Segmentation strategies for non‐profits: mining the emerging market of “black gold”
Journal of Business & Industrial Marketing
Article publication date: 1 August 2008
The purpose of this article is to present a strategic conceptual framework for targeting and mining the emerging market segment of Black philanthropy (black gold).
This strategic and normative conceptualization utilizes a socio‐historical and socio‐cultural perspective to posit the black gold construct and recommend tactics for mining it.
Black communities have historically engaged in social justice and self‐help activities for racial equality and advancement and with increasing levels of wealth accumulation now comprise a significant market for philanthropic giving for domestic and global non‐profit organizations. However, in light of Black America's tortured socio‐historical experience and racial/cultural identity, non‐profits must devise a historically‐informed and culturally‐nuanced strategy of relationship marketing to mine the emerging market of black gold.
Domestic and international non‐profits can utilize the proposed strategic conceptual framework to increase their donor and volunteer participation in segmented or minority philanthropy markets.
The proposed framework is strategic in nature, original in conceptualization, and socio‐historical and cultural in its methodological analysis. It can serve as a model, with some contextual modification if necessary, to tap other minority philanthropy markets.
McKinley‐Floyd, L. and Shrestha, N. (2008), "Segmentation strategies for non‐profits: mining the emerging market of “black gold”", Journal of Business & Industrial Marketing, Vol. 23 No. 6, pp. 416-428. https://doi.org/10.1108/08858620810894463
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