1. Consumer Market Chapter 6

2. Three Most Important Demographic Variables??? Ethnicity Income Age

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

4. 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

5. 2010 Census Data

6. 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

7. 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

8. 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,

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