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Multicultural_market_places.docx

Multicultural_market_places.docx - Surname 1 Name...

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Surname 1 Name Instructor Course Assignment Multicultural market places: New Territory for International marketing and consumer research The aim of the paper is to highlight and raise attention on research on international market and consumers in multicultural market places as a new avenue for studying and developing Marketing Avenue. It comes up with the conceptual framework for marketplaces within multicultural context while simultaneously showing why they make up new conceptual territory. According to the paper, history has proven that there are many territories in which people who originate from different culture have lived together peacefully and this was defined by trade routes or geographical proximity. However, diversity that is premised on different cultures has been advanced by immense economic development, increased mobility of consumers, unprecedented technological advancement, and the growth of transport infrastructure. Therefore, multicultural market place have developed into an important platform over which ideas, goods and services can be exchanged either physically or virtually, offering researchers and marketers a new market place with new opportunities and challenges(Demangeot, Amanda and Craig 119). Multicultural marketplaces are vital territories for international marketing and are a result of globalization, which has facilitated multiculturalism and a variety of market related arenas that include regional such as Europe, national such as Canada, and local such as New York City. Thus, increased mobility of leisure and work activities, alongside high levels of operational scale has intensified the marketing competition within any specific locality (Demangeot, Amanda and
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Surname 2 Craig 120). When reflected on the basis of the shifts in the international markets, researchers and scholars state that there are stages that the changes in international market places have passed through, depending on the market problems that existed each time. At first, the emergence of international marketplaces was premised on the issues of differences such as cultural norms,
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