Minority Research Paper

Description of the nutrimentstuff Market specifics need to be c arfully analyzed and market placeers should be neck known with the data for each. In crop to market a station or specific goods/services, marketers should be sensitive to each comp some(prenominal) and shouldnt be afraid to tap into each market. Below is information on the threesome largest minority groups in the linked States and what each one prefers. African Americans The substance numbers in the US is 42 gazillion ( united States enumerate berth). African Americans make up 13. 6% of the total US existence (joined States enumerate billet). The rate of growth for this minority group from 2000 to 2010 was 15. % ( unify States nose count Bureau). The just house take on size is 2. 7 (United States count Bureau). The average age for African Americans is 32. 1 (United States nosecount Bureau). The percentage of African Americans 25 and older that hold a bachelors degree or heightser is 18% (United St ates nose count Bureau). The median income per socio-economic class was $32,068 (United States numerate Bureau). More than half of the African-American commonwealth (55%) live in the Southern states. Texas, Florida, and Georgia hurl a population of about 3 million, while naked York still has the gamy gearest with 3. 4 million (Black Demographics).Metro aras with the largest African American population with 1 million or to a greater extent ar New York, NY Atlanta, GA Chicago, IL Washington, MD-VA Philadelphia, PA Los Angeles Long Beach, CA Miami gird Lauderdale, FL Houston, TX The brands that energise a higher than average secure rate among African Americans are Procter & Gamble, LOreal, Yoplait, General Motors, Oreos, Slim Fast, Tide, Campbells, Ragu, Lexus, Pampers, Jell-O, and Levis (Sampey). Specific products that have above average consumption for this group are basic food ingredients, beverages, personal care items, and beauty care. The best media to use in sec ernate to mastermind this group is television because African Americans watch more TV than any former(a) minority group. The next best would be the internet and the radio. Asian Americans The total numbers in the US is 17. 3 million (United States census Bureau). Asian Americans make up 5. 6 percent of the total US population (United States census Bureau). The rate of growth for this minority group from 2000 to 2010 was 46% (United States Census Bureau). The average household size is 3. 53 (United States Census Bureau). The average age for Asian Americans is 34 (United States Census Bureau). The percentage of Asian Americans 25 and older that hold a bachelors degree or higher is 50% (United States Census Bureau). That is higher than any group in the United States. The median income per year was $67,022 (United States Census Bureau). About three-quarters of the Asian American population live in metropolitan areas such as the San Francisco Bay Area, New York metropolitan area, and t he Greater Los Angeles Area (Beckwith). They make up for 1-2 million citizenry in each place. They are mainly concentrated in volt states, which are California New York Texas Illinois Hawaii A few brands that have a higher than average purchase rate among Asian Americans are Toyota, Honda, Coca-Cola, IBM, Head & Shoulders, and Tylenol (Lindorff). Wealthy Asian Americans tend to buy lavishness brands, such as Chanel, Rolex, Loius Vuitton, Armani, and Nordstrom (Lesonsky). Specific products that have above average usage for this group are furniture, footwear, c holehing, food, and vehicles. The best media to use in order to target this group is the Internet and recentspapers, as well as direct broadcast printed in their language. Latino Americans The total numbers in the US is 52 million (United States Census Bureau). Hispanic Americans make up 16. 7 percent of the total US population (United States Census Bureau). The rate of growth for this minority group from 2000 to 2010 wa s 43% (United States Census Bureau). The average household size is 4 (United States Census Bureau). This is most likely due to a high fertility rate among this group. The median age for Hispanic Americans is 27 (United States Census Bureau).. The percentage of Hispanic Americans 25 and older that hold a bachelors degree or higher is 13% (United States Census Bureau).That is the lowest amongst the three groups. The median income per year was $37,759 (United States Census Bureau). Hispanic Americans are concentrated in the South and the western geographically. About 50% of the population lives in California, Texas, and Florida. California has the highest than any other state, which is 14 million (infoplease). Examples of brands that have a higher than average purchase rate among Hispanic Americans are Corona, Sunsilk, OPI, Ouidad, and Goya (Genuario). Specific products that have above average usage for this group are small appliances, footwear, furniture, and food. The best media to use in order to target this group is through Spanish television networks and printed media. byplay POTENTIAL African American The African-American community is a really important market because of their great spending trends and purchase business office. Their buying power is estimated to reach $1. 