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Top 20 Multicultural Markets: Toolkit for Marketing Managers
Global Advertising Strategies, Nov 2005, Pages: 97
Marketers looking for a concise guide to proven ethnic markets now have a powerful tool. Written with customers in mind and using experience gained in real advertising campaigns, this report offers practical guidelines needed to tap into the top 20 niche ethnic markets in the U.S.
There are 20 ethnic markets in the US, garnering a substantial return on marketing investment, as based on the author's estimation and experience. These markets were selected by Global staff as a result of analysis of multiple past campaigns and with customer feedback in mind.
The demographics listed in this report include descriptions of Americans of Bosnian, Croatian, Czech, Egyptian, Greek, Hungarian, South Indian, Iranian, Israeli, Jordanian, Lebanese, Lithuanian, Polish, Romanian, Russian, Serbian, Slovak, Turkish and Ukrainian extraction. Descriptions of these markets include demographic information including maps of where these niche markets are geographically located within the U.S., psychographics of what makes these niche markets different, key media listings and notable business connections with overseas economies and with the U.S. mainstream.
This report is meant to help industry executives and professional marketers craft better multicultural marketing strategies by selecting their targets among U.S. ethnic communities with greater precision.
For marketers new to the multicultural segment the report lays out some of the history and core philosophy of ethnic marketing and explains the discipline's genesis over the last 30 years. The report names agencies instrumental to ushering new ethnic markets into the mainstream, and offers interesting insights from some of the country's key multicultural marketers.
The report contains four case studies that illustrate how real businesses have used multicultural marketing to be successful in the U.S. At the end of the day, it is about fostering loyalty and using loyal customers to grow a successful business. These case studies help illustrate a key point about marketing to ethnic niches -- no matter how small, each ethnic niche makes up an important segment of American society with vast consumer power that often stretches beyond an immediate sale. Finding commercially viable ways to identify with such niches is what successful multicultural marketing is all about.
Finally, the report gives readers the information they need to make intelligent decisions about new ethnic markets. Each of the 20 ethnic groups profiled includes a map showing where these groups live. Maps are colour coded, illustrating areas where densities are the highest. Each profile also contains a psychographic section which gives marketers hard data on these groups, information like income and education levels, as well as softer facts, like affinity for calling cards versus direct dial. Additionally, each market's profile includes detailed information about businesses that are either owned by members of the ethnic group or are active in international trade benefiting the minority. And last but not least, each profile contains descriptions of ethnic media categorized by radio, TV, newspapers, major Web communities and events, giving marketers the necessary tools to run both above and below the line marketing strategies.
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