The Next Marketing Craze?
Over the summer Loblaw Cos. Limited came under fire from the Muslim community for producing a Punjabi ad during the holy month of Ramadan which was mistakenly aired during a Hindi language Bollywood film. Ethnic markets represent great potential in Canada, with one in three Canadians expected to be from visible minorities by 2031, representing 70% of the forecasted growth in consumer spending over the next decade.To attempt to tap into this market, retailers such as Loblaws, Shoppers, Home Depot & Wallmart have focused marketing campaigns & products on these groups.
There are problems that can occur however, as highlighted by Lowlaw’s gaffe, that result from a lack of inside knowledge and attention to detail. This is where hiring a CMO or marketing team, which has knowledge working with these ethic groups, will become increasingly important. Home Depot’s strategy of running popular Cantonese speaking workshops at their stores in Richmond BC illustrates the potential created by a localized & specialized marketing approach can work. Being in tune with the local population is therefore very important for a business. With first-mover status a business can respond quickly to their needs and win their store brand-loyal customers for life.
Source:
http://www.theglobeandmail.com/report-on-business/industry-news/marketing/a-worldly-ad-approach/article1722311/?cmpid=nl-bizt1