springer

Abstract: Abstract As discussed earlier in the book, a globally-minded marketer not only looks for opportunities abroad, but also leverages cultural insights to further develop ethnic and multicultural segments in their local markets. Seizing the growth opportunity in multicultural marketing is becoming a priority for many marketers, as multicultural consumers in the U.S., for example, comprise 40% of the U.S. population and are the sole contributors to population growth. This multicultural growth, boasting a buying power of over $5 trillion, has been a primary driver of market growth for the past decade. For example, half of P&G’s sales growth in North America came from multicultural segments. This chapter introduces a segmentation framework focused on multicultural consumers and discusses how to integrate communication strategies used to reach these consumers into a global marketing plan.

Keywords: Multicultural Marketing; Demographic Segmentation; Psychographic Segmentation; Multicultural Segments in the U.S.; Multicultural Experience; Language in Communications (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-50812-7_15

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DOI: 10.1007/978-3-031-50812-7_15

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