Multicultural Marketing is a type of strategy still little architect mailing list in companies. And that is why implementing this new concept of marketing today is complex in organizations. The main drawbacks when creating a Multicultural Marketing strategy are the following: When a company establishes the marketing budget for the year, it takes into account the data and behavior of previous years. However, they do not take into account that the market is constantly changing. Therefore, when assigning budgets, it is convenient that the past does not prevail in future investments, but rather that the proportionality of the investment is based on profitability and growth opportunities .
Wrong approach to Multicultural Marketing
There is no use launching messages if they are not relevant to the public . Not only do you have to reach the multicultural customer, you also have to be able to connect with them. It is important to consider elements that increase cultural fluency, nuance, or relationship to everyday situations through the use of dialogue and humor. Another big underlying problem is the lack of internal culture and attitude towards diversity and inclusion within the organization . It is practically impossible to connect with multicultural segments if your company does not value or promote internal diversity. A lack of diversity in decision-making teams can often hamper a brand’s ability to create authentic and effective
Examples of Multicultural Marketing
Coca-Cola has understood that today the society of any country is much more multiracial and diverse . As a result of this evolution and following the impact of the coronavirus pandemic, the company has set new goals to ensure that its diversity message and supportive actions are effectively disseminated in minority communities. As part of its strategy, it has appointed Henry Hendrix to the new role of Vice President of Multicultural Marketing Strategy and Engagement. He also appointed Fernando Enríquez as Vice President of Supplier Diversity. And furthermore, it has announced plans to nearly double its marketing spend on minority-owned media outlets over the next three years.