For each “ethnic” group write a minimum of 2 paragraphs analyzing the business potential using the information found in your research for Part 1 and additional research necessary to complete your analysis. African American The African American demographic is a highly sought after group when it comes to the world of marketing. Not sought after because of their size or growth, or even overall numbers, but rather, their loyalty. Brand loyalty is huge amongst African American buyers. This demographic prefers what they are familiar with and they stick to it. If companies use the right approach, they can capitalize on the brand loyalty of this demographic. When brand loyalty is paired with the metro environment in which the majority of this group resides, it gives ample ability to target them via billboards, radio ads, and even local television. While their rate of overall growth is currently slow, this group is the leading demographic of increased college graduation rates. This contributes to the idea that this consumer is going to be well informed; they will make decisions based on past experience, as well as word of mouth of friends and family. Asian American According to the research, the Asian American demographic …show more content…
Based on the secondary data collected, it is also known that premium brands are top sellers for this demographic. It seems that high-quality products would go hand in hand with a more tech-savvy consumer since online research into products, features, and reviews can be done. The family is another way to reach this consumer base; products that speak to a strong family connection also are received well. An example of a product that would potentially be well received by this base would be a luxury SUV or Van that focuses on its safety rating, features, and has an advertising concept based on family