Crisis in mass marketing: social diversity is changing the face of marketing
Zurich, March 14/PRNewswire/ -- Globalization is making itself felt not only worldwide but also at the regional level. The growing diversity of modern society is radically altering conditions on consumer markets. This issue was addressed at the first New Diversity Forum, which was held at the Zurich airport from March 13-14. The event, which was jointly sponsored by Lowe Switzerland and the University of St. Gallen, was a great success, as the approximately 250 attendees and the worldwide renown of the presenters clearly showed. "We really touched a nerve here. The marketing and advertising industry has been in a crisis for quite some time, with classic marketing strategies yielding ever diminishing returns," noted Kurt Schmid, Lowe Switzerland CEO and co-originator of the event.
"Low price strategies can only be short term solutions. But New Diversity offers the opportunity to develop future-proof marketing strategies that really work," comments University of St. Gallen professor Torsten Tomczak. A broad range of country-specific and international scenarios were discussed at the event. A number of Swiss companies have also taken steps to meet the challenge of social change. Andreas S. Wetter, Orange Switzerland CEO had this to say: "We are using our organizational structure and expertise to reach population segments such as various ethnic groups, values, lifestyles, subcultures, philosophies, and attitudes. Orange's cosmopolitan image is an ideal basis for ever growing market success."
Draft Cultural Marketing senior vice president Charlee Taylor-Hines emphasized that more than just population statistics have to be factored into strategies that aim to reach individual population segments: "Many subcultures and smaller groups have a major impact on pop culture. In the USA, for example, Afro-Americans are often trendsetters for young people and Hispanics have a major influence on the music market."
The New Diversity Forum was sponsored by Swiss International Airlines, Orange Switzerland, Google, publisuisse, persönlich and GfM - Swissmarketing.
For further information: http://www.newdiversity.ch