Ethnic Marketing: Adapting Strategies to the Diversity of Cultural Consumers

Introduction.In today's world, ethnic marketing is proving to be an important tool for attracting the attention of different ethnic consumer groups.Companies increasingly need to adapt their marketing strategies to different cultural and ethnic consumer groups due to globalization, the growing number of ethnic minorities, increased attention to cultural diversity and the competitive advantage it can provide in the market.This article examines the main strategies of ethnic marketing.The article discusses five types of audience segmentation in ethnic marketing, the role of cultural characteristics in marketing campaigns, and the effectiveness of communication and product adaptation.Purpose.The purpose of the article is to study ethnic marketing in order to adapt strategies to the diversity of cultural consumers.Results.The article identifies the main strategies of ethnic marketing, five types of audience segmentation in ethnic marketing, and discusses the role of cultural characteristics in marketing campaigns.Conclusions.In today's intercultural environment, it is increasingly important to understand and take into account cultural peculiarities when developing marketing strategies for different ethnic groups.

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Publication Details

Journal
Modern Economics
Published
2024-12-25
DOI
https://doi.org/10.31521/modecon.v46(2024)-16
Primary Topic
Migration, Ethnicity, and Economy
Type
article
Field-Weighted Citation Impact
0.00
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article

Ethnic Marketing: Adapting Strategies to the Diversity of Cultural Consumers

Viktoriia Stamat, Anastasiia Sarkova
Modern Economics
Migration, Ethnicity, and Economy
article

Ethnic Marketing: Adapting Strategies to the Diversity of Cultural Consumers

Viktoriia Stamat, Anastasiia Sarkova
article en

Abstract

Introduction.In today's world, ethnic marketing is proving to be an important tool for attracting the attention of different ethnic consumer groups.Companies increasingly need to adapt their marketing strategies to different cultural and ethnic consumer groups due to globalization, the growing number of ethnic minorities, increased attention to cultural diversity and the competitive advantage it can provide in the market.This article examines the main strategies of ethnic marketing.The article discusses five types of audience segmentation in ethnic marketing, the role of cultural characteristics in marketing campaigns, and the effectiveness of communication and product adaptation.Purpose.The purpose of the article is to study ethnic marketing in order to adapt strategies to the diversity of cultural consumers.Results.The article identifies the main strategies of ethnic marketing, five types of audience segmentation in ethnic marketing, and discusses the role of cultural characteristics in marketing campaigns.Conclusions.In today's intercultural environment, it is increasingly important to understand and take into account cultural peculiarities when developing marketing strategies for different ethnic groups.

Modern EconomicsVol. 46(1)
Openalex Percentile: Top 56%
Migration, Ethnicity, and Economy
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