...Minority Marketing Research Paper [Type the document subtitle] 9/16/2012 Minority Research Paper 26 AUG 2012 MKTG 310 American consumer’s needs and wants are forever changing in a world of changing diversity and what makes for a successful business today may not be the same in the future, it’s almost a certainty. Evolving diversity marketing must be studied closely to recognize differences in cultural and social settings in large groups because lifestyles of different cultures are dictated by various values, beliefs, entertainment and interaction. All of these different aspects drive particular wants and needs that are imperative for a company to recognize for self preservation over their competition. The growth and consumer consumption of America’s Minority groups are growing at a compounded rate that has created a new exploding market to be utilized. It’s critical to understand the meticulous data gathered from consumers to create the most effective marketing plan to reach are targeted consumer. The following is an outline covering important demographics of three major minority groups in America including; African Americans, Hispanic Americans and Asian. I. AFRICAN AMERICAN A. Total numbers in the U.S. a. 2011 Black Population: 43.2 million, 14.1% of US In 2011 US Census Bureau estimates 43,884,130 African Americans 14.1% of the total population of 311.5 million in the U.S. This includes those who identify as Black only and as Black in...
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...purchasing power, and market potential for the three largest minority target markets in the country - Hispanic Americans, African Americans, and Asian Americans. AFRICAN AMERICAN Total Numbers in the US In 2013, the US Census Bureau estimated 45,003,665 African Americans in the United States (BlackDemographics.com). Percent of the Total US Population At an estimated census of 45,003,665, the African American census in regards to total percentage is 14.1% (BlackDemographics.com). Rate of Growth The African American population is expected to increase from 41.2 million in 2012 to 61.8 million in 2060. Its share of the total population would rise slightly, from 13.1 percent in 2012 to 14.7 percent in 2060 (United States Census Bureau). Average Household Size According to the 2010 census, there are 14.1 million African American households. The average household size among African Americans was 2.74, according to the 2000 census, compared with 2.63 in the 2010 census. (Franese) Average Age The average age for African Americans is 32.1 with more than 47% under the age of 35 (Nielsen). Percent with College Degrees In 2013, 83.7% of African Americans 25 and over had a high school diploma or higher, 1.7 million African Americans 25 and over had an advanced degree, and 3 million were enrolled in undergraduate college compared with 2.6 million in 2008, a 17.5% increase (InfoPlease). Average or Median Income Levels The African American median household income...
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...Homeownership Rates: How Fannie Mae and Lender-Partners Can Close the Gap Sullivan University MGT 510 Executive Summary This proposal addresses the gap in homeownership rates between whites and minorities. According to the United States Census Bureau, 67.9 percent of the population in the United States are homeowners. However, while 71.8% of Whites are homeowners, only 47.3% of African Americans and 48.2% of Hispanics are homeowners. This large gap in homeownership rates can be contributed to discrimination by lenders and minorities’ misconceptions about the lending process. To overcome these issues, lenders need to eliminate discrimination and reach out to minorities. Ultimately, lenders who discriminate are going to hurt their own bottom lines since minorities represent a large market that has the high potential for growth. Introduction: Homeownership is the “American Dream” Housing has often been referred to as the #1 creator of wealth in the United States. It has been called, (1) the leading consumer product, (2) the leading consumer investment, and (3) a leading economic driver. Homeownership, in short, is the “American Dream.” It creates wealth. If you purchase a home today, with appreciation and through upkeep, it will be more valuable in the future. That appreciation provides homeowners with opportunities to create wealth. According to the Perlo...
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...Global Diversity | | Owner | 10/21/2010 | | Deloitte Diversity Audit Organizational Background: Deloitte is a staple in the financial accounting industry for over 100 years. In this time frame they have continued to revamp themselves to still remain relevant not only for their trade of accounting but developing its primary asset, their employees. Deloitte help set the standard after the crash with audits and regulations that led to more thorough accounting practices. Recognition for women and minorities is a huge initiative that has been driving a lot of their success into the 21st century. The investment in information technology would pay dividends to back up, store, and process electronic accounting data for Deloitte. The merger of the big 4 completion in 2002 the financial accounting industry will never be the same. PricewaterhouseCooper, Ernest & Young, KPMG, and Deloitte round out the big 4 audit firms. Deloitte is currently the largest of the big four by a narrow margin. All of the big four are among the top places to work (2009) nationally and in their respective headquarter locations. Since the 2000’s Deloitte has become an industry leader and model organization. The focus on recruiting the right talent to continue pushing the bar has been successful for Deloitte. Deloitte is striving to separate themselves from the big four and set the trends for the accounting industry. Criteria/ Audit Methods: 1. Diversity mission statement 2....
