Latest news with #marketexpansion
Forbes
3 days ago
- Business
- Forbes
Diversify Your Business For Smarter Growth
Colorful diverse people crowd abstract art seamless pattern. Multi-ethnic community, big cultural ... More diversity group background illustration in modern collage painting style. In the dynamic and often unpredictable landscape of the business world, relying on a single product, service, or market can feel like navigating a tightrope without a safety net. By strategically expanding into new markets, companies can mitigate risks associated with market fluctuations, tap into unexplored customer segments, and unlock novel avenues for revenue generation, ultimately fostering long-term stability and a competitive edge. In my interview with Charlene Polite Corley, Nielsen's VP of Diverse Insights and Partnerships, who leads thought leadership and exclusive initiatives, she said, 'Business leaders know to diversify their investment portfolios, why not also their teams?' According to Nielsen's research, 34% of the buying power, or $7 trillion, comes from diverse communities. The American economy is resilient because of the diversity of its consumer base. Polity Corley encourages apprehensive organizations to think about diversity as their responsibility to their consumers. To serve the full market's potential, it is so hard to do without being inclusive. In my interview with Stacie de Armas, the Senior VP of Diverse Intelligence & Initiatives at Nielsen, she explained the business opportunities of serving a more diverse population. For example, the Hispanic population is 10 years younger than other ethnic populations in the U.S. The Hispanic population also overindexes on loyalty, so this is a longer-term opportunity. De Armas said, "When you have these groups of customers who haven't necessarily had the opportunity to build an affinity for your brand yet, this is where your investment is going to get you two to three times more. This is where you're going to get the bigger return on investment. Not only does it make great business sense, but it's also a great opportunity to reach out and build loyalty with customers that you haven't had a relationship with in the past." Polite Corley said, 'Centering one community does not exclude other communities.' When you better serve one community, you better serve all communities. De Armas made clear, 'With diversity, there are more problem solvers. Similar groups have similar ways of thinking. New ideas come from engaging people who have been historically excluded.' Diversity is a significant driver of business growth. Engaging with historically excluded consumer groups is essential for long-term business growth as they represent untapped markets and offer greater potential for building brand loyalty and achieving higher returns on marketing investment. Polite Corley noted, "Black and African American consumers in particular remain the most likely to buy from brands that feature someone from their identity group in their ads. With the right folks at the table with the right data involved in your strategy, these are new opportunities and ways to ensure growth." Understanding nuanced cultural and consumption habits is crucial for effective marketing: A "copy-paste" approach to marketing is ineffective. Brands need to develop a deeper understanding of the media consumption habits and cultural nuances of diverse audiences to connect authentically and build lasting relationships. Data shows, for example, that Black, Hispanic, and Asian audiences spend significantly more time online. That is an opportunity for more online business. Centering diverse narratives benefits everyone and creates a broader cultural impact. Focusing on representing specific communities authentically in content and advertising doesn't exclude other groups. Instead, it provides "windows" into different experiences, enriching everyone's understanding and often leading to broader cultural trends and significant financial success.
Bloomberg
26-05-2025
- Business
- Bloomberg
Meituan Achieves Solid Sales Growth on Global Expansion
Meituan reported better-than-expected sales in the past quarter after an aggressive push into new markets outside mainland China. Sales for the three-month period ending in March reached 86.6 billion yuan ($12.1 billion), while analysts on average expected 85.4 billion yuan. Net income totaled 10.1 billion yuan, versus the average analyst estimate of 8.63 billion yuan.
