Could multicultural consumers be the market force that helps businesses emerge from the current economic downturn?

DePaul University will convene a summit of top executives from Fortune 500 companies and marketing professors in Chicago on June 25 and 26 to explore this question and others involving the power and potential of the multicultural market. Among the speakers will be the co-president of consumer foods from ConAgra, as well as high-ranking marketing strategists and division vice presidents from Sara Lee Corp. Ford Motor Co., Wm. Wrigley, Jr. Co., McDonald’s Corp., Abbott Laboratories, Macy’s Inc. and Walgreen’s Co.

The main speaking programs will be held 8:30 a.m. to 12:30 p.m. June 25 and 7:45 a.m. to 3:30 p.m. June 26 at the Chicago Hilton, 720 S. Michigan Ave., Chicago.

"Titled ‘Into the Core: Academia + Business,’ this conference will address the challenges and opportunities facing businesses as they integrate multicultural marketing into core strategies for growth and profitability," said Loida Rosario, a faculty member and director of partner relations for DePaul’s Multicultural Marketing Program, which is hosting the event. "Our goal is to contribute new knowledge and discipline that will help businesses and professionals be better marketers in the United States, while leveraging the skills gained with multicultural markets at home in the global environment."

Recent studies and census figures underscore why the multicultural market is so crucial to marketing strategies and future growth for American businesses.

The projected buying power through 2013 of African Americans, Asians, Native Americans and Hispanics represents "formidable economic clout," according to a 2008 University of Georgia Selig Center report, which noted that the African-American market ($913 billion) and the Hispanic market ($951 billion) are "larger than the entire economies of all but 13 countries in the world." And by 2023, more than half of U.S. children under 18 years of age will be from a diverse background, according to the U.S. Census.

"With such seismic changes, multicultural marketing can no longer be about ‘niche’ strategies, but rather about ‘mainstream’ and globally intertwined trends," Rosario said.

The historic election of a president from a multicultural background also influences the move of multicultural marketing into the mainstream. Indeed, one of the conference sessions will explore "African-Americans in the Age of Obama."

The June 25 program targets business professionals who need to update essential knowledge and best practices involving marketing to Hispanics, Asians and African Americans. The second day is geared to seasoned managers who are grappling with strategic issues surrounding the integration of multicultural market efforts into overall business strategies. Ray Whittington, dean of the College of Commerce, and Sue Fogel, chair of Marketing at DePaul, will host two sessions.

The June 25 agenda includes:

8:30 a.m.: "The Executive Business Case," a discussion of how executives can build a case to support multicultural initiatives. Presenters: Loida Rosario, DePaul, and David Perez, co-CEO, Geoscape.

9:20 a.m.: "Cultural Identity," a discussion of cultural identity complexities in designing marketing campaigns. Presenter: Jaime Noriega, professor of marketing, DePaul.

10:15 a.m.: Symposium on new marketing trends and best practices, with emphasis on the youth and women market segments of the African-American, Asian and Hispanic communities. Speaker: Jennifer L. Woods, executive vice president, San Jose Group.

11:15 a.m.: "African-Americans in the Age of Obama," Presenter: McGhee Williams Osse, co-CEO, Burrell Communications Group.

11:50: "Multiple Asians: Beyond Ethnicity." Presenter: Sharmila Fowler, senior vice president, New American Dimensions.

The June 26 agenda includes:

8 a.m.: "Global Linkages of Multiculturalism." Presenters: Bernardo Meza, senior U.S. multicultural marketing manager, Wm. Wrigley Jr. Co.; Vivian Chen, senior manager, Asian Segment, McDonald’s Corp.; and Luis Larrea, marketing executive-in-residence, DePaul.

9 a.m.: "Innovation and Market Development Strategies." Presenters: Bill D. Motley, divisional vice president, Corporate Accounts and Business Development, Abbott Laboratories; Catherine Lindner, divisional vice president, Walgreen’s Co.; and Nina Diamond, marketing executive-in-residence, DePaul.

10:15 a.m.: "Embracing the Digital World, Pronto," Presenters: David Rodriguez, manager, Multicultural Marketing, Ford Motor Co.; Jack Philbin, VIBES Media; and Loida Rosario, DePaul.

11:15 a.m.: "Integrating Capabilities: Talent Management, Community Affairs and Strategic Marketing." Keynote address by S. Palacios, executive vice president, Cheskin Research.

12:15 p.m.: Luncheon panel discussion on "C-Suite Perspectives." Panelists: Luis Nieto, co-president, consumer foods, ConAgra Foods; Philippe Schaillee, vice president, Marketing, Strategy and Research and Development, Sara Lee Corp.; and Peter Sachse, chief marketing officer, Macy’s Inc.

2:30 p.m.: "Goal-based Return on Investment Measurements." Speakers: Martin R. Castro, vice president, External Affairs, Aetna Insurance; Cynthia Neumann, director of consumer insights, Advanced Analytics, ConAgra Foods; and Loida Rosario, DePaul.

DePaul, which launched its multicultural marketing academic program two years ago, has forged strong links with prominent companies and individuals in the industry through the program's advisory board, to the benefit of students. Verizon Wireless gave a grant to sponsor 20 MBA students to attend the conference, and Macy’s has asked four students to be involved in its June 18 LATINA Style Business Series.

"Through its academic program and this conference, DePaul is taking an innovative approach to addressing multicultural marketing by emphasizing business strategy and measurement, while engaging both general and multicultural executives and professionals," said Luis Nieto of ConAgra. "DePaul is creating partnerships between faculty and business to provide much-needed skills and thought leadership in this area."

The two-day conference fee is $500.  For more information about other special offers and to RSVP, please visit http://www.marketing.depaul.edu/MulticulturalMarketing/Summit_2009/
or contact Loida Rosario at (312) 362-5546 or arosari1@depaul.edu.