African American Marketing Strategy

African Americans
When you consider the fact that there are “44 million African Americans that make up for the US population today” (Lamb et al., 2016 p. 56) do I write full name here?, this number equates to some serious buying power among American consumers. It is estimated that their “total buying power is expected to reach $1.3 trillion within a few years” (Lamb et al., 2016 p. 56). There are significant reasons why a marketer would to get a piece of this” buying power pie”. Statistics show that this population “tends to be young, giving them a strong influence on the latest trends especially when it comes to music and pop culture” (Lamb et al., 2016 p. 56). Automobiles, hair care, telecommunications, entertainment, and clothing as the

This tactic does work, however once you have employed the use of this sort of marketing strategy, how do you reach the masses? Niche marketing for this sub-group works best when you use a “more targeted strategy”, (Alderton, 2017, para. 6) such as community sponsorships and out-reach programs. A company might want to sponsor a back to school drive in a targeted area where a majority of African Americans reside, this is a good example of supporting their community which in return creates localized brand

8) and because they average larger than normal household, this sub-group is an average consumer. There are many opportunities for a brand to grow in this multicultural market. Most Hispanic Americans are bi-lingual and are deeply rooted into their traditional family cultures and communities. Marketing to this sub-group requires geographical targeting to find out where they reside and demography studies as well, researching their particular cultures to understand what drives this consumer to buy based on this type of research will ensure a brand is reaching their actual target Hispanic Market. Their purchasing habits “differ widely enough that Latinos from one region may be unaware of the food, slang, and event music from another region” (Lamb et al., 2016 p. 56) do I write full name here, thus making it very important for a firm to do their marketing research when it comes to targeting this sub-group. They are loyal to their community and when recognizing their passion for traditions a brand can “directly stimulate revenue increases and market share growth” (Store Brands, 2014, para. 4). It would be wise to target this group using bi-lingual campaigns, print materials, smart product packaging, local Latin radio stations, and bi-cultural driven community events. Supporting their language and values are a very important