Associated Press
23-05-2025
- Business
- Associated Press
Argus Research Reaffirms $200M 2025 Revenue Forecast for Golden Matrix (GMGI)
Las Vegas, Nevada--(Newsfile Corp. - May 23, 2025) - Argus Research has issued an updated equity research report about Golden Matrix Group Inc. (NASDAQ: GMGI), reiterating its fair value estimate for GMGI shares. The report highlights significant upside potential relative to current trading levels and forecasts continued revenue growth and operational expansion across key global markets. To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: [ This image cannot be displayed. Please visit the source: ] Click image above to view full announcement. About Golden Matrix Group Golden Matrix Group, based in Las Vegas, NV, is an established B2B and B2C gaming technology company operating across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients, while its B2C division, including Meridianbet, operates regulated online sports betting and gaming sites. Connect with us: X - Instagram - Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding revenue forecasts, market expansion, and valuation targets. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Forward-looking statements speak only as of the date they are made, and Golden Matrix undertakes no obligation to update or revise them. Factors that may affect these results include but are not limited to, changes in market conditions, regulatory developments, operational execution, and other risks detailed in the company's filings with the U.S. Securities and Exchange Commission. Contacts: Milan Koricanac [email protected] Source: Meridianbet Group To view the source version of this press release, please visit
Forbes
22-05-2025
- Business
- Forbes
How Global Brands Can Avoid Cultural Missteps In New Markets
Expanding into a new market can offer incredible opportunities for growth. However, if not managed carefully and with sensitivity, it also comes with the risk of cultural missteps that can damage a brand's reputation. Larger or global brands with long-established processes and marketing strategies may be especially likely to fall prey to failing to adapt to the traditions and nuances of an unfamiliar culture. Understanding and respecting local customs, language and consumer behaviors is essential for building trust and connection when entering a new market. Below, 20 members of Forbes Communication Council share specific steps brands should take to ensure their outreach to a culture that's new to them is both respectful and effective. The key is to partner with cultural insiders, not just translators. Localization isn't a checklist—it's a conversation. You must engage trusted cultural insiders who live the nuance, not just language experts. They will flag blind spots you didn't know existed and surface opportunities you couldn't Google. Insight happens on the ground, not in the boardroom. - Janita Pannu, OPIIA Inc. You should start with local voices at the table. You are not just translating thoughts and context; you are translating values, humor, habits and meaning. The key is to bring local voices into the room early and listen like your brand depends on it—because it does! The brands that win globally do so because they show up with intention and respect. - Kristin Russel, symplr Forbes Communications Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify? Based on years of experience, I would say a critical yet oft-bungled step marketers make when entering new markets is leaving the localized version of the website only half-finished or not done at all. I've seen large and small companies send out email sequences with the same problem. You should not leave localization to chance or another team. Done properly, it is money well spent. - Rebecca Takada, Outfoxr You can easily get this one wrong. Marketers need to study and understand the market, ways of operating, and what's acceptable and not acceptable culturally. Every market will have its nuances; hence, a detailed study is important. What's also important is to realize how to go about things. There could be several barriers, including language, that may hinder progress when entering a market. - Fahad Qadir, Haleon Marketers must localize their messaging by collaborating with local agencies or partners. This ensures cultural understanding and prevents missteps. Adapting campaigns to fit local norms and preferences shows respect and enhances brand acceptance, ensuring successful market entry without offending or alienating the target audience. Tailored approaches build connections. - Arnav Sharma, Tech Mahindra Taking the time to listen to and do your research about a new market is essential for companies. Rather than rush, take the time to learn what you don't know and observe before executing. - Lyndsi Stevens, Celerium Marketers should get to know local customs by genuine cultural consultation, not just rely on literal translations or general data. They should work with experts who are there, study how consumers behave and adjust their messages, visuals and offerings based on what they learn. An empathetic approach shows respect, builds community trust and makes sure the global brand resonates without offending local audiences. - Jamie Elkaleh, Bitget Wallet There are over 200 languages and more than a thousand cultural organizations in New York City alone. In each place, diversity is driven by language, origin and more. It is important not to imagine anywhere in the world as homogeneous. Analytics play a key role in identifying the hundreds or thousands of subsegments in each city or location that we must understand to align with our audience. - Bob Pearson, The Next Practices Group Before launching a campaign on a large scale, marketers should test it with a small local audience to gather feedback. This helps identify any elements that might cause confusion, misinterpretation or offense. By making adjustments based on this feedback, marketers can ensure the final campaign is culturally sensitive, resonates authentically and aligns with local values and expectations. - Lauren Parr, RepuGen If possible, marketers should hire people who are local to a new market. It's important not to make assumptions based on what you read, hear or perceive, and having someone with firsthand knowledge of the area can significantly improve your efforts. This local perspective can ensure your content lands appropriately, and they can also help you shape strategies, bringing valuable