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December 13, 2016

Multicultural Marketing

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Consider These Facts Today, ethnic Americans--African-Americans, Asian-Pacific-Americans, and Hispanic-Americans--make up 25 percent of the U.S. population. By 2010 this figure will be 33 percent; by 2040, it will be 53 percent. Ethnic Americans are increasing in population seven times as fast as nonethnic Americans. The spending power of ethnic Americans has doubled over the past decade--to well over 1 trillion. But Then Consider This Fact: As recently as 1997, only 1 percent of American marketing dollars was spent for advertising directly to ethnic Americans. Is There a Message Here? You Bet. If your company is not marketing directly to--and hiring--ethnic Americans, you are losing access to an emerging market whose size rivals that of Latin America or Eastern Europe . . . The time to start investing in targeted ethnic and minority marketing--in selling to the new America--is now.

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