Reframe The Marketplace: The Total Market Approach to Reaching the New Majority, by Jeffrey L. Bowman
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Reframe The Marketplace: The Total Market Approach to Reaching the New Majority, by Jeffrey L. Bowman
Free Ebook Online Reframe The Marketplace: The Total Market Approach to Reaching the New Majority, by Jeffrey L. Bowman
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 2020, ethnic minorities will become the majority. 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. While at Ogilvy & Mather, Bowman was a senior partner and managing director at 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 fully prepare and bring Total Market thinking to your office, department, and division, this smartly effective guide fills your toolbox with: · A self-assessment to evaluate how your enterprise approaches and plans for the New Majority · A five-level framework to Total Market Enterprise Mastery, which quantifies the strategies and systems companies need to adopt at each development stage · A convenient tool to measure your company's progressive readiness for the New Majority and the resulting improved position in the marketplace · A first-of-its-kind index for ranking brands based on meaningful connections with consumers across all racial and ethnic segments, determining what ethnic segments drive the ranking, and pinpointing growth opportunities and revenue potential for particular groups. 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.
Reframe The Marketplace: The Total Market Approach to Reaching the New Majority, by Jeffrey L. Bowman- Amazon Sales Rank: #1237856 in Books
- Brand: Wiley
- Published on: 2015-10-05
- Original language: English
- Number of items: 1
- Dimensions: 9.30" h x .70" w x 6.30" l, .0 pounds
- Binding: Hardcover
- 192 pages
From the Inside Flap
If you still picture marketing in terms of general market and multicultural, the best you can do in today's world is reach just over half of consumers and shrink your business. By 2020, you will lose consumers' attention to other brands attracting and delighting the Total Market. The time to REFRAME the Marketplace is now, or spend the next 50 years watching other companies capture more than $4 trillion of global consumer spending.
Jeffrey L. Bowman, advertising and marketing's most recognized expert on the Total Market Approach, shares his personal experiences as a thought leader and practitioner working to understand, convert, and retain the emerging consumer segments transforming the makeup of the world's population. In these pages, he mentors you in the knowledge and tools you need to be on the forefront of transforming your company into the answer for the consumer who wants an omnichannel connection to products and services and expects brands to reflect a shared experience—but isn't getting it.
Follow in the footsteps of such worldwide brands as IKEA, Verizon, British Airways, and MetLife by embracing the covered action plans and winning the organizational support of employees and management to refresh your brand in a way more appealing to future generations of consumers. To fully prepare you to bring Total Market thinking to your office, department, and division, this smartly effective guide fills your toolbox with:
- A self-assessment to evaluate how your enterprise approaches and plans for the New Majority
- A five-level framework to Total Market Enterprise Mastery, which quantifies the strategies and systems companies need to adopt at each development stage
- A convenient tool to measure your company's readiness for the New Majority and track your improved position in the marketplace
- A first-of-its-kind index for ranking brands based on meaningful connections with consumers across all racial and ethnic segments, determining what ethnic segments drive the ranking, and pinpointing growth opportunities and revenue potential for particular groups
The brand champions you need start trends, speak up, and push for progress in all aspects of life, and REFRAME the Marketplace readies you to get their attention—regardless of where they are aligned in the Total Market approach.
From the Back Cover
GROW YOUR SALES AND EXPAND YOUR REACH BY DEEPENING ENGAGEMENT WITH THE NEW MAJORITY CONSUMER
REFRAME the Marketplace shows you how to see the multihued consumer landscape with fresh eyes and presents a vetted approach to selling your brand to everyone in the Total Market. In the next five years the minority population, what's now referenced as the diverse, will tip the scales and become the majority, and businesses that aren't willing to speak to these consumers in a meaningful way will be left to compete for shares of the less-than-half demographic who used to be its bread and butter. Jeffrey L. Bowman is an innovator and founding practioner, Senior Partner, Managing Director at Ogilvy & Mather, and now leading the $300 billion marketing and communications industry charge. Jeffrey candidly talks about his philosophy and everyday practices for serving delightful customer experiences to the emerging consumers whom the marketing and advertising industry has ignored for the last five decades, including women, the LGBT community, and the followers of non-Christian religions.
