Since its inception, the discourse of ethnic marketing has advanced the benefits to firms of segmenting markets and targeting ethnic minority groups in advancing business activity (Cui, 2001). Pires and Stanton (2015) adapted the definition of marketing from the American Marketing Association (2013) in defining ethnic marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for ethnic identified customers, clients, partners and communities, and for society at large” (p. 9, italics added). Importantly, Pires and Stanton’s definition emphasizes the importance of ethnic identification and community habitus and is in synch with the trend in the field of marketing to consider the value of marketing activity to society at large. Much recent work falls within the scope of this definition in seeking to leverage elements of minority ethnicity in developing markets while benefiting ethnic minority people and societies (Jamal, Peñaloza, & Laroche, 2015). This research is part of an emerging stream that seeks to broaden the field by taking a macro perspective and considering social changes in ethnicity over time. Despandé described researchers advancing this stream (in Pires & Stanton, 2015, 348) as having a ‘nose for problems at the group level, rather than at the individual level.’ As examples, Visconti et al. (2014) directed attention to contemporary multiple ethnic identification, and Luedicke (2011) studied ethnic majority people, with both works calling for conceptual clarity and attention to social context, including minority-majority ethnic social relations. In synch with this emerging stream, this paper employs historical and ethnographic research methods in developing a framework tracing ethnic marketing activity as it has resulted from and changed social relations over time. The paper then develops propositions regarding the effects of ethnic marketing on ethnic minorities, ethnic majorities, and on society, and offers updated definitions of ethnic marketing practice and research that more comprehensively encompass the ethnic minority marketing evolution forming the framework. The paper closes with recommendations for practitioners, limitations of the present work, and suggestions for future research.