Marketers Still Confused about Multicultural Marketing

March 7, 2008

This article is included in these additional categories:

African-American | Agency Business | Asia-Pacific | Hispanic

Though 84% of marketers agree that multicultural marketing is critical to their business, nearly 40% say they don’t know how much minority groups contribute to their companies’ revenues, according to a Brandiosity study conducted for Heidrick & Struggles, reports AdAge.??????

Asked what type of agencies they use to reach Hispanics, African-Americans and Asians, 58% of marketers said they use general-market-research firms; 51% cited multicultural agencies; 42% said general-market agencies; and 35% cited multicultural-research firms.

Among the findings cited by AdAge:

  • Nearly half of the top 20 challenges that?executives cited had to do with convincing management and their peers?of the value of multicultural marketing.
  • Asked which minority segment was most important to their company, 65% selected Hispanics, 30% said African-Americans, 24% cited Asians.
  • Asked whether it “takes a Latino to market to a Latino,” 35% said yes – but 39% disagreed.
  • Despite increased efforts in multicultural marketing, its perceived effectiveness in companies remains low. One reason may be systemic – that is, multicultural marketing is not an integral part of the organization – as 44% of executives say companies are not structured? to efficiently conduct multicultural marketing.

About the data: More than two-thirds of the 60 survey respondents were chief marketing officers or senior VPs of marketing; 14% were VPs, managers or directors. Respondents represented a variety of industries, including retail, CPG, telecom, financial services, fast food and apparel.

Explore More Articles.

Marketing Charts Logo

Stay on the cutting edge of marketing.

Sign up for our free newsletter.

You have Successfully Subscribed!

Pin It on Pinterest

Share This