The United Sates has seen a continuous expansion of its multicultural population. The market no longer speaks to one ethnic group vs. the other it has now become saturated with several immigrants and second or third multicultural generations. The market no longer looks the same. It has become necessary to examine how to best win in this new marketplace. Creating a transition from Multicultural Marketing to a Total Market Strategy.
What exactly is a Total Market Strategy?
Why has it become the focus for companies like Coca-Cola and McDonalds?
Multicultural Marketing focuses on marketing to audiences of a specific ethnicity an ethnicity outside of the country’s majority called the general market. This form of marketing took into consideration the cultural nuances such as language and traditions. Translating into distinct and separate marketing executions including ideas, budgets and teams.
A social shift happened and the market no longer confines itself within their cultural boundaries. The rapid growth of the multicultural population creating a cross-cultural ecosystem that forced companies to reassess and break away from semantic cultural distinctions. The general market was no longer a minority but the majority affecting most company’s bottom line forcing them to implement strategies that embrace the social shift.
Enter, Total Market Strategy an integrated comprehensive approach for marketing to a multicultural and cross-cultural market place that sees its consumers in unison. This has manifested itself into an integration and adaptation process for marketers. Multiculturalism is now integrated into every step no longer dividing into separate sectors. The total market approach places everything into one team, one budget, and one idea capitalizing on the growth of the multicultural market. The same idea is adapted for different audiences taking into consideration cultural nuances creating less target segmentation and allowing for a broader strategy that compels all in the marketplace.
Recognizing the needs of the consumer across the board without homogenizing the communication between a brand and its audience. A total market Strategy gives a voice to cultural nuances with one message powerfully connecting a company to its audience across the board. There is a new norm that can only be fulfilled through a Total Market Strategy.
By: Natalie Folgar, Marketing Manager