Marketing Research And Consumer Trends Of African, Asian, And Hispanic Americans In The United States Essay.

The Internet provides a wonderful opportunity for doing marketing research and learning about various consumer markets. In this research paper, you will be preparing a report on the size, location, purchasing power, and market potential for the three largest minority target markets in the country—Hispanic Americans, African Americans, and Asian Americans.

Your paper is worth 100 points, see the breakdown of the points below. Part 1of your paper is to be in outline form. Part 2 will be narrative (paragraph.) Not all information on each market will come from just one source. I recommend you use the resources available through the Stafford Library. This gives you access to a wide variety of accurate online sources for your research. In addition, you will need to access more than one website for each market. All of the information below needs to be included in each report. Be sure to cite all information that is not common knowledge and provide a bibliography at the end of the paper.

Overview of US population

The United States of America is considered as developed country with the population of 327millions. It is also considered as home to those who are other than Americans. The country encompasses different mixture of culture as well as lifestyle. It has great potential market. The other than Americans have different purchasing power which is depends on their income as well on their income. In the following context, there will be discussion on the demographics of African, Asian and Hispanic of United States of America in which there will be detailed study on the marketing research and trends of consumers of these groups in U.S.

Total numbers in the U.S.

Answer- There was approximately forty six million African Americans in US (Source: Black Demographics)

Percent of the total U. S. population

Answer- Approximately fourteen per cent (Source: Black Demographics)

Rate of growth

Answer- The rate of growth of African American in US is fifteen percent (Source: Black Demographics)

Average household size

Answer- Approximately 3.2 individual per family (Source: United States Census)

Average age

Answer- The average is thirty one years of African American (Source: United States Census)

% with college degrees

Answer- Eighteen percent African Americans have Bachelor Degree (Source: United States Census)

Average or median income levels

Answer- Approximately $38000 by 2017 (Source: United States Census)

Geographic location(s) – metro, states, etc

Answer- the highest population of African Americans is settled down in California which is accounted as approximately 50 percent. 3.3 millions Of African Americans are settled down in New York. The other top sates are Texas, Georgia, Illinois, Florida, Virginia, Ohio, Maryland and Alabama (Source: New Georgraphy).

Brands that have higher than average purchase for each group

Answer-the brands that are highly purchased for the group are: McDonald’s, Coca-Cola, Ford, State Farm, Procter & Gamble as well as General Mills (Source: Market Wired).

Identify specific products which have above average usage for each group

Answer-the population of African Americans mostly spend their amount on basic products of food as well as beverages, personal health, beauty products as well as on fragrance (Source: Steph Caudle).

Best media to use to target each group

Answer- The best media tools are radio, television as well as print. The internet is also the great influencer for African Americans (Source: Steph Caudle).

Total numbers in the U.S

Answer- The estimated Asian Americans are seventeen million peoples in US.

Percent of the total U. S. population (Source: World Population)

Answer- Approximately five percent (Source: World Population)

Rate of growth

Answer- Approximately forty six percent are the rate growth of Asian Americans (Source: World Population)

Average household size

Answer- Approximately 3.98 members are the average household size of African Americans. (Source: World Population)

Average age

Answer- the average age is thirty five years as of 2016 (Source: Le)

% with college degrees

Answer- it has been estimated that seventy four percent of Asian Americans have bachelor degree in US (Source: Le).

Average or median income levels

Answer- the average income of Asian Americans was $70,000 by the year 2016 (Source: Le)

Demographics of African Americans in the United States

Geographic location(s) – metro, states, etc

Answer- the Hawaii has highest number of population of Asian Americans with 56 % percent. Los Angeles has also 2 million of Asian Americans people, followed by New York with 1.5 million as well as Sans Francisco with Bay area with 980,000 Asian Americans. The other states are California, Illinois, Pennsylvania as well as Virginia (Source: Le)

Brands that have higher than average purchase for each group

Answer- The population of Asian Americans is status conscious therefore, the most preferable brands are Costco, Saks Fifth Avenue as well as Nordstrom (Source: Do)

Identify specific products which have above average usage for each group

Answer- the population of Asian Americans mostly spend their income on fresh products as well as healthy foods which include vegetables, fruits, baby products, grain mostly on rice (Source: Do).

Best media to use to target each group

Answer- social media is the best influencing tool for Asian Americans, as well as ethnic prints are can also be an effective media to target group (Source: Do).  

