(Ad Age, Chiqui Cartagena) Two weeks ago, I attended the annual Nielsen Conference, considered the Holy Grail for researchers, media companies and marketers obsessed with better understanding the American consumer and their behavior vis-a-vis media consumption. Although this event has been in existence for years, it, like so many other venerated conferences, has never focused much on multicultural audiences, which are often relegated to "niche" conferences like the Hispanic Retail Conference or the Multicultural ANA.
So, needless to say, I was intrigued when I read Nielsen was going to have a panel on understanding the multicultural consumer and that my colleague Roberto Ruiz was going to be on it.
Last year I bemoaned in Ad Age the lack of focus on multicultural marketing issues at other conferences (Move Multicultural Marketing from the Ghetto to the Golf Course). I doubt the article persuaded Nielsen to include such a topic in its conference this year, but maybe it did help it consider the idea. I headed to Orlando, ready to be disappointed, once again, by the marginal treatment we who toil in Hispanic marketing always get at these things.
To my great surprise, however, the very first speaker, Coca Cola CMO Bea Perez, focused on the importance of multicultural marketing during her presentation when she said that 86% of the growth through 2020 for Coca-Cola's youth-target market will come from multicultural consumers, especially Hispanic, and that focusing on this segment was critical to the company's future growth. "Wow," I thought, "this is great. Here is Coke validating what I've been saying for years." Then I thought, it must be a fluke, right? But then, it made sense. Coke is a leading global brand, so the execs there get it.
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