Summary:
- Definition of Total Marketing and Multicultural Marketing
- Important Differences between the two
- Which is better for you
Total Marketing Definition
According to the Association of National Advertisers (ANA) and the Voice of Hispanic Marketing (AHAA)
“A marketing approach followed by corporations with their trusted internal and external partners which proactively integrates diverse segment considerations. This is done from inception, through the entire strategic process and execution, with the goal of enhancing value and growth effectiveness.”
IN EGLISH:
Total Marketing is about adapting your marketing efforts to account for the demographic ‘fringes.’
In reality, what used to be minority is now growing to be the majority.
So really, Minority Marketing can be also considered Majority Marketing in the coming years. By the same logic, Diversity Marketing can be considered Inclusion Marketing.
Therefore, the trends are clear and we know we’re heading for a 180˚ shift in our Marketing efforts.
Multicultural Marketing Definition
There are many definitions of Multicultural Marketing. This is the one that works for us:
” A marketing approach fully dedicated to addressing the needs and wants of a specific ethnicity “
To learn why companies are choosing the Multicultural Marketing approach, click here.
To see some examples of multicultural marketing campaigns, click here.
How can Phu help You?
The decade of growth and change that led to Total Marketing and Multicultural Marketing
Between 2000 – 2010, 84% of U.S. population growth came from Hispanics, African Americans and Asians. [US Census Bureau, 2010]
This was the signal that all companies picked up. It was more than obvious that marketing will have to adapt to the changing demographics, and consumer habits, thereof.
Note that not all business entities agreed on the right approach to solving this ‘problem.’
And we’re discussing the differences in the following section.
What’s the difference in practice?
TOTAL MARKETING
Think about Total Marketing as General Marketing spiced with Multicultural fragrance.
Total Marketing relies on consumer insights that outline the socio-demographic and psychological characteristics of the multicultural consumer segment properties – segment size, income, education, profession, and purchase habits.
MULTICULTURAL MARKETING
Unlike Total Marketing, this approach is about Decentralizing Marketing efforts.
Instead of adding or spicing, Multicultural Marketing is about treating the multicultural consumers as a completely new segment.
In other words, we’re not trying to account for the growing multicultural segments. Instead, marketers would look into the multicultural segment and attempt to deliver UNIQUE EXPERIENCE AND PRODUCTS that will only work for the targeted customer segment.
How can Phu help You?
What parameters are needed to choose the right approach?
Total Marketing is the right approach for Large Enterprises that wish to further penetrate the market with their Brands.
Multicultural Marketing is the right approach for Small and Medium Businesses who are targeting specific (minority) demographics.
In the table below, we’re outlining the Key Parameters that will help you choose the right approach for your business:
| Relevant Materials | Learn more about STP Analysis here | Learn more about Stakeholder Analysis here | Learn about Consumer insights and Online Behavior | Learn more about Network Effects here |
Why we think Multicultural Marketing is, overall, a better approach
Most corporations and large enterprises have adopted the Total Marketing approach to help their brands penetrate further. However, it is becoming increasingly difficult to address the multicultural consumer through small efforts of diversity marketing.
Today, Minorities comprise big chunks of all markets. The numbers are yet to grow. For example, LatinX <16 years of age represent 26% of the total population in USA.
Multicultural Marketing approaches the specific ethnic consumer and observes their behavior and attitudes.
How can Phu help You?
Unlike Total Marketing, Multicultural Marketing is robust and allows us to be flexible and engage more effectively with our customers.
The future belongs to those WHO TRULLY UNDERSTAND THEIR CONSUMERS.
Total Marketing is about adapting your marketing efforts to account for the demographic ‘fringes.’
In reality, what used to be minority is now growing to be the majority.
So really, Minority Marketing can be also considered Majority Marketing in the coming years. By the same logic, Diversity Marketing can be considered Inclusion Marketing.
There are many definitions of Multicultural Marketing. This is the one that works for us:
” A marketing approach fully dedicated to addressing the needs and wants of a specific ethnicity “
To learn why companies are choosing the Multicultural Marketing approach, click here.
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