Why are many companies developing multicultural marketing programs?
Multicultural marketing programs consist of combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races.
The reasons for developing these programs are
(1) The racial and ethnic diversity of the United States is changing rapidly due to the increases in the African American, Asian, and Hispanic populations, which increases their economic impact.
(2) An accurate understanding of the culture of each group is essential if marketing efforts are to be successful.
(3) Based on an analysis of population demographic data, racial and ethnic groups tend to be concentrated in specific geographic regions.
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Marketing Environment
- How does the Better Business Bureau encourage companies to follow its standards for commerce?
- Describe some of the recent changes in trademark law.
- The ___________ Act was punitive toward monopolies, whereas the ___________ Act was preventive.
- In pure competition there are a ___________ number of sellers.
- How does technology impact customer value?
- What is the difference between a consumer's disposable and discretionary income?
- How are important values such as sustainability reflected in the marketplace today?
- Describe three generational cohorts.
- Explain the major legislation that ensures competition and regulates the elements of the marketing mix.
- Discuss the forms of competition that exist in a market and the key components of competition.
- Describe how technological changes can affect marketing.
- Discuss how economic forces such as macroeconomic conditions and consumer income affect marketing.
- Describe how social forces such as demographics and culture can have an impact on marketing strategy.
- Explain how environmental scanning provides information about social, economic, technological, competitive, and regulatory forces.
- What two actions can the FTC take regarding deceptive or misleading advertising and unfair business practices?
- The Sherman Act focuses on which component of the marketing mix?
- Self-regulation can be described as ______.
- Advertising and promotion are regulated by which governmental body?
- The four issues related to distribution that are monitored by the government are:
- Consumer-oriented federal laws cover what two categories?
- Though the ________ did not explicitly make the practice of price fixing illegal, courts have subsequently relied on it to find it to be so.
- Consumerism can be described as ______.
- Legislation for copyright protection was enhanced in 1998 to include ______.
- The act that makes it unlawful to discriminate in prices charged to different purchasers of the same product is called ______.