Section 4: Inclusive Multicultural Marketing

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Section 4: Inclusive Multicultural Marketing

• • • • • At the conclusion of this section, you should be able to: summarize the importance of understanding the local market; identify sources of local demographic information; apply analytical techniques to a local market; discuss the dynamics of multicultural marketing; and analyze a case study of discrimination in advertising.

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Taking the first steps

• • • • Interested in broadening your business to a wider range of clients? You need to plan for it!

Look at your communication skills, new cultural knowledge, and new approaches to listing, selling, and marketing. Get organized.

A good strategic plan tells you where you want to go, how there, and when you’ll arrive.

you’ll get

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Understanding and evaluating the demographics of a local market

• • • • Analyze local market data to evaluate strengths, weaknesses, opportunities, and threats (

SWOT Analysis

), then Identify opportunities to find clients and expand your practice. Then Identify and develop needed services for underserved populations.

If sensitive to diversity and fair housing, you will provide equal service for

all

clients

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Your local market

• Finding and analyzing local demographic data is an important part of your plan.

• • • Bureau of Economic Analysis Fedstats.gov

U.S. Census (American Community Survey) •

Exercise:

In the blank pie chart in your manual, divide the chart according to what you think your local demographic breakdown is by race.

Then review actual local market data.

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Market case study

Case study:

Milwaukee, Wisconsin. Examine if Broker X should expand his or her services to the Hispanic customer base by reviewing the societal profile. Milwaukee, WI

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Market case study exercise:

How has your community changed?

Reflect on how your community may have changed over the past 5 or 10 years in terms of: Population (i.e., size, diversity, etc.) Age (i.e., under 24, over 25, over 65, etc.) What trends do you foresee taking place in: 5 years: 10 years:

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Market case study

(cont’d.)

:

See beyond the numbers

• Not all Hispanics, Asians, Blacks are of one culture.

• Cultures can be broken down to very different segments (i.e. Asia consists of people from many different cultural backgrounds, including Iraq, China, Turkey, India, and the Philippines).

• Broker X needs to know that a majority of Hispanics in his area are of Mexican descent, and also that a growing percentage are from Central and South America, Cuba, and Puerto Rico.

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Case study:

Summary

• Broker X’s market expansion into the Hispanic market is a sound decision. • Between 2000 and 2008, the

multicultural

population will have increased in the Milwaukee MSA by 60,881, for a total population of 414,466 • 36.21% of total population is between the ages of 24-45.

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Multicultural marketing

• Learn as much as possible about your potential clients • Do not assume that all minorities are alike.

• Be careful when translating.

• Use appropriate native language media (foreign language newspapers, television broadcasts).

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Multicultural marketing

(cont’d.)

• Hire sales associates and staff who speak the language of the ethnic groups you are trying to serve.

• Be sensitive about cultural slurs, clichés, and taboos.

• Be prepared to educate your audience.

• Get involved in community.

• Consider hiring a culturally-sensitive marketing consultant.

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Multicultural marketing

Volkswagen Ad Offends Latinos

2006 DiversityInc.com

® March 18, 2006 Several months ago, Volkswagen put up its new billboards for the sporty car with the slogan “Turbo-Cojones.” In American English, the word is used as a catch-all term for daring, but in Spanish, it is an impolite way of saying “testicles.” Volkswagen’s intent was to pitch the sporty, fast car to young, bilingual Latinos, but it backfired.

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Multicultural community outreach

• • • • • • • • • Studies have shown that the best vehicles for outreach in the multicultural community are through community influencers, including: Immediate family Friends and neighbors Places of worship Doctors, dentists, chiropractors, other medical professionals Teachers Attorneys Bankers Retailers Services

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Fair housing and advertising

• • Laws affect what can or cannot be said about the property.

You may not say or imply anything about the people, or type of people, that may want to buy or rent a property.

• Keep descriptions accurate and focused on the features of the property.

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Section 4: Summary

• • • • In this section we: reviewed the importance of the local demographics of your market; analyzed a local market case study; discussed multicultural marketing dynamics; and discussed advertisement approaches that comply with fair housing laws.

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