Minority Marketing

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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 and consumer consumption of America’s Minority groups are growing at a compounded rate that has created a new exploding market to be utilized. It’s critical to understand the meticulous data gathered from consumers to create the most effective marketing plan to reach are targeted consumer. The following is an outline covering important demographics of three major minority groups in America including; African Americans, Hispanic Americans and Asian.

I. AFRICAN AMERICAN

A. Total numbers in the U.S.
a. 2011 Black Population: 43.2 million, 14.1% of US

In 2011 US Census Bureau estimates 43,884,130 African Americans 14.1% of the total population of 311.5 million in the U.S. This includes those who identify as Black only and as Black in combination with another race. The Black only category counts 40.7 million or 13.1% of the total U.S. (DeShay)

B. Rate of growth
a. Future Black Population (in millions)
2010 - 42,163
2015 - 44,906
2020 – 47,74
2025 - 50,626
2030 - 53,519
2035 - 56,453
2040 -59,454
2045 - 62,534
2050 – 65,703 (DeShay)

C. Average age
a. There are 35 million African Americans in the…...

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