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...CHAPTER 8 IDENTIFYING MARKET SEGMENTS AND TARGETS LEARNING OBJECTIVES In this chapter, we will address the following questions: 1. What are the different levels of market segmentation? 2. In what ways can a company divide a market into segments? 3. What are the requirements for effective segmentation? 4. How should business markets be segmented? 5. How should a company choose the most attractive target markets? CHAPTER SUMMARY 1. Target marketing includes three activities: market segmentation, market targeting, and market positioning. Market segments are large, identifiable groups within a market. 2. Two bases for segmenting consumer markets are consumer characteristics and consumer responses. The major segmentation variables for consumer markets are geographic, demographic, psychographic, and behavioral. Marketers use them singly or in combination. 3. Business marketers use all these variables along with operating variables, purchasing approaches, and situational factors. 4. To be useful, market segments must be measurable, substantial, accessible, differentiable, and actionable. 5. We can target markets at four main levels: mass, multiple segments, single (or niche) segment, and individuals. 6. A mass market targeting approach is adopted only by the biggest companies. Many companies target multiple segments defined in various ways such as various demographic groups who seek the same product benefit. 7. A niche is a more narrowly defined group...
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...of Subordinate-Group Status The Consequences of Subordinate-Group Status Resistance and Change WHAT WILL YOU LEARN? How Does Society Rank Different Groups? What Are the Four Types of Groups? Does Race Still Matter? How is Biracial and Multiracial Identity Defined? How Is Sociology Applied to the Study of Race and Ethnicity? What Leads to the Creation of Subordinate-Group Status? What Are the Consequences of Subordinate-Group Status? How Does Change Occur in Race Relations? ISBN 1-256-48952-2 2 Racial and Ethnic Groups, Thirteenth edition, by Richard T. Schaefer. Published by Merrill Prentice Hall. Copyright © 2012 by Pearson Education, Inc. Exploring Race and Ethnicity Minority groups are subordinated in terms of power and privilege to the majority, or dominant group. A minority is defined not by being outnumbered but by five characteristics: unequal treatment, distinguishing physical or cultural traits, involuntary membership, awareness of subordination, and ingroup marriage. Subordinate groups are classified in terms of race, ethnicity, religion, and gender. The social importance of race is derived from a process of racial formation; any biological significance is relatively unimportant to society. The theoretical perspectives of functionalism, conflict theory, and labeling offer insights into the sociology of intergroup relations. Immigration, annexation, and colonialism are processes that may create subordinate groups. Other processes such as extermination...
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...Stress Reduction and depression-Target Population Stress less! Is a program provided by the stress reduction center at West Chester University that is design for West Chester university undergraduates, to make their lives easier. These students have busy, fast paced lives. The main target market for stress less is male and female young adults ages 17 to 24. Stress less is not limited to a certain nationality, sex, racial or ethnicity, but any individual with a mental health problem. There are an increasing number of students in the age group that have reported high levels of depression due to stress. It been reported the 1 in 5 undergrads is constantly stressed. Stress less will help reduce the number high cases reported to the university. This group is in great need for a program to help them deal with the problem. Balancing classes, tests, projects, extra-curricular activities, work, and relationships and paying for college is enough to make anyone feel overwhelmed. Not only is it a problem, but it is dangerous to their general health. West Chester University is a public college located in West Chester, Pennsylvania. According to the 2011 West Chester university fact book, the university has 15,100 enrolled students both undergrads and graduates and full and part time. They all come from different states or countries. There are 85% (12,834) undergrads, 41% (5,282) of these of students are male and 59% (7,553) are females. (West Chester University Fact Book, 2011). West Chester...
