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."