Tag Archives: diversity

Tough Love and Truth about the Ad Industry

2014-08-15 16.42.02

Pepsico President — Global Beverages Group, Brad Jakeman  

and

Harley-Davidson, Chief Marketing Officer Mark-Hans Richter “truth tell”  about the ad industry.

“The Lack of Diversity”

“I am sick and tired as a client of sitting in agency meetings with a whole bunch of white straight males talking to me about how we are going to sell our brands that are bought 85% by women,” he said. “Innovation and disruption does not come from homogeneous groups of people.”

“Fake Fight: Millennials vs. Boomers” — Why limit (your) growth to marketing directed to young adults?

“Youth does not own cool. Youth does not own growth. Youth does not own innovation or disruption.” he said. “Old people are a growth market, too.”

The article, Pepsico Exec Has Tough Words For Agencies, underscores issues that have long been prevalent in the ad industry.

Chief among these is diversity or more appropriately, the lack of diversity within the industry.

Whether the target audience is African- American, Latino, Asian, Women, LGBT or combinations including one or more, your agency has to have knowledgeable staff in order to effectively connect.

 

White people have 13 dollars for every dollar held by Black Americans

Sobering statistics regarding African-American and Latino wealth from the Pew Research Center.

 

US dollar

“While the wealth of whites leveled off as the economy began to heal between 2010 and 2013, Blacks and Hispanics experienced continued decline.”

 

22% of Americans Are Already Christmas Shopping – Led By Multicultural Consumers

Macy

…but who is surprised?

“There are some positives heading into the holiday season: improving consumer confidence, lower gas prices and job gains, all of which should spur consumer spending, much of which will be led by multicultural consumers and large households.”

Click below for the full Nielsen article

http://www.nielsen.com/us/en/insights/news/2014/christmas-in-october-not-quite-but-22-percent-of-americans-are-already-shopping.html

 

 

The African-American Woman Offers Unparalleled Opportunities for Brands

IMG_4004Check out this link from Nielsen to gain insight as to why a conversation with “her” is essential…and makes very good business sense

http://www.nielsen.com/us/en/insights/reports/2014/powerful-growing-influential-the-african-american-consumer.html