context that an outsider might miss. - Victoria Zelefsky, Anne Arundel Economic Development Corporation Marketers should ensure their campaigns reflect local preferences and sensitivities, not just language. This means adapting visuals, tone and even storytelling to better resonate with the local culture. Small adjustments, like using culturally relevant imagery or humor, can go a long way in showing respect and building trust. - Katie Jewett, UPRAISE Marketing + Public Relations As basic as it sounds, engaging and empowering marketing leadership talent in the new market is crucial to ensuring that your brand keeps cultural nuances in sight. The kind of local understanding that those individuals can bring to your brand strategy will provide eye-opening perspectives that you may have otherwise missed as an international brand. - Kerry-Ann Betton Stimpson, JMMB Group One crucial step marketers must take when expanding into a new market is conducting in-depth cultural and linguistic localization research—beyond just translation. To avoid issues, marketers can collaborate with local experts, cultural consultants and native speakers who understand nuances that AI or basic translation tools might miss. - Kurt Allen, Notre Dame de Namur University One nonnegotiable is to embed deep local insight from day one. Scale means nothing if you miss cultural nuance. Do not delegate understanding—co-create with trusted local voices. If you skip this process, you risk missteps or losing your license to operate. - Marie O'Riordan Cultural missteps often stem from brands trying to look identical everywhere—few, if any, are truly big enough to pull that off. Success lies in balancing global identity with local relevance. Marketers shouldn't overlook visuals—imagery is every bit as culturally loaded as language and tone. - Liam Wade, Impression Expanding into a new market requires a fundamental shift in mindset. Translating your positioning, messaging, campaigns and content word-for-word is not enough. What's needed is true localization, where content, visuals, design, currency, tone and context are adapted to fit local culture. Companies that understand this nuance are able to successfully enter new regions without cultural missteps. - Rekha Thomas, Path Forward Marketing Global brand strategy is as strong as its local activation. Strategic CMOs design for local creation from the start. Nike gets this right—building deep connections with consumers and fans, activating trusted voices and local athletes in key sports, shaping culturally relevant messaging, and building products that serve and fit local consumers while embedding themselves into the soul of sports culture. - Toby Wong, Toby Wong Consulting You must learn to listen first. Before launching anything, it's crucial to understand the local culture—its values, language and nuance. Marketers need to partner with people who live it. What feels universal may not land the same way everywhere. Humility and curiosity go a long way when building something meant to connect. - Rich Bornstein, Bornstein Media Marketers need to identify the nuances of customer behavior and the expectations of the local market and adapt their marketing approach based on what matters to that audience (prioritize 'must have' over 'good to have'). This can be in terms of the channels they use to communicate with the audience (for example, Baidu versus Google or the use of business cards) or the communication and language preferences. - Aditi Uppal, Teradata When entering a new market, there's no single step, unfortunately—but one can use design thinking principles: empathize, define, ideate, prototype and test. Testing with the local audience is key; it may send you back to the drawing board, but it ensures cultural fit. Also, marketers must involve local voices early—not just in feedback, but in co-creation. Authenticity grows when locals help shape the message. - Suneeta Motala, Stewards Investment Capital
Malay Mail
12-05-2025
- Business
- Malay Mail
Zahid: Malaysia must use Asean chair to grow halal exports into 600 million-strong regional market
BUTTERWORTH, May 12 — Malaysia should seize the opportunity of its Asean Chairmanship in 2025 to expand the market for halal products and penetrate the Asean market, which comprises a population of 600 million, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamid. He said that although halal products from Indonesia and Thailand are marketed in Malaysia, local halal products have yet to penetrate the Asean market due to insufficient marketing efforts. 'Since 600 million is a realistically large market for Malaysian halal products, the efforts by the Malaysia External Trade Development Corporation (Matrade) are geared towards expanding the market among Asean countries,' he said. He was speaking to reporters after launching the Penang Halal Industry Development Council here today, which was also attended by Penang Chief Minister Chow Kon Yeow and Majlis Amanah Rakyat (MARA) Chairman Datuk Seri Asyraf Wajdi Dusuki. As such, Ahmad Zahid, who is also Malaysian Halal Industry Development Council chairman, proposed the establishment of an Asean Halal Council and the organisation of an Asean Halal Forum this September. He said the Malaysia International Halal Showcase (MIHAS) will also feature halal products and invite Asean industry players for 'business matching' with potential importers. In addition, he said Malaysia is also collaborating to expand the production of halal gelatine-which currently has only one producer in the country-for both Asean and international markets, as existing gelatine products lack the proper standards required for other halal products. 'This includes sectors such as medicine, cosmetics, and others, because we tend to focus only on the food and beverage (F&B) service sector, when in fact, other sectors hold vast market potential and should be further developed,' he said. Meanwhile, Ahmad Zahid noted that Malaysia possesses a comprehensive halal ecosystem, including halal certification recognised by 92 foreign halal certification bodies from 48 countries. At the same time, he congratulated Penang for becoming the first state in Malaysia to establish a Halal Industry Development Council. Malaysia continues to lead the global halal industry, recording exports valued at RM61.79 billion in 2024, a 15 per cent increase from 2023, and maintaining the number one position in the Global Islamic Economy Index for ten consecutive years. — Bernama
