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New York, NY - November 6-8, 2005 - The Association of National Advertisers (ANA) held its seventh annual Multicultural Marketing Conference November 6-8, 2005, the industry's premier multicultural event. Margaret J. Young, President and CEO of Mill Square Group, along with Jacqueline Jones, Vice President Strategic Planning/Market Research of Cable & Wireless, moderated a panel of senior multicultural executives from Cendant, Land Rover and Burger King. The panel discussed challenges and current best practices in developing compelling business cases and hard metrics for multicultural marketing efforts. Members of the panel shared both corporate and business unit level strategies for aligning and integrating multicultural marketing into the strategic vision of the organization.
Panelists spoke about how they counteract the under-allocation
of marketing funds based on current and projected multicultural
market potential. "Despite the fact that the multicultural
market is the leading US growth market, companies often
designate multicultural marketing as a niche initiative
and are not developing the holistic business growth market
plans typically done for general market segments",
says Young. The panel urged attendees to implement a "Multicultural
Business Framework (MBR)" so that companies could
gauge their cross-functional business needs and measure
their progress. The session provided an opportunity for
panelists to share leading edge strategies, best practices,
and performance benchmarks for building the business case
for multicultural marketing.
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