Presentation on theme: "PRESENT & FUTURE OF THE MARKETING IN TEXAS Tips to penetrate in a diverse market www.TexasOnTheGo.Com Tips to penetrate on a diverse market."— Presentation transcript:
PRESENT & FUTURE OF THE MARKETING IN TEXAS Tips to penetrate in a diverse market Tips to penetrate on a diverse market
THE OLD TEXAS
Wild West, Cowboys, Rangers, Petroleum
Tech Corridor, Wind Turbine, Cowboys, Sport Applications
Reflecting, rethinking, re-educating, renewing! The Marketing Paradigm Shift
Global Financial Crisis Opportunity more than a Risk Massive Migration (Hurricanes Katrina & Ike) Green Movement & Alternative Energy Influencers
Population: 24,006,609 Household: 8,469,530 Median Age: 33 Median Home Income: $46,878 Source: Nielsen
Economic Prosperity and/or stability attracting new stronger migration
Source: U.S. Census Bureau Four of the Ten Top U.S. Metro Areas with biggest population are in Texas: Dallas-Fort Worth-Arlington --162,250 Houston-Sugar Land-Baytown ,544 Austin-Round Rock --65,880 San Antonio -- 53,925
Multigenerational – Diverse Texas Demographic Changes
Because Some Things Never Change!
But, some others!!!!!!
AGE PREFERENCE TEXAS IS A YOUNG STATE MAKE SURE YOU ARE TALKING THEIR LANGUAGE THROUGH THEIR CHANNELS! BABY BOOMERS PROFESSIONAL NETWORKS SOCIAL NETWORKS TO KEEP CONNECTED TO FAMILY GEN X 20 WORDS PER SECOND GEN Y/MILLENNIALS/ ECHO BOOMERS DIGITAL REVOLUTION GEN Z What will be next?
GENDER PREFERENCES FEMALE BLOGS / SOCIAL NETWORKS MALE ?
DIVERSITY TEXAS MELTING POT
I wasn’t born in Texas, but I got here as soon as I could!
ARE YOU TALKING TO ME?
The projected buying power through 2013 of African Americans, Asians, Native Americans and Hispanics represents "formidable economic clout" University of Georgia Selig Center Report, 2008 The African-American market ($913 billion) and the Hispanic market ($951 billion) are "larger than the entire economies of all but 13 countries in the world." Buying Power
Asian American The Asian-American market represents one of the most lucrative markets in the U.S. Asian-Americans lead all categories in household income, disposable income, internet usage, business ownership, management positions and education excellence.
By 2023, more than half of U.S. children under 18 years of age will be from a diverse background, according to the U.S. Census. "With such seismic changes, multicultural marketing can no longer be about ‘niche’ strategies, but rather about ‘mainstream’ and globally intertwined trends," Loida Rosario, Director of Partner Relations DePaul’s Multicultural Marketing Program Blended Buyers
The historic election of a president from a multicultural background also influences the move of multicultural marketing into the mainstream. Political Drivers
The recent immigrant populations--unlike prior waves of immigration--are embracing and retaining many of their cultural attributes, requiring marketers to address them in a special way. Multicultural Marketing Summit, Florida Cultural Pride
MULTICULTURAL MARKETING: ‘NICHE’ STRATEGIES OR ‘MAINSTREAM’ AND GLOBALLY INTERTWINED TRENDS?
Multicultural Marketing Program at DePaul University Today, over a third of the U.S. population is of a diverse background, a seismic shift that is expected to continue. After multiple false starts, corporations are realizing that if their customers are changing, their marketing strategies also need to change. Managers, marketers, advertisers and new product developers all need to understand the implications of this change, how to best adapt their work and skills to this new reality and how to leverage these into success at home and abroad.
Multicultural Marketing Program at DePaul University The projected buying power through 2013 of African Americans, Asians, Native Americans and Hispanics represents "formidable economic clout," according to a 2008 University of Georgia Selig Center report, which noted that the African-American market ($913 billion) and the Hispanic market ($951 billion) are "larger than the entire economies of all but 13 countries in the world." And by 2023, more than half of U.S. children under 18 years of age will be from a diverse background, according to the U.S. Census.
DEMOGRAPHIC ETHNIC PREFERENCES MULTICULTURAL SOCIETY
Welcome! Are you talking to me? Bienvenido! ¿Usted está hablando conmigo? Bienvenue ! Me parlez-vous ? 歡迎 ! 您與我談話？ 환영 ! 당신은 저 말하고 있는가 ? स्वागत ! क्या आप मुझसे बात कर रहे है ? Hoşgeldin! Benimle konuşuyor musun? Καλώς ορίσατε ! Σε μένα μιλάς ;
35 Texas Diversity Uniting Family, Friends, & Business Associates
Changes in Media in Texas Re-definition of the traditional media Circulation reduction and Newspapers cutting pages, employees Digital Radio Univision was the #1 network nationwide in primetime among Adults for week of 6/29-7/05, beating ABC, CBS, NBC, FOX and CW
Conversion Into Mobile Devices TV/Cable/Networks Newspapers Digital Radio Digital TV Online Publishers FULL CIRCLE IN MARKETING
Re-definition of the Media and their role on society Traditional Media Newspaper ad revenue down 29.70% in the first quarter from the 2008 Source: Newspaper Association of America Stop the Press contemporary print journalism reading habits and comfortable routines established around that quiet time when it's just you, a newsprint rag, a cup of coffee and a comfortable chair
Changes in Marketing Budget
There are many platforms: Web sites Blog activity (read, post or publish) Social Media/Social Networking Message Board/Forum Search Engines (SEO) Microblogging (Twitter, Yammer)
Confused about “STRATEGIC PLANNING”
Interactive Marketing “The landscape of interactive marketing has evolved so much since the advent of the Internet 20 years ago… it’s becoming increasingly difficult for marketers to choose the best tools from this complex web of possibilities and really do a great job marketing online.” Nick Weynand President and Strategy Director TradeMark Media
What to do????
Strategic Planning “In order to do this efficiently/successfully you need a very solid interactive marketing strategy, one that consolidates the most useful platforms for your audience and product and sets forth a clear plan of action that will meet your end goals.”
So, maybe playing the Lottery is not a good idea at all!
At $6.5 Billion, Facebook is Now Worth More than CBS
But there is not a perfect formula!!!!
Be always flexible to adapt and go with the flow Takeaways What permanent changes in marketing tactics and strategies has this already long, painful recession caused? DEMOGRAPHY has changed. Target Market has changed. Are you talking to them? Are they talking to you? And are you ready?
eMarketers Graphics Nielsen Research AMA TexasOnTheGo.Com bibliography photos Sahnya Shulterbrandt