1 trillion in a few age (Multi- cultural Demographics). This ethnic group consists of 43 million individuals and marketers should be hard put if they havent tapped into this ever- exploitation market (United States Census Bureau).African-Americans are one of the most brand loyal customers and make trips to the store more than any other group. If a national marketer were to get the management of this ethnic group, the brand they would be promoting would grow, since African Americans stick to their brands. A new middle class has emerged for this group, thanks to more educational opportunities that result in higher incomes. This growing middle class is very fashion, brand, and price ascertain(p)d and goes shopping for pleasure and social fun. This alone should encourage more marketers to tail this minority group and occur ideas on how to market specifically to this group.Asian American The Asian American population is growing faster than the total population due to immigration. Its growing even faster than the Hispanic group and is the fastest growing ethnic group in the US ( social Demographics). The overall business potential for this minority group is very high because Asian Americans are more likely to be fatty than any other minority consumer. That is because they are better modernised, even more so than the average American. They are in a lot of top-level jobs and have high specialties. Their buying power is very high and continues to grow.Currently, they spend more than $ cholecalciferol billion annually and their buying power is projected to reach up to $697 billion by the year 2014 (Lasonsky). Much of the valuable market incision is still underest imated and overlooked. Thats why it is important to dig in to this market and develop a great marketing strategy. This group spends more on education, housing, and food than the average US household. As a marketer, there is a good start already by knowing what the consumer wants. A lot of brands have an attitude that asks why they should target this market if theyre already buying the product.Well, its important because there is a huge luck to build long- croaking relationships and customer loyalty. Asian Americans are consumers that like to educate themselves about prices and products before they dive in and buy something. So, if you would like to ob table service this markets attention, make sure you emphasize great deals and point on product quality. Hispanic American The Hispanic American market is a very important part of the US economy. This group is growing quite rapidly and marketers should be aware of all of the data. By 2015, the buying power for Hispanics is expected to reach $1. trillion (Multi-ethnic Demographics). In the last few years, the increase in income and population has given marketers new opportunities. This allows them to come up with a whole new marketing plan to serve the Hispanic Americans needs. This market should be approached as a long-term investment. Since the median age for Hispanic Americans is 27, we can see that this ethnic group is younger than the others (United States Census Bureau). This gives marketers a portion to succeed in using geographic, demographic, and psychographic segmentation.By using this information, marketers can position themselves favorably and gain market share. Since many Hispanic Americans speak both position and Spanish, this gives marketers a chance to develop marketing synergies. Marketers should also make sure their general market message reflects the Hispanic culture because if a consumer feels that the brand does not care about them, their message would be ineffective. In order to reach Hisp anic Americans through marketing, make sure you know their backgrounds, give them a feeling of home, and most importantly build relationships.Bibliography Asian/peaceable American Heritage Month May 2012. United States Census Bureau. United States Census Bureau, 05 Sept 2012. Web. 7 Sep 2012. . Beckwith , Ryan. Asian-Americans Dont remain in Swing States. Congress. org. Congress. org, 03 May 2012. Web. 7 Sep 2012. . Black (African-American) muniment Month February 2012. United States Census Bureau. United States Census Bureau, 05 Sept 2012. Web. 7 Sep 2012. . Black Demographics. com. Black Demographiics, 2010. Web. 7 Sep 2012. . Genuario, Leah. The U. S. Hispanic peach tree Market. .Picard Holdings LLC, 2011. Web. 9 Sep 2012. . Hispanic Americans By the Numbers. infoplease. Pearson Education, 2012. Web. 8 Sep 2012. . Hispanic Heritage Month 2012 Sept. 15 Oct. 15. United States Census Bureau. United States Census Bureau, 05 Sept 2012. Web. 6 Sep 2012. . Lesonsky, Rieva. Sma ll Business Tap Into the stiff Asian American Market. Small Business Trends. Small Business Trends LLC, 13 June 2012. Web. 8 Sep 2012. Lindorff, David. Marketers slowly begin to tap into U. S. s rich Asian consumers. . Media Life, n. d. Web. 8 Sep 2012.Sampey, Kathleen. African-Americans Show More Love to Brands Than Caucasians. Yahoo Finance. Yahoo. com, 15 Aug 2012. Web. 7 Sep 2012. . Bibliography (contd) Study African Americans love them some brands. electronic Urban Report. EurPublisher, 07 Aug 2012. Web. 6 Sep 2012. . Westlund, Richard. Marketing to Hispanics 2010. Finding the Gold in Hispanic Marketing. Adweek, 27 April 2011. Web. 9 Sep 2012. . 2010 Census Shows Americas Diversity. Multi-ethnic Demographics. National Association for Multi-Ethnicity in Communications, 2012. Web. 9 Sep 2012.