Summary
The world is evolving. By 2044 the U.S. will be a majority-minority population. Africa and India are projected to fuel the world’s population growth over the next 30 years. With demographics shifting under our feet, how will we generate accurate and relevant insight if the interpreters are not cultural natives to the new demographic mix. This presentation will explore strategies to create pipelines for the next, most diverse generation to have open pathways and onramps to the next chapter of research, insights, and innovation.
Key Insights
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Understanding consumer insights requires diverse perspectives to interpret culturally relevant data.
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A Western-centric view can lead to misalignment between product messaging and consumer understanding in global markets.
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Diversity in teams is essential for minimizing blind spots in decision-making processes.
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Organizations often overlook the importance of diverse voices in research and marketing strategy.
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Financial success correlates with diversity; diverse teams produce better results and profits.
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Cultural contexts significantly influence how consumers perceive value propositions.
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The lack of diversity in decision-makers leads to ineffective marketing strategies.
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On ramps and paid roads are critical in addressing barriers for marginalized groups in career advancement.
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Engaging diverse voices can help organizations avoid biases and improve their research outcomes.
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Fenty Beauty is showcased as a successful case where inclusivity led to a breakthrough in the cosmetics industry.
Notable Quotes
"Our team approached the project with a Western lens and bias."
"Our initial interpretation of market data led to significant missteps because we didn't include diverse perspectives."
"Diverse companies typically perform better because they remove blind spots and biases."
"For every 10% increase in gender diversity at the top, company earnings increase by 8%."
"The concept of power didn't resonate in every market; we had to translate it into choice."
"Access is often limited for underrepresented groups; we need to create proper on ramps."
"Who has organizational power and voice in discussions can drastically change outcomes."
"We need to question who is missing in decision-making processes."
"Inclusivity in teams broadens the scope of insights and questions asked."
"Diversity isn't just about gender or ethnicity; it encompasses a range of perspectives."
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