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 out of 10 residents will be something other than

white– 2006 – Hispanics will outnumber the African

Americans– 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 2010.

• 65.7 million– Projected black population by July 1, 2050.

• 3.3 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 - 2010 • 52 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, 2011• 132.8 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