You are a marketer. You come across information about a consumer segment for your product in the US which you heretofore have not focused on. This segment currently numbers just under 11 million individuals and is growing faster than any other group in the United States. These individuals boast the highest average household incomes in the US and they also have the highest level of education as compared to all other consumers. They may be as likely or, in many cases, more likely than other consumers to buy your product and, interestingly, these consumers exhibit a strong preference to consume a very specific subset of media in which not a single one of your competitors is advertising with any scope or consistency. What should you do?

The consumer segment in question are Asian-American consumers, a market that in 1999 commanded an annual purchasing power of $229 billion. However, the potential of this lucrative market, which has already been widely recognized by the telecommunications, financial services, and retail industries, has yet to be tapped by a diverse range of categories including automotive, healthcare, beverage, and packaged goods to name just a few. With a current population of 10.8 million, Asian-Americans boast the fastest growth rate of any group in the country. According to the US Census, the Asian-American population will more than double in size to 23 million by the year 2020. By 2050, Asian-Americans are projected to account for a full 10% of the total US population.

The unique character and often uncharted opportunities in the Asian-American market frequently give pause to experienced and savvy general market decision makers who are not familiar with these population segments. However, for those ready to roll-up their sleeves and understand the dynamics in these emerging and important segments, Asian-Americans represent a highly targetable and cost-efficient consumer opportunity to achieve bottom-line growth.

For more information, contact Saul Gitlin, 212-889-4509, ext. 114, saul_gitlin@kanglee.com.