Target marketing is an increasingly crucial component of marketing strategy, particularly given the expanding cultural diversity of the nation’s population. Prior research suggests marketers need to consider the non-target market (consumers who perceive themselves not to be the target of an advertisement) as well as the target market. Further, researchers have called for a more meaning based approach to understanding advertising and consumer behavior. Therefore, in this study we explore the meanings created by target and non-target market viewers of advertising targeting black, white, and gay/lesbian cultures. Results of our study show that asymmetries in cultural expertise, distinctiveness, and stigmatization among these cultural groups influence the meanings created by target and non-target market viewers of ads targeting these groups.