What is the difference between Monoculturalism and Multiculturalism?

Multiculturalism is defined as social the trend under which different cultural backgrounds are simultaneously included, accommodated and tolerates. Such trends are supported by institutional legislations for respecting additional cultural values. Some examples of multicultural societies with supporting national policy are Australia, Canada, and other western nations (Yu and Zhai, 2019). Monoculture can be defined as the social consciousness among maximum social actors for dictating a specific cultural value and only following the aspects, ethnicity, and religions under the cultural values. The culture of other people is not considered under such national cultures (Yu and Zhai, 2019).

The current global society is majorly dominated by highly multicultural millennials. This population has a different thought process about brands. They reflect extreme digitally savvy behaviour, with unique self- realization, and demand for maximum gratification. They hold a sustainable and conscious outlook towards life and have the potential of changing the ways in which brands consider marketing their services and products (Apostu, 2014).

Due to this multiculturalism, the focus has shifted from craftsmanship and quality within the unique attributes of the product. The millennial population places maximum efforts for standing out and presenting themselves as special, which was not to be addressed by traditional luxury brand.   

The Enhanced Trend of Multiculturalism in Modern Luxury Industry.

Luxury marketers tend to miss out opportunities of growth if they neglect diverse audience groups in their advertisements. The concept of multicultural marketing appears to be highly apparent across luxury automobile brands, but the overall investment value is extremely low (not even 10 per cent of internationally budgeted financial data for marketing the business for multiple audiences (Yu and Zhai, 2019). Irrespective of less investment priority for the diverse audience, luxury automobile brands tend to be sharing universal appeals for feature the diverse customers. As a significant example, Lexus by Toyota Corporation considered connecting its new models with fresh idea of highlighting the relationship and connectivity between cars and their drivers (Huang and Grow, 2019). The spots of multiculturalism were addressed with audiences from LGBT, Spanish speaking, and black communities for extending the overall marketing engagement.

The new partnership of Louis Vuitton is focused on continuously embracing digital trends for accompanying marketing efforts and physical products. The luxury brand is reflecting itself as a genius for its operations in e-commerce channels, website, mobile marketing, social media presence, and digital marketing. The brand came in partnership with Riot Games to start a new 2019 World Championship League of Legends. It will be a global championship competition with the trophy of Summoners Cup, similar to the sports brands, America Cup, Rugby World Cup, and FIFA World Cup. Under this partnership, the company has also set plans for creating a clothing collection under the artistic directions of Louis Vuitton (Huang and Grow, 2019).

Among luxury brands of jewellery and fashion, Gucci, Louis Vuitton, and Tiffany are achieving huge success by targeting modernized immigrants, specifically the millennial generation. This particular customer segment specifically focuses on seeking prestige and quality in terms of luxury products.

On the other hand, Hispanic and Asian American customers want to sense value in the provisions. They approach luxury brands for obtaining services with personalized styles and additional after sales support.

For the purpose of reaching the selective and sophisticated shoppers, luxury brands should have the ability of appealing them with the status desired (Apostu, 2014). It is extremely crucial for luxury brands to enhance their multicultural marketing investment for the purpose of recognizing these opportunities and further attracting the new customer base in the right manner.

The concept of multicultural media is also extremely important to be embraced by brands for the enhancement of their market value. The overall market of multicultural customers is reflecting fast major growth in demographic trends and under representing them will result in huge loss (Huang and Grow, 2019). Luxury brand have to quit generic, totally bland marketing messages, and focus on the delivery of culturally significant media that they can also see as multicultural.

References

Apostu, I.M., 2014. The international expansion of a hotel chain. Multiculturalism and performance. Revista Economica, 66(3).

Huang, J. and Grow, J.M., 2019. Diversity and Multiculturalism in Advertising: An Interview with Julia Huang. Advertising & Society Quarterly, 20(1).

Yu, W. and Zhai, W., 2019, July. Luxury Industry’s Chinese User Experience Design. In International Conference on Human-Computer Interaction (pp. 394-403). Springer, Cham.