September 2, 2014. Fairfax, VA. ANA Press Release
Multicultural populations are driving 84 percent of the population growth, fueling 81 percent of U.S. job growth and accounting for 43 percent of buying power in top 10 markets – with statistics like these, marketing practices are evolving and, until now, have been lumped into the umbrella term “Total Market. ” For the last year, AHAA: The Voice of Hispanic Marketing, in collaboration with the Association of National Advertisers (ANA), and the Asian American Advertising Federation (3AF) assembled a broad coalition of clients, agencies and associations to define an integrated strategy for driving growth. Together, this coalition studied various models to develop the following industry-sanctioned Total Market definition:
A marketing approach followed by corporations with their trusted internal and external partners which proactively integrates diverse segment considerations. This is done from inception through the entire strategic process and execution, with the goal of enhancing value and growth effectiveness. In marketing communications, this could lead to either one fully integrated cross-cultural approach, individual segment approaches, or both in many cases, but always aligned under one overarching strategy.
“Our consensus is that a Total Market Approach (TMA) must feature a carefully crafted cross-cultural message, based on a universal truth relevant to the main segments of brand growth.” clarified AHAA Research Chair/Santiago Solutions Group Chief Strategist, Carlos Santiago. “To optimize effective growth, however, marketers also need dedicated segment strategies that create relevance and address distinct belief systems and triggers.”
“Total Market is a growth strategy that should be considered by just about every marketer,” said Bill Duggan, Group Executive Vice President, ANA. “However, great care must be taken in terms of both strategy and execution as total market is equally simple and complex.”
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