Marketing financial services to the ethnic minority customers

Authored by: Intekhab (Ian) Alam

The Routledge Companion to Ethnic Marketing

Print publication date:  June  2015
Online publication date:  June  2015

Print ISBN: 9780415643634
eBook ISBN: 9780203080092
Adobe ISBN: 9781136164224


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Many markets in both developed and developing countries are culturally diverse, containing sizable populations of a variety of ethnic minority groups. High levels of immigration in different parts of the world are partly responsible for this cultural diversity that has resulted in intermingling of values, interests and consumption patterns of consumers from diverse backgrounds (Grier and Deshpandé 2001; Ouellet 2007; Peñaloza and Gilly 1999). The improvements of technology, such as the growth of satellite communications and the internet, have also contributed to greater interchanges and linkages among various minority groups. This has indeed led to blurring of the social boundaries of culture (Craig and Douglas 2006). However, despite this cultural intermingling, ethnic minority groups have been found to maintain their own unique consumption patterns due to the intangible elements of societal values and beliefs as shown in the extant literature (e.g. Jamal et al. 2012; Goldman and Hino 2005; Jamal 2003; Burton 2000; Ackerman and Tellis 2001). These rather unique and conflicting views on the cultural shifts make the issue of marketing to ethnic minorities an important area of enquiry (Emslie et al. 2007; Jamal and Shukor 2014; Pires et al. 2011).

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