Which of the following statements about ethnic dimensions of the U. S. market is True?
A) Ethnic groups buy differently and have different needs.
B) Many firms make the mistake of treating all consumers in an ethnic group as homogeneous.
C) The number of ethnic consumers is growing at a faster rate than the overall society.
D) The buying power of ethnic submarkets is increasing rapidly.
E) All of these statements about ethnic dimensions are True.

Question

Quizplus · Accepted Answer

All of the statements are true. Ethnic groups have unique needs and preferences, and firms that recognize and cater to these differences can gain a competitive edge. Many firms make the mistake of assuming that all consumers within a given ethnic group are the same, when in fact there is considerable diversity within these groups. The number of ethnic consumers in the U.S. is growing rapidly, and their buying power is increasing. Therefore, it is important for marketers to understand and effectively reach these submarkets.

Which of the Following Statements About Ethnic Dimensions of the U