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.
Authors
- Viktoriia Stamat (ORCID: https://orcid.org/0000-0001-5789-4023)
- Anastasiia Sarkova (ORCID: https://orcid.org/0009-0006-0679-5934)
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