Total numbers in the U.S

Answer- Approximately fifty seven million of population

Percent of the total U. S. population (Source: United States Census)

Answer- Approximately seventeen percent (Source: United States Census)

Rate of growth

Answer- the rate of growth is approximately two percent (Source: United States Census)

Average household size

Answer- the size of average household is 3.87 people (Source: United States Census)

Average age

Answer- average age is thirty four years (Source: United States Census)

% with college degrees

Answer- thirteen percent of population has bachelor degree (Source: United States Census)

Average or median income levels

Answer- the average income of Hispanic Americans is $ 39000 (Source: United States Census)

Geographic location(s) – metro, states, etc

Answer- 10 million of people settled down in Texas and approximately 1 million of people lives in New Jersey, Arizona, California, Colorado, Illinois as well as in Florida (Source: CNN Library).

Brands that have higher than average purchase for each group

Answer- American Red Cross, Oprah Winfrey as well as Fanta are the most common brands purchase by Hispanic Americans (Source: Marketing Charts)

Identify specific products which have above average usage for each group

Answer- Hair care, baby food fragrance, dried vegetables as well as grains (Source: Marketing Charts)

Best media to use to target each group

Answer- the electronic media greatly influence the purchasing power of Hispanic Americans. Television, newspaper as well as radio are an effective advertisement tool to target Hispanic Americans (Source: Marketing Charts).

Analysis of Business Potential for Each Group

The population of African Americans is approximately forty six millions in which fifty percent of the population are settled down in the state District of Columbia. The pollution of African Americans is mostly relying on the requirement and preference of multicultural consumers. The purchasing power of African Americans is not very high as comparison to other Americans due to the reason that their median of income is quite low.

But in the recent scenario, it has been analyzed that the purchasing power of African Americans reaches to one trillion dollar by 2010. It is estimated that sixty four percent of population spend their income more on products which enhance their purchasing power. Therefore, California has a great market potential to target African Americans.

Asian American

The population of Asian Americans has reached to seventeen million. It has been estimated that Asian American population increased to forty six percent in the recent years which is the highest growth rate among other minority population. The market size of Asian Americans are quit large in Hawaii, Los Angeles and New York. Their spending habit is high because their earning level is quit high as comparison to other Americans.

The Asian Americans are branded conscious therefore, they prefer premium products. The consumer of Asian Americans is increasing in the fast pace as their education and earning are high as comparison with general population. According to their increasing in spending capacity, most of the premium companies target Asian Americans for their products. There is huge market potential in the market of Asian Americans

Hispanic American

In the country USA, the population of Hispanic has reached to fifty two million which is considered as the highest minority fragment that is expected to rapidly grow in the near future. The rate of growth is two percent which regards as an average growth. The population of Hispanic is mostly found in the state Texas with the population of ten millions of people.

In the research, it has been found that the purchasing power of Hispanic population has been increased to $ one trillion by the year 2016 which is accounted as increased to ten percent of total U.s purchasing power. The market of Hispanic has great potential as comparison to other market because they maintain their income which makes strong purchasing power of Hispanic population. The Latinos business has increased to $486 million by the year 2015. Therefore, the growth trend characterizes the high potential of Hispanic Americans which are expected to grow further.

United States Census, Facts for Features: Hispanic Heritage Month 2017 (31 August 2017) < https://www.census.gov/newsroom/facts-for-features/2017/hispanic-heritage.html>

Marketing Charts, Hispanic Display Brand Loyalty in Key Categories (19 April 2012) < https://www.marketingcharts.com/industries/retail-and-e-commerce-21840>

Le C.N., Asian-Nation: The Landscape of Asian America (24 November 2018)

Do Anh, Asian Americans are the most prolific spenders in U.S., survey shows (05 December 2013) <https://www.latimes.com/local/lanow/la-me-ln-asian-american-prolific-spenders-20131205-story.html>

Caudle Steph, Brands that have higher Than Average Purchase for African American (25 May 2015) <https://blackgirlgroup.net/brands-that-have-higher-than-average-purchase-for-african-american>

World Population, World Population Review (2018) < https://worldpopulationreview.com/countries/united-states-population/>

Black Demographic, Population Estimates (2018) < https://blackdemographics.com/population/>

United States Census, National African-Americans History Month (01 January 2017) < https://www.census.gov/newsroom/facts-for-features/2017/cb17-ff01.html>

NewGeography, The Shifting Geography of Black America (05 May 2011) < https://www.newgeography.com/content/002371-the-shifting-geography-black-america>

CNN Library, Hispanic in the US fast Facts (22 March 2018) < https://edition.cnn.com/2013/09/20/us/hispanics-in-the-u-s-/index.html>

Market Wired, African-Americans Show More ‘Love’ to Brand (15 August 2012) < https://www.marketwired.com/press-release/african-americans-show-more-love-to-brands-than-caucasians-1691165.htm>