A survey of top multicultural marketing experts reveals the future of ethnic marketing is extremely promising into the 21st century.
The survey, conducted by Erlich Transcultural Consultants (ETC), a research firm, and Multicultural Marketing Resources, Inc., a public relations and marketing company, polled 43 top national opinion leaders about the state of the industry. The survey, conducted between March and May 1999, showed that:

• nearly all respondents have seen increased interest in marketing to ethnic consumers over the past five years;
• more than three-quarters of respondents predict consumer marketing firms will increase marketing to ethnic consumers over the next five years;
• more than three-quarters of experts surveyed predict ethnic budgets will increase by 10 percent or more. Nearly half believe the budgets will increase by 25 percent or more within the next five years; and,
• the biggest issue for ethnic marketers is "obtaining top management commitment to ethnic marketing".
  

Other priority issues are:

• measurement of results (return on investment) of ethnic programs;
• obtaining funding to implement meaningful programs;
• reaching ethnic consumers in their own language; EUR determining what motivates ethnic groups to buy;
• marketing to key segments within key ethnic groups; and
• finding and retaining minority employees.

Experts also believe that:

• corporations that want their customer base to grow will have to address ethnic consumers;
• corporations need to be educated on the importance of the ethnic market and how to better reach these consumers;
• a high level of corporate commitment to ethnic consumers is a prerequisite to successful multicultural marketing efforts; and,
• the need for quality statistics and data is imperative for ethnic marketers.

Respondents predict multicultural marketers and advertisers will be focusing their energies on industries with the most growth potential -- telecommunications, packaged goods, health care, financial services and cosmetics and beauty products.

Marketers see Census 2000 as impetus for growth of multicultural marketing and believe corporations that have not invested in multicultural marketing will be forced to reevaluate or be left behind. Respondents cited the growing multicultural influence on popular culture and the buying power of ethnic consumers as the reason for increases in ethnic marketing.

For more information, please contact Lisa Skriloff, 212-242-3351, infobrokr1@aol.com.