There is an emerging market reality in the United States, driven by changing consumer population dynamics, heightened global competition and greater demand for corporate transparency and accountability. Companies that are able to realign their diversity initiatives, Corporate Social Responsibility (CSR) and multicultural marketing efforts can produce new levels of value in this changing marketplace. But before that can happen, we need to broaden and redefine diversity to encompass cultural competence, the ability to understand underlying value systems and behavioral influences that shape consumers' attitudes and buying behavior.
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