Minority Marketing Essay

2498 Words Feb 27th, 2013 10 Pages
Minority Marketing Research Paper
[Type the document subtitle]

9/16/2012

Minority Research Paper
26 AUG 2012
MKTG 310

American consumer’s needs and wants are forever changing in a world of changing diversity and what makes for a successful business today may not be the same in the future, it’s almost a certainty. Evolving diversity marketing must be studied closely to recognize differences in cultural and social settings in large groups because lifestyles of different cultures are dictated by various values, beliefs, entertainment and interaction. All of these different aspects drive particular wants and needs that are imperative for a company to recognize for self preservation over their competition. The growth
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The median age of African Americans is 30, nearly six years younger than the median age of the total population. (A.M.C)

D. Percentage with college degrees
a. The census estimates that in 2009, 28 percent of Americans 25 and older had at least four-year degrees, but the rate for black Americans was just 17 percent. (Richards)

E. Average or median income levels
a. 2005 - $31,041, 2006 - $32,465, 2007 - $34,168, 2008 - $35,575
2010 - $33,799 (DeShay)

F. Geographic location(s) – Consider your customers’ geography: African-American consumers are most concentrated in the South and the top five African-American markets are New York, Chicago, Los Angeles, Atlanta and Washington, D.C. (Marketing to African Americans)
a. African American Population by Regions: South – 23,105,082, Midwest – 7,594,486, Northeast – 7,187,488 and West – 4,133,687 (DeShay)

G. Brands that have higher than average purchase for each group
a. The top 10 most attaching category brands for African-Americans are luxury cars/technology/one sports brand (Nike)/and a feminine necessity. (Yahoo finance news)
1) Lexus, 64%
2) Google Search, 62%
3) Mercedes Benz, 61%
4) Google, 60%
5) I-Pod, 59%
6) I-Phone, 59%
7) Microsoft Office, 59%
8) Always, 58%
9) Nike, 57%
10) Microsoft Windows, 57%

H. Products which have above average (spending) usage for African Americans households.
1) Apparel

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