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...including Wolfenstein 3D, Doom, and Quake. 3 4 5 6 **important** 7 8 9 Demographics easy to measure; easy to obtain 10 **important** Market Segmentation – Identify and profile distinct groups of buyers who differ in their needs and wants. Market Targeting – Select one or more market segments to enter. Market Positioning – For each target segment, establish and communicate the distinctive benefit(s) of the company’s market offering. 11 A market segment consists of a group of customers who share a similar set of needs and wants. Major segmentation variables are: • Geographic, • Demographic • Psychographic • Behavioral 12 E 13 Geographic segmentation divides the market by nations, states, regions, counties, cities, or neighborhoods. Nielsen Claritas developed PRIZM NE, a geoclustering approach that combines geographic data with demographic data that yields richer descriptions of consumers and neighborhoods. The groupings take into consideration 39 factors from 5 broad categories: (1) education and affluence, (2) family life cycle, (3) urbanization, (4) race and ethnicity, and (5) mobility. Inhabitants in a cluster tend to lead similar lives, drive similar cars, have similar jobs, and read similar magazines. 15 Geographic segmentation divides the market by nations, states, regions, counties, cities, or...
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...Diversity in the Workplace Sodexo Introduction: The company I have chosen to conduct my research audit on is Sodexo. This paper will discuss and examine a diversity audit on Sodexo Company. This audit will consist of the company’s background, criteria’s that companies should follow, and how Sodexo uses the creteria’s to maintain diversity. The findings will also consist of what the company truly practices through ten researched questions. The question consists of findings from articles that were provided by Empire States Library resource and other online materials. The purpose is to examine how much Sodexo is considerate of diversity within their organization. History: The organization had once been a ship supply company in Marseilles, France in 1895. In 1966, family member, Pierre Bellon was responsible for the change in the company. Bellon shifted the company to become a major food and hotel service provider to France (Sodexo, W., 2012). Bellon changed the company’s name to “Societe d’Exploitation Hoteliere.” The company was initially established to have served for restaurants, schools and hospital within certain areas of France. Throughout the 1970’s-80’s, the company focused its expansion and establishment internationally to such countries as Belgium, Africa and Middle East. Eventually between 1985-93’, Sodexo established with other countries as North America, South America, Japan, South Africa and Russia (Sodexo, W., 2012). The company eventually changed its name...
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...Samsung for their product “Galaxy Note II” will be discussed. Basically, the report is divided into 7 parts. In the first part, the profile of Samsung is been discussed. In the second part, the products of Samsung have been discussed. In the third part of the report, the unique features of Samsung Galaxy Note II have been discussed. And then, in the fourth part, target customer of Note II has been discussed. Next discussion is about the selling strategy of the product. After that, four competitor company’s profile has been given. Comparison between 4 mobile sets which has identified as the greatest competitor of Galaxy Note II has been given. The sets are, iPhone 5, Galaxy note III and also Xperia Z. 2. Company Profile (Samsung) Samsung Group (Hangul: Hanja: Korean pronunciation) is a South Korean multinational conglomerate company headquartered in Samsung Town, Seoul. It comprises numerous subsidiaries and affiliated businesses. Most of them united under the Samsung brand and is the largest South Korean Chaebol (business conglomerate). Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades the group diversified into areas including food processing, textiles, insurance, securities and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee's death in 1987, Samsung was separated into four business groups...
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...UNLV Theses/Dissertations/Professional Papers/Capstones 12-2008 Managing cultural diversity in hospitality industry Yi Gong University of Nevada, Las Vegas Follow this and additional works at: http://digitalscholarship.unlv.edu/thesesdissertations Part of the Hospitality Administration and Management Commons Repository Citation Gong, Yi, "Managing cultural diversity in hospitality industry" (2008). UNLV Theses/Dissertations/Professional Papers/Capstones. Paper 480. This Professional Paper is brought to you for free and open access by Digital Scholarship@UNLV. It has been accepted for inclusion in UNLV Theses/ Dissertations/Professional Papers/Capstones by an authorized administrator of Digital Scholarship@UNLV. For more information, please contact digitalscholarship@unlv.nevada.edu. 1 MANAGING CULTURAL DIVERSITY IN HOSPITALITY INDUSTRY by Yi Gong Bachelor of Science China Chongqing University 1998 A professional paper submitted in partial fulfillment of the requirements for the Master of Science in Hotel Administration William F. Harrah College of Hotel Administration Graduate College University of Nevada, Las Vegas December 2008 2 ABSTRACT Managing Cultural Diversity in Hospitality Industry By Yi Gong Gail Sammons, Committee Chair Professor of Hotel Management University of Nevada, Las Vegas Cultural diversity has become a major issue in the hospitality industry of the United States. This paper focuses on analyzing the change faces and...
