Marketing Research on Three Minority Groups
Minority Research Paper
The following report is purposed on undertaking marketing research and gaining knowledge regarding different consumer markets. In particular, the report provides information about the size, location, purchasing power, and the market potential for the three largest minority target markets in the United States. These target markets include African-Americans, Hispanic-Americans and Asian-Americans. In addition, the report will expound and give detained analysis information of business potential for each minority target market.
AFRICAN-American
Total numbers in the U.S.
million (United States Census Bureau)
Percent of the total U.S. population
% (Centers for Disease Control and Prevention)
Rate of growth
The U.S. Census Bureau forecasts that by the year 2060 there will be approximately 74.5 million African-Americans comprising those of more than one race in the United States, a figure that will constitute about 17.9% of the total U.S. population (United States Census Bureau)
Average household size
An average of 2.58 people per household (Baker, 2013).
Average age
The average age is about 32 years and statistics indicate that roughly 47% of African-Americans are below the age of 35 (Baker, 2013).
Statistics indicate that between the years 2000 and 2009, there was a significant rise and increase in the number of African-Americans who attended colleges and universities and earned degrees. In the present, this figure has grown to 45% of the men and 54% of the females (Baker, 2013)
Average or median income levels
The average income of African-Americans across the nation is estimated to be $47,290 (Baker, 2013).
Geographic location(s) -- metro, states, etc.
Atlanta, Washington D.C., Houston, Dallas, Miami/Ft. Lauderdale, Raleigh, Baltimore, Memphis, Jackson, Mississippi and Columbia, South Carolina (Nielsen, 2013).
Brands that have higher than average purchase for each group
Lexus, General Motors, Google, Fidelity, Slim Fast, UPS, Tide, Pampers, Jell-O, Doritos, Dawn, Oreos, Ragu, Campbell Soups, Yoplait, Dentyne, Charmin, Bounty, Betty Crocker, Walmart, the Gap, Lowe's, Macy's and Levi's (Market Wired, 2012).
Identify specific products, which have above average usage for each group
African-Americans have immense buying power for several shopping preferences, for the most part, for household, travel, health and beauty, smart phones and child associated items (Baker, 2013).
Best media to use to target each group
Best media to use is by avoiding a mass-market approach and embracing a more targeted strategy using niche media, including African-American newspapers, magazines and radio (Alderton, 2011).
ASIAN-American
Total numbers in the U.S.
The prevailing population of this minority group is approximately 19 million (Nielsen, 2013).
Percent of the total U.S. population
Roughly 6% of the total U.S. population (Nielsen, 2013).
Rate of growth
This minority group has a population growth rate of approximately 58% between the years 2000 and 2013 (Nielsen, 2013).
Average household size
The family unit of Asian-Americans has a greater than average household and every so often has manifold cohorts subsisting together (Nielsen, 2013).
Average age
In 2010, the average age of Asian-Americans in the United States was 35.4 years (U.S. Census Bureau, 2012)
The percentage of single-race Asians 25 years and older who had a bachelor's degree or higher level of education paralleled with twenty-eight percent for all Americans of the ages 25 years and older (U.S. Census Bureau, 2012)
Average or median income levels
The average income for households in this minority target market continues to increase and signifies the uppermost of all multicultural groups. Asian-American households averagely make more than overall U.S. households and are more probable to have earnings of $100,000 or even higher (Nielsen, 2013).
Geographic location(s) -- metro, states, etc.
Asian-American growth is increasing further than the customary hubs of the West Coast and New York City; nevertheless, the general population continues to assemble in town, metropolitan areas (Nielsen, 2013).
Brands that have higher than average purchase for each group
Asian-Americans prefer Costco to Wal-Mart, brand names over generics and are the front-runners in the nation as a demographic in online buying (Do, 2013).
Identify specific products, which have above average usage for each group
Online and e-commerce products. 77% of Asian-Americans made internet buys compared to 61% of overall population (Nielsen, 2013).
Best media to use to target each group
The Asian-American target market are digital innovators and forerunners and adopt technology quicker compared to any other minority group. Having greater usage rates for smartphones, the greatest online video consumers, and internet connectivity, this minority group is altering the manner in which they watch, pay attention, and interrelate (Nielsen, 2013).
HISPANIC-American
Total numbers in the U.S.
The population number of Hispanic-Americans is over 52 million individuals (Nielsen, 2012).
Percent...
Marketing Management My organization is the Redwoods Group, which is a specialized insurance provider. The company states its core purpose is to serve others, and its focus is to keep kids safe. They note that solutions to many problems are "often inconvenient for those used to doing things a particular way" and that Redwoods "engages in uncomfortable conversations with people who are not ready to face these issues: public officials, educators,
Whether one is browsing through Cosmopolitan or any other magazine all the leading glossies will have special pages adorning the advertisement of this fashion brand of women's tops. High Fashion brands try to explore new avenues to further build their association with high-end target market by linking themselves to certain events and programs as part of their promotional techniques. 'Flamenco' would also make association with major Hispanic events already in
According to a 2001 study, 86% of protagonists were white males, non-white males were portrayed in stereotypical ways: "seven out of ten Asian characters as fighters, and eight out of ten African-Americans as sports competitors" (Ethnic pp). Roughly nine out of ten African-American females were victims of violence, twice the rate of white females (Ethnic pp). Moreover, 79% of African-American males were shown as verbally and physically aggressive, compared
Marketing Plan for Glisten & Shine Glisten & Shine is jewelry and accessories-based company and shall be providing a variety of jewelry items such as necklaces, earrings, rings made from special customized gems, and later on would be diversifying its product line into bracelets, cufflinks, tie-pins, jewelry hair-pins and hair accessories, belts etc. G&S's jewelry will be special as the customer will be able to re-use it over and over again and
The broader areas of Customer Relationship Management (CRM) serve as the foundation of client relationship management and analysis (Ravanas, 2007). There is the second weakness of also concentrating on the corporate donors as a largely homogeneous group. This can be seen in the approaches defined in the Club's annual report. The tailoring of individualized strategies can maximize the experiences of donors so they have a higher level of ownership in
marketing mix pubs entice gamblers? 2. Ethical issues marketing pubs, impacts individuals, groups society a . The answers specific case situation. CASE STUDY: Drinking gambling: What core business pubs? Introduction Known slot machines world, 'pokies' a business continues grow Australia. Setting the context The gambling industry is often associated with the large American casinos, which attract wealthy individuals from across the globe, and which are luxurious and enticing. These casinos integrate
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now