Most people who migrate to another nation bring with them their cultural habits and norms. No matter how "anti-nationalistic" that migrant may be towards their native country, they still bring with them their culture. Some voluntarily and quickly assimilate to their new country's culture to prevent problems and ridicule. However, their culture remains deep rooted and almost impossible to shake.
When developing a marketing strategy to target a cross cultural or "diverse" market segment, these deep rooted needs and wants should be uncovered. If the strategy does not address cultural differences, opportunities will be missed. With larger markets these missed opportunities may not seem important or even evident.
Companies that are unwilling or unable to properly segment their markets into well defined sub-segments are using the obsolete approach of a "one-size-fits-all" strategy. These companies are defning their market segments too broad. For example they incorrectly see all Hispanics as having tastes, preferences and needs that are similar only because they speak Spanish. Likewise they view all married women between the ages of 40 and 45 the same, only because they have similar body parts. I could go on but won't. Just as this may seem obvious the challenge comes in uncovering the suttle differences that are large enough to provide an atractive return on investment.
The marketing strategist that seizes these opportunities will be nicely rewarded with incremental revenue and market share growth.
When developing a marketing strategy to target a cross cultural or "diverse" market segment, these deep rooted needs and wants should be uncovered. If the strategy does not address cultural differences, opportunities will be missed. With larger markets these missed opportunities may not seem important or even evident.
Companies that are unwilling or unable to properly segment their markets into well defined sub-segments are using the obsolete approach of a "one-size-fits-all" strategy. These companies are defning their market segments too broad. For example they incorrectly see all Hispanics as having tastes, preferences and needs that are similar only because they speak Spanish. Likewise they view all married women between the ages of 40 and 45 the same, only because they have similar body parts. I could go on but won't. Just as this may seem obvious the challenge comes in uncovering the suttle differences that are large enough to provide an atractive return on investment.
The marketing strategist that seizes these opportunities will be nicely rewarded with incremental revenue and market share growth.
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great way to share marketing strategy .thanks
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