Marketing Management, Millenium Edition - epiheirimatikotita.gr

Yet marketers must be careful not to overgeneralize about ethnic groups. Withineach ethnic group are consumers who are as different from each other as they are fromAmericans of European background. “There is really no such thing as an Asian market,”says Greg Macabenta, whose ethnic advertising agency specializes in the Filipinomarket. Macabenta emphasizes that the five major Asian American groups have theirown very specific market characteristics, speak different languages, consume differentcuisines, practice different religions, and represent very distinct national cultures. 18Educational GroupsThe population in any society falls into five educational groups: illiterates, high schooldropouts, high school degrees, college degrees, and professional degrees. In Japan, 99percent of the population is literate, whereas in the United States 10 percent to 15percent of the population may be functionally illiterate. However, the United Stateshas one of the world’s highest percentages of college-educated citizenry, around 36percent. The high number of educated people in the United States spells a high demandfor quality books, magazines, and travel.Household PatternsThe “traditional household” consists of a husband, wife, and children (and sometimesgrandparents). Yet, in the United States today, one out of eight households are “diverse”or “nontraditional,” and include single live-alones, adult live-togethers of oneor both sexes, single-parent families, childless married couples, and empty nesters.More people are divorcing or separating, choosing not to marry, marrying later, ormarrying without the intention to have children. Each group has a distinctive set ofneeds and buying habits. For example, people in the SSWD group (single, separated,widowed, divorced) need smaller apartments; inexpensive and smaller appliances, furniture,and furnishings; and food packaged in smaller sizes. Marketers must increasinglyconsider the special needs of nontraditional households, because they are nowgrowing more rapidly than traditional households.The gay market, in particular, is a lucrative one. A 1997 Simmons Market Researchstudy of readers of the National Gay Newspaper Guild’s 12 publications found that,compared to the average American, respondents are 11.7 times more likely to be inprofessional jobs, almost twice as likely to own a vacation home, eight times morelikely to own a computer notebook, and twice as likely to own individual stocks. 19Insurance companies and financial services companies are now waking up to the needsand potential of not only the gay market but also the nontraditional household marketas a whole:■ American Express Financial Advisors,Inc. Minneapolis-based American ExpressFinancial Advisors, Inc., launched print ads that depict same-sex couplesplanning their financial futures. The ads ran in Out and The Advocate,the two highest-circulation national gay publications. The company’s directorof segment marketing, Margaret Vergeyle, said: “We’re targeting gay audienceswith targeted ads and promotions that are relevant to them and saythat we understand their specific needs. Often, gay couples are very concernedabout issues like Social Security benefits and estate planning, since same-sexmarriages often are not recognized under the law.” 20■ John Hancock Mutual Life Insurance Company The John Hancock MutualInsurance Company has been focusing on single parents and working womenwith two series of ads on cable television channels. The company is focusingon a very specific segment of women whose financial needs happen to beeven more critical because of their situation. The slogan for the ads: “Insurancefor the unexpected. Investments for the opportunities.” 21Geographical Shifts in PopulationThis is a period of great migratory movements between and within countries. Sincethe collapse of Soviet eastern Europe, nationalities are reasserting themselves and formingindependent countries. The new countries are making certain ethnic groupsScanning theMarketingEnvironment 143