The Diversity of the US Marketplace

Written by Global Managers   
Not too long ago, the US market was envisioned as one homogeneous market of 250 million people with a common culture, easily facilitating mass marketing programs. Mass products, mass media advertising and mass distribution are traditionally considered to be the ideal way to achieve market share growth. The subsequent infusion of large groups
of immigrants coupled with an increased openness to global products and services has resulted in a complex and diverse US marketplace. US markets are becoming increasingly culturally diverse when you consider that the Hispanic, African American, East and South Asian American populations and, therefore, markets are becoming increasingly segmented. With fragmented media channels and viewing habits and the reach of the internet to global products and services, marketers have been forced to rethink their strategies. This diverse market has motivated marketers to customize their product and service designs along with their distribution channels to improve customer experiences and earn their customers’ long-term loyalty. This marketplace shift is a call for changes in marketing research methods, language skills of the field staff and overall marketing research practices. At Market Probe, we can address this changing dynamic.

Dr. T.R. Rao