Consumer Market Chapter 6

Three Most Important Demographic Variables??? Ethnicity Income Age

Population United States: – 317,000,000 World: – 7,000,000,000 Births: – Every 8 seconds Deaths: – Every 12 seconds

Minorities Living In U.S. According to the 2000 census: –3–3 out of 10 residents will be something other than white –2–2006 – Hispanics will outnumber the African Americans –2–2030 – one out of four residents will be either Hispanic or Asian

2010 Census Data

African Americans – 2010 Approximately 42.0 million living in the U.S. (38 million in 2000) – They made up 13.6 percent of the total U.S. population. – The black population grew by 15.4 percent from 2000 to million – Projected black population by July 1, million – Black population in New York, which led all states in 2010 $350 billion spent annually Community support – Businesses offer a lot of community support to African Americans Black history month

Hispanics million (or 17 percent) were of Hispanic or Latino origin living in the U.S. 43 percent increase from the Hispanic population in the 2000 Census 1.3 million – Number of Hispanics added to population between July 1, 2010, and July 1, million – Projected Hispanic population on July 1, 2050 Mexico, Puerto Rico & Cuba are three countries identified as origins of Hispanics Reaching this group: – Spanish language TV 3.5 hours per day are spent watching – Family oriented advertisements – 70% are catholic

Asians Approximately 17 million living in the U.S. (12.5 million 2000) – 5.6 percent of the total population 5.6 million – California; the state had the largest Asian population in the 2010 Census 40.6 million – Projected number of U.S. residents in 2050 Higher education = better paying jobs/more professional jobs – Proportionally higher income than Hispanics/African Americans Tend to concentrate in certain geographic areas – New York, Miami, Los Angeles, Washington D.C., San Francisco 16 different classes of Asians – Chinese, Japanese, Vietnamese, Filipino, Asian Indian, Korean,

Income Disposable Income: – Money left after taxes Discretionary Income: – Money left over after taxes and expenses are paid