Reframe the Marketplace: The Total Market Approach to Reaching the New Majority
- 2h 16m
- Jeffrey L. Bowman, Jeremy Katz
- John Wiley & Sons (US)
Most businesses are ignoring the more than $4 Trillion new majority market. Is your business one them? Learn how to REFRAME your business for the Total Market
Sometime around 2040, ethnic minorities will become the majority of the US population. Brands and businesses are not prepared. REFRAME: The Marketplace is the first guide for businesses eager to take advantage of the New Majority opportunity. Author Jeffrey L. Bowman is considered the pioneering thought leader and practitioner of the Total Market approach. He is a senior partner and managing director at Ogilvy & Mather, one of the world's largest advertising and communications agencies. Within four years, Bowman's practice was able to deliver more than $5 million in incremental fees and win industry awards for strategy, creativity, and brand effectiveness.
In this forward-looking and invaluable resource, Bowman shows you how to recognize this huge, underserved market. He then teaches you how to reorganize your enterprise to reap the rewards of this burgeoning segment. New majorities have already emerged in the top ten US cities. You'll learn how this market came about, why they've been ignored for the last fifty years, and, most importantly, how you can engage them so that they become your customers for life. The new majority consumer segments are the primary drivers of contemporary social and cultural change, and they influence the behaviors of those to whom brands cater—not the other way around. Bowman teaches you to flip the script and start targeting those who start trends, speak up, and push for progress in all aspects of life. That's the way to see your brand take off and develop the following you have been chasing from the wrong perspective.
Women, non-Christians, blacks, Hispanics, Asians, the LGBT customer segments, among others, are the faces—and deep pockets—of the New Majority. The minority will soon become the majority, and all of them want to be represented in advertising, catered to in the marketplace, and seen, not as individual outliers, but as prominent members of our diverse society. The New Majority wants your company to talk to them. They want to buy from you, but you're not reaching them yet. This book shows you how.
You'll learn how to:
- Right size your organization and business planning practices
- Tap into a historically underserved market
- Effectively reach the other half of the population
- Engage the market segment now worth more than $4 Trillion globally
The New Majority: They make money. They make decisions. They make an impact. They are smart, aware, and willing to evangelize when a brand targets their wants and needs. They are the future of your business. REFRAME: The Marketplace shows you how to capture them.
About the Authors
JEFFREY L. BOWMAN is an author, founder, and chairman of the REFRAME: The Brand™, a platform dedicated to preparing executives for the New Majority. The organization provides Total Market Enterprise™ advisory, education, and training. Launched in 2003, REFRAME has grown from 61 members to over 200 members.
Bowman is a former senior partner and managing director at Ogilvy & Mather, one of the world's largest advertising and communications agencies. It was there that Bowman pioneered a new communications model to bridge the general market and multicultural marketing communications silos. Today, he leads the industry charge in transforming brands and businesses for the New Majority.
JEREMY KATZ joined Ogilvy & Mather as its worldwide editorial director after two decades working in publishing as an editor, writer, literary agent, and consultant.
In this Book
Reframe the Marketplace—The Total Market Approach to Reaching the New Majority
Separate but Equal
The Source of Growth—The Underserved Consumer
What’s Wrong with General-Market and Multicultural Marketing?
Tales from the Front—Companies Trying to Get It Right
Experimenting with the Total Market Approach
Step One—New Majority Readiness—The Organization Assessment
Step Two—Structuring Your Organization
Step Three—Rethinking Your Consumers and Customers
Step Four—Designing the Right Customer Experience
Step Five—Using Big Data to Measure Total Market Enterprise Results
What Happens in 2040 2020 When Minorities Are the Majority?
Implementing the Total Market Approach around the World