Better late than never.The Chisholm-Mingo Group sails Royal Caribbean into the future After almost tripling their money spent on cruises from 1997 to-present, African Americans African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. are finally getting noticed by the travel industry. First in line to reap some of the benefits from this newfound new·found adj. Recently discovered: a newfound pastime. Adj. 1. newfound - newly discovered; "his newfound aggressiveness"; "Hudson pointed his ship down the coast of the newfound sea" attention, is the Chisholm-Mingo Group Inc., (No. 4 on the BE ADVERTISING AGENCIES list). The New York-based advertising agency expects to increase current revenues of $100 million by 20% next year, through its recent alliance with Royal Caribbean International Royal Caribbean International (OSE: RCL NYSE: RCL) is a Norwegian-American cruise ship company based in Miami, Florida. It is a brand of Royal Caribbean Cruises Ltd., with 21 ships in service and one more under construction. All the ships have names ending in "of the Seas. . In April, Royal Caribbean contracted the Mingo Group to help them break into the $4.3 billion African American-travel market. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Royal Caribbean, the agency will be responsible for strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , creative media planning, promotions, and other services to support the expansion of Royal Caribbean's multicultural mul·ti·cul·tur·al adj. 1. Of, relating to, or including several cultures. 2. Of or relating to a social or educational theory that encourages interest in many cultures within a society rather than in only a mainstream culture. marketing efforts. Samuel Chisholm, chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , of the Chisholm-Mingo Group, is excited about adding this segment of the industry to their roster of travel accounts, and exposing his new clients to the highly sought after African American consumer. "Revenue aside, this partnership will continue to represent a way [in which] we can demonstrate our capabilities," said Chisholm. "We approach the market differently from any of our competitors, in that we know how to segment this market into six distinct groups. Then we know who we are talking to Noun 1. talking to - a lengthy rebuke; "a good lecture was my father's idea of discipline"; "the teacher gave him a talking to" lecture, speech rebuke, reprehension, reprimand, reproof, reproval - an act or expression of criticism and censure; "he had to and how to talk to them." Ken Smikle, president, Target Market News, explains that this account is significant because the leisure, travel, and entertainment industries have been the last to recognize how important black consumer dollars have become. "Black income has grown at an unprecedented rate, and industries are capitalizing on that with aggressive marketing strategies," said Smikle. "The cruise liner industry has just begun to take advantage of this." According to Target Market News, the travel industry is divided into 16 industries. In three of those industries--cruise liners, airlines, and hotels--African Americans have consistently spent more than $2.1 billion annually since 1997. Royal Caribbean selected the 100% minority-owned marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales agency because "they really knew the market that we are trying to attract; they have a clear understanding of our overall strategy; plus, the chemistry is there to build a strong client-agency partnership," said Tessa K. Strachan, marketing account executive of multicultural and emerging markets, Royal Caribbean. DOLLARS SPENT BY AFRICAN AMERICANS ON TRAVEL INDUSTRY MARKET 1994 1995 1996 Cruiseliners 104 million 132 million 108 million Airlines 1.26 billion 1.05 billion 1.71 billion Hotel 116 million 746 million 1.02 billion TOTAL 1.480 billion 1.928 billion 2.838 billion MARKET 1997 1998 1999 Cruiseliners 43 million 103 million 112 million Airlines 1.05 billion 1.45 billion 1.28 billion Hotel 1.07 billion 1.02 billion 1.00 billion TOTAL 2.163 billion 2.573 billion 2.392 billion SOURCE: Target Market News |
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