Exploring New Markets
In response to changing demographics, you will be targeting your product line to African American, Asian American, and/or Hispanic customers. How do you begin getting a baseline understanding of who they are and what they value?
You are beginning to consider the growing number of low-income consumers who have their own retail channels. Traditionally, your company has not focused on this consumer, and they are very different from the people who work in your company. How do you begin developing a feel for their world?
You are starting to move into developing countries. What products and messages will be relevant to them? How can you devlop empathy in a relatively short time and avoid costly mistakes?
You are looking at the growing Hispanic market as well as its influence on the general market. In your company, understanding of this ethnic group is superficial and not widespread. How can you begin raising awareness of the ways the world is changing?