Posted on November 11, 2005 by nicknoorani
You’d have to have been asleep for the past 20 years not to have noticed that the face of Canada is changing. In fact, Statistics Canada reports that more than 200 ethnicities are now represented in this country. Immigration accounts for more than 50% of our population growth, and that figure is predicted to double by 2025. What this means for entrepreneurs: if you aren’t currently pitching your product or service to ethnic markets, you should be. The ethnic market can represent new avenues of growth, untapped market segments and increased profitability.
But there’s more to ethnic marketing than just submitting an existing campaign to the multicultural media. Today, new Canadians are far more sophisticated consumers, better educated and have more spending power than immigrants of years past. The savvy marketer must not only understand the ethnicity of his customers, but also embrace their cultural customs and sensitivities.
Here are the top five tips you need to consider when coming up with your firm’s ethnic marketing plan:
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