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Further Developing Local Markets: Ethnic and Multicultural Marketing

In: Globally-Minded Marketing

Author

Listed:
  • Carlos J. Torelli

    (University of Illinois Urbana-Champaign)

  • Maria A. Rodas

    (University of Illinois Urbana-Champaign)

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.

Suggested Citation

  • Carlos J. Torelli & Maria A. Rodas, 2024. "Further Developing Local Markets: Ethnic and Multicultural Marketing," Springer Books, in: Globally-Minded Marketing, chapter 0, pages 183-195, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-50812-7_15
    DOI: 10.1007/978-3-031-50812-7_15
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