While the united states is becoming more diverse

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Unformatted text preview: by Mexicans, Puerto Ricans, Cubans, and others of Central and South American ancestry. While the United States is becoming more diverse, Figure 3–3 suggests that the minority racial and ethnic groups tend to be concentrated in geographic regions.10 While the growing size of these groups has been identified through new Census data, their economic impact on the marketplace is also very noticeable. By 2010, Hispanics, African Americans, and Asians will spend $1.09 trillion, $1.02 trillion, and $578 billion each year, respectively. To adapt to this new marketplace, many companies are developing multicultural marketing programs, which are combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races. Because businesses must now market their products to a consumer base with many racial and ethnic identities, in-depth marketing research that allows an accurate understanding of each culture is essential.11 Diversity index N...
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