This Week's Herman Trend Alert Purpose Emerging as Important Driver of Engagement

The Herman Trend Alert January 20, 1999 Multicultural Markets Present Tremendous Opportunities A recent study released by New America Strategies and DemoGraph Corporation looked at 13 different spending areas, including entertainment, clothing, vehicles, and home purchases. The study compared the projected expenditures for a number of ethnic groups as well as white households. The results were interestingùif not predictable. In the next three years, spending by ethnic minorities will increase at three to three and one-half times faster than, particularly in the areas of healthcare and entertainment. There are a number of good reasons why we're not surprised: A strong, near full-employment economy has provided job opportunities that have put much more money into these folks' previously empty pockets. After watching white households enjoy "the good life" for years, they're ready to buy it for themselves. These ethnic minorities, for cultural and religious reasons, generally have larger families that require higher expenditures for clothing and entertainment, not to mention healthcare. So what does this study mean to marketers? These overlooked minorities offer outstanding opportunitiesùif the marketers understand HOW TO address them. These groups often value different things from white household and from each other, e.g., Asians value owning their own businesses and revere their elders more than other groups; Hispanics value their family relationships and education for their children. If you seek to motivate people to take action, you MUST look at what they value FIRST. © Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Roger Herman and Joyce Gioia, Strategic Business Futurists. (800) 227-3566 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc." WHO SENDS OUT YOUR NEWSLETTERS? We are convinced there is no better choice than ours! We have happily used DataBack Systems to deliver The Herman Trend Alert for over 10 years and. Visit their website (http://www.databack.com) or call Byron directly at 503.941.0427. You'll be glad you did. IS YOUR EMPLOYER AN EMPLOYER OF CHOICE®? Our effective, onsite seminars, workshops, and consulting can help you get there. We offer 1-, 2-, 3-hour, and full-day programs to help you communicate what it takes to become an Employer of Choice® and inspire your folks to get it done. In the future, being an Employer of Choice® will not be optional. Call Carol at 336-210-3547 to arrange a no-obligation conference call. Or order the electronic version of the Employer of Choice book on your desktop for only $17.80 @ http://hermangroup.com/store/books_all.html#2. STRUGGLING TO FIND THE PEOPLE YOU NEED? VETJOBS CAN HELP! Recently, hundreds of thousands of jobs remain unfilled due to a lack of capable people. If you are looking for qualified candidates, you need to hire a veteran using VFW-sponsored VetJobs, the largest military employment site on the Internet. Thousands of returning veterans are looking for good jobs now. Mention this ad in The Herman Trend Alert and receive a 10% discount on job postings. Call Ted Daywalt at 877-838-5627 or inquire at info@VetJobs.com. Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers. New subscribers are welcome. There is no charge for this public service. The Herman Trend Alert is received by over 30,000 subscribers in 78 countries, in addition to other websites and printed magazines. Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Trend Alert service. Click here to sign up for the Herman Trend Alert. Subscribe or Unsubscribe to weekly Herman Trend Alert View this week's Herman Trend Alert Archived Weekly Herman Trend Alerts

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