REFRAME the Marketplace shows through firsthand accounts what the world's leading brands do to become a Total Market Enterprise™ and supplies an everyday reference that will improve your performance by providing:
- The groundwork to understand why marketing to the general and multicultural markets isn't effective anymore, and real-world examples of companies getting it right
- A collection of tools and best practices for determining your company's readiness to sell to the New Majority, restructuring it for continued improvement, and creating a measurement and performance plan
- Detailed overviews of the three major consumer generations; strategies for accommodating the mobile-first, digital-first New Majority; and predictions on how Generation Z will influence the marketplace
About the Author 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.
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Most helpful customer reviews
2 of 2 people found the following review helpful. Excellent book for brand managers By Louis B. Excellent book for brand managers, ad agencies, and business owners. Easy read and rich with statistics. Jeffrey provides an excellent point of view regarding the importance of understanding diverse audiences and how creating a relevant offering will impact the business. I had to deduct a star because there where too many typos and spelling errors, but the content was rich enough to make the grammatical errors less distracting.
0 of 0 people found the following review helpful. REFRAME’s Ideal Process for The Total Market (Still doesn’t feel like it benefits everyone) By Pepper Miller Recommended Reading: ★★½ of 5 StarsThe idea of total market frustrates me. And I am not alone in this.There are many of us who’ve lived and built our careers in multicultural marketing, and yet, we are struggling to understand the “business” of total market – what it total market (really) is and isn’t, and more importantly, how ethnic marketers and segments can win in this new era of total market.Jeffrey L. Bowman (@jeffreylbowman) and contributor Jeremy Katz, in their recent book, Reframe The Marketplace – The Total Market Approach to Reaching the New Majority attempts to present a winning process that will help marketers seize opportunities with dynamically growing ethnic groups and LGBTs together with the current majority white population – in other words, The New America.Yeah, we’ve heard this before but right away, Bowman goes all-in on marketers for not (ever) adequately supporting and investing in multicultural marketing. Instead of simply glossing over things, Bowman provides a blow-by-blow account of the numerous hits that multicultural marketing withstood since its inception. It is a frank picture of how marketers have failed to leverage multicultural marketing for their advantage.This is a pleasant surprise.I also like how he includes in this process the steps towards correcting this. He lists out the elements/needs/requirements for connecting with The New America:• an enterprise maturation model that tell marketers how New America they really are)• senior management buy-in• the importance of staffing with diverse talent• having realistic budgets• investing in relevant research, etc.None of these, though, are new news to the industry. For years, multicultural marketers have been pushing and pushing out these requests to no avail. So, it’s important to see them reiterated in Bowman’s Total Market discussion. It provides insights and context around the current dismantling of multicultural marketing.Bowman’s big Total Market idea for better connecting with and engaging The New America is more about “organizational change and education and less about marketing”. So he recommends that all marketers convert their businesses to a Total Market Enterprise™ where each would adapt the above requirements over time.This is where he loses me a bit.I respect Bowman for putting in the hours and thought toward this idealistic approach, but rose-colored glasses have also blurred Bowman’s vision from a few potential hiccups. I get the ideal side to converting to TMEs but I struggle with understanding the upside of this process, especially for those of us in the multicultural space. Jeff, my friend, I don’t believe there will be an equal distribution of opportunities and power.First, the big boys with the money and resources are the likely candidates for this transformation. They have the dollars to staff, train, plan and ready themselves for the next big New America opportunity.Second, how will smaller, newly converted, TME businesses that are the experts and keepers of deep insights and long-term relationships with specific multicultural groups, compete with these new large TME businesses? What becomes of BET, Essence, Ebony, Burrell, Lattimer Communications, Univsion, Red Brown Kle’, The IW Group, Walton-Isaacson and The Hunter-Miller Group? Bowman accepts the challenge and this question and said this during an interview with him for this review: “I too do not believe there will be equal placement. What I do advocate is prioritization of assets, which in turn grow the pie for ethnic dollars for the workplace and the marketplace.”I appreciate the optimistic tone of the book, yet, as an advocate of marketers recognizing and speaking to various segments with deep insights, REFRAME has not done enough to allay my concerns.I do, however, recommend this book for all marketers, especially multicultural marketers. We can’t be in the dark about Total Market. REFRAME, at the very least, helps us understand where Total Market is today, its future and how each of us can have a voice in the process.Let’s continue the conversation.
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