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...STUDENT GUIDE TO CULTURAL AWARENESS INDEX LESSON TITLE PAGE 1 Philosophical Aspects of Culture SG- 3 C1 Native American Experience SG- 4 C2 White American Experience SG- 23 C3 Arab American Experience SG- 43 C4 Hispanic American Experience SG- 53 C5 Black American Experience SG- 76 C6 Asian American Experience SG-109 C7 Jewish American Experience SG-126 C8 Women in the Military SG-150 C9 Extremist Organizations/Gangs SG-167 STUDENTS ARE RESPONSIBLE FOR BEING FAMILIARIZED WITH ALL CLASS MATERIAL PRIOR TO CLASS. INFORMATION PAPER ON THE PHILOSOPHICAL ASPECTS OF CULTURAL DIFFERENCE Developed by Edwin J. Nichols, Ph.D. |Ethnic Groups/ |Axiology |Epistemology |Logic |Process | |World Views | | | | | |European |Member-Object |Cognitive |Dichotomous |Technology | |Euro-American |The highest value lies in the object |One knows through counting |Either/Or |All sets are repeatable and| | ...
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...Company is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet across North America and internationally. They are headquartered in San Francisco; however, they’re decentralized so every local Wells Fargo store is a headquarters for satisfying all their customers’ financial needs. This has led to a large customer base, which Wells estimates that one in three households in America does business with them. Wells Fargo has $1.2 trillion in assets and more than 278,000 team members across their 80+ businesses. They ranked fourth in assets, and third in market value of their stock among their U.S. peers as of March 31, 2010 ("Wellsfargo.com," 2010). Wells Fargo’s company vision is stated as, “We want to satisfy all our customers’ financial needs, help them succeed financially, be the premier provider of financial services in every one of our markets, and be known as one of America’s great companies.” This statement has led them to have an outstanding reputation in the community. They have been recognized in the following publications: FORTUNE 19th in Revenue among All Companies in All Industries (2010), World’s 39th Most Admired Company (2010), Forbes One of America’s Best Big Companies (2008), Top 100 Best Companies in the World (2010), Barron’s World’s 50 Most Respected Companies (2010), BusinessWeek Best Places to Launch a Career...
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...The Perfect Female Body: Long before beauty pageants, Barbie dolls, and extra-ordinarily beautiful girls, came about the idea of the female body. Whether you are a believer of creationalism, scientology, or evolutionism, somehow we all came about with the perception of the “perfect” female. Women have always been seen, and portrayed as a sex symbol, and usually the disobedient one. Dating back to B.C and the story of Adam and Eve, Eve was the naked one who bit into the fruit that god told her was forbidden. Why couldn’t it have been Adam that caused such scandal, and was the cause for destruction, and crime in the world, and not Eve? From the believed beginning of time, to present day, women have really only progressed a small amount up the social ladder. Today, women are looked down upon, if they are slightly more over weight then what is considered “normal,” if they are “underweight”, “darker skin color”, too “pale”, “flat chested”, big boned, “thick,” or because of their ethnicities and backgrounds. So what exactly defines the “perfect female?” Is it the girls featured on “Girls Gone Wild” in Cancun, or the half naked models posing for Victoria’s Secret? Or is it the perfectly put together “Miss America” pageant queens? Or is it the Hollywood actresses with billion dollar dresses, and priceless jewelry? Or the well toned, well defined professional team cheerleaders, and dancers we watch? WE, speaking for us “average” women, who often tend to idolize, and carry pieces...
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...and Now Vladyslav Mozharov vladyslavmozharov@cityu.edu MBA 545: People and Systems in Organizations John Elmer Case Study – Coca-Cola Company: Then and Now May 1, 2014 The traditional change model consists of three steps: unfreezing, i.e. recognizing the need for change because of some event or threat, the actual change actions and refreezing, i.e. incorporating new ways of operating and thinking into everyday operations of the organization. Apply this model to the situation at the coca-cola company at the point when the lawsuit was served in 1999. As it is stated in the case of Coca-Cola, it was a marketing machine ran by bureaucrats and tried to create an image of their brand more than to give to customers what they want. At that stage, Ivestor, who was a CEO of the company, was focusing more on the numbers and revenues than on what is really going inside of the company. He was described as insecure and arrogant and refused to listen to his own people, working for him. Instead of solving the real problems in the company, he was focusing on keeping profits on the same level. Case gives an example of passivity of his actions by increasing the price of Coke syrup sales to bottlers to keep it. Of course, it was a mandatory action due to the largest product recall in their history, but it only accumulated a racial tension in the company, as he was indifferent to people and focused on financial results. His lack of actions for solving the internal problem led to a lawsuit...
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