Multicultural markets

Two types of needs in a multicultural domestic market need to be considered. Firstly, the needs of people with different cultural backgrounds and secondly, the needs resulting from these values, perceptions, and preferences of cultural groups in the role products and services play in their lives.

Multicultural markets represent an important focal lens for international marketing and cross-cultural consumer research, in view of their growing economic importance and of their theoretical difference from other types of marketplaces. Changes in infrastructure, technology, economic development and consumer mobility have increased cultural interactions consequently an increase in multicultural market demand. Traditionally marketing research was based on static values; marketing is now viewed as more dynamic. Multicultural marketing is becoming a focal point of marketing research.