For Procter & Gamble – the owner of blue-chip products like Tide detergent, Pampers diapers and Gillette razors – multicultural is every bit as much an economic issue as it is a social imperative.
Such a philosophy makes considerable sense “when you consider the demographic and spending power growth projections of multicultural consumers,” Marc Pritchard, P&G’s chief brand officer, said at the Association of National Advertisers’ (ANA) 2019 Multicultural Marketing & Diversity Conference in San Diego, California.
“The size of the prize is big – up to $1 billion in extra sales just by achieving market shares equal...