Wednesday, February 17, 2010

Add an 'H' to Your BRIC Strategy

During the past couple years, as the economy and marketing budgets in the U.S. went into a tailspin, global brands have depended on growth in the so-called BRIC (Brazil, Russia, India and China) countries to help prop up their bottom line. And although long-term growth for any global brand will no doubt have to be infused by a strong BRIC strategy, I'd like to remind marketers not to forget about the markets at home that have the potential to become new weapons for domestic growth.

When marketers look at Europe, they have no problem developing different marketing strategies for each country, but don't seem to apply the same rules when they look at defined segments in the U.S. At 75 million strong, the baby boomers are larger in size than England. And at 48 million, U.S. Hispanics are larger than Spain and are growing at a clip of over 1.4 million persons per year.

For sustainable economic growth in the U.S., brand marketers must add an "H" for "home" to their long-term growth strategies and start treating the different population segments of the U.S. as if they were "new" countries where their products and services have tons of room for growth.

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