Marc Pritchard, Chief Brand Officer, Procter & Gamble
Marc Pritchard of Procter & Gamble: Multicultural marketing is mainstream marketing
25 de octubre de 2021
“The industry is losing a tremendous opportunity in marketing potential,” said Marc Pritchard, chief brand officer of Procter & Gamble, to begin his presentation at the 2021 ANA Multicultural Marketing and Diversity Conference.
Pritchard considers the multicultural market one of the industry’s greatest opportunities for growth. However, “we still lack a representative inclusion of Hispanics, Blacks, Asians, the Indigenous population, the disabled and the LGBTI community. If we keep evading them, we’ll be losing what the industry and all its clients long for: growth!” he said.
He recalled that over the past 10 years, growth of the U.S. population has been distinctly multicultural.
“We all want the market to grow. If the market grows, brands take off, new users are added to the market, consumption increases, innovation blossoms and opportunities for new businesses are created,” Pritchard said.
He added that over the past year, more than half the sales came from the multicultural market. For that reason he insisted that the industry must break its old habits.
“We must take action now. If we don’t, in a few years this great multicultural market that we’re losing will ask why the brands didn’t wake up sooner,” he said.
The first action Pritchard spoke of as something that must be pursued is a change of mentality. “We can’t separate the multicultural market from the rest. Multicultural marketing is mainstream marketing. We live in a diverse nation. One look doesn’t fit all,” he insisted.