Multicultural Marketing Division EMERGING SUNRISEUnderstanding the Asian Market and Customer
Asian-American Demographics • 59.9% of Asian households are owner-occupied. • Asian American have the highest median home values of any group in the U.S.
Asian-American Population Growth Rate • Overall population registered a growth increase of 18% Source: U.S. Census Bureau –2004: Issued July 2006
Asian American Population Composition •The sub group distribution changed from 2000 to 2004 • Asian Indian has grown to 2nd largest in the sub markets •Chinese continues to be the largest segment Source: U.S. Census Bureau –2000: Issued February 2002
Asian American Generalizations • Value Conscious • Courtesy and Hospitality • Humility • Social Relationships Before Business Relationships
Family & Community • Family Oriented. Great emphasis is placed on strongfamily relationships. Extended family is consideredjust as important. • It is common for parents to financially contributetowards the purchase of a home for their children. • Family’s buying decision is strongly influenced by the well-being of their children.
Non Confrontational by Nature • Although generally non-confrontational, Asians won’t hesitate to voice their opinion when necessary. • While there are exceptions, most Asian Americans are • conservative and reserved by nature. • When an issue occurs, they will not disagree openly • in an effort to save face and respect the other party.
Faith, Philosophy and Celebrations • Birth of a child, birthdays for the elderly and weddings are communal celebrations. • Strong sense of faith often influences their family, • lifestyles and belief systems. • Oral traditions, philosophy and superstitions are • influential components especially with Feng Shui.
EXERCISEDefine the meaning colors and numbers… Colors • Red – Chinese Good luck; Koreans Mourning • White – Asians – Death, funeral • Black – Asians – Bad luck, death, funeral • Purple – Asians – not worn to happy events, “wouldn’t last” • Numbers • 3 & 7 – Koreans - lucky • 4 – Chinese – Sounds like death • 5 - Chinese – Sounds like no or negate • 8 – Chinese – rich/luck • 9 – Japanese – Sound (word) for suffering
Asian Practical Tips Do • Be humble • Value social relationships • Talk about family and praise them • Be sensitive to modes of communication • Hand business card in both hand facing them • Don’t • Assume that their English is not proficient • Be overly aggressive • Assume that they don’t • understand • Embarrass or put on the spot • Point with your finger • Talk down
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