Marketing is most effective when
the messaging, format, and device are targeted to the right audience, at the
right time, on the right platform. The
shift from traditional media to digital media generated a shift from mass media
to targeted media. Mass media had one
message and pushed it out to the general market. Digital (and emerging media) allows for more relevant,
targeted messaging. While the evolution
of digital devices has transformed the ways brands communicate, the audience is
transforming as well.
Based on the US census, racial
and ethnic minorities make up about half of children under the age of five. Within the next five years, it’s projected
that minorities will make up more than half of children under eighteen. This rapid expansion of minorities is
signaling to brands to reanalyze marketing strategies and rethink
communications.
Multicultural marketing is a buzz
word that is popping up in every marketer’s boardroom. Previously, multicultural marketing has been
an afterthought or a separate initiative during key time periods, such as Black
History Month or Hispanic Heritage Month.
With the shift in population growth, marketers can’t ignore the
demographic trends any longer if they wish to be successful. Rather than an afterthought or a separate,
isolated initiative, multicultural marketing needs to be built into all aspects
of everything a marketer does. It’s
projected that by 2043, minorities will become the majority in the US. In order to have a total market strategy,
marketers need to develop integrated marketing strategies, strategically
targeted to market segments.
No comments:
Post a Comment