Recommandé
Recommandé
Contenu connexe
Similaire à WSSU Marketing Plan Targets African American Consumers
Similaire à WSSU Marketing Plan Targets African American Consumers (20)
Plus de M Dalton
Plus de M Dalton (12)
WSSU Marketing Plan Targets African American Consumers
- 2. Miranda R. Dalton Jonnetta Pemberton DeWayne Hall Advisor: Dr. Suresh Gopalan
- 3. Analysis of the African American Consumer: Profile and Emerging Trends Chrysler Brands and African American Consumers Marketing Plan 2011-2013
- 4. Build a stronger brand image with African Americans Increase sales Gain market share
- 6. African Americans comprise 13.5% of the U.S population • Estimated Total Population: 39-41 million • Median Age: 30.6 • Gender: • 52% female • 48% male • Martial Status: • Married 37.2% • Single 62.8% • Family Size: 2.66 people
- 7. 100 > 1.90% 75 - <100 7.70% 50 - <75 15.20% (Thousands) 35 - <50 14.80% 25 - <35 13.50% 15 - <25 15.20% 10 - <15 8.60% 5 - <10 9.20% 0-<5 6.60% 0% 2% 4% 6% 8% 10% 12% 14% 16%
- 8. 10% 18% 18% 7 million African Americans 54% 21 million African Americans
- 9. $57.8 B 77.8 B $ $41.8B $32.9 B $35.6 B $49.6B $38.5 B $57.9 B $63 B $57.4 B
- 10. In 2008: • African American consumers had a total earned income of $803 billion • If African Americans were a separate nation, this amount would count as the 17th largest economy in the world • African Americans spent $31.5 billion on cars and trucks
- 11. Affluent African Americans • Income: $75,000 and above • Considerable amount of disposable income and material possessions • 45% of total purchasing power • Educated and sizeable market segment • High potential for selling luxury brands
- 12. African Americans Represent : 2012 2008 $1.1 trillion $803 billion
- 13. Make 85% of brand Increasing purchasing income decisions Purchase Less 58% of all comparative new cars shopping and trucks
- 14. • Acknowledging • Understanding • Catering
- 15. African Americans are twice as likely to trust black media than mainstream sources. Ads are well received when they convey benefits of a product or service, and send a positive message to the black community.
- 16. AM/FM Radio 18% TV 36% Magazines & Others 20% Internet 26% 80% of weekly media time is spent with TV, Radio or Internet
- 17. Classy 36% Powerful 35% Cute 23% Energetic 21% Easy Going 19% Leader 18% Bold 16% Honest 15% 0% 5% 10% 15% 20% 25% 30% 35% 40%
- 18. Lincoln Nissan Cadillac 9.83% 9.54% 9.44% Kia Mitsubishi Chrysler 9.36% 9.29% 8.59% Mercury Dodge Chevrolet 7.83% 7.72% 7.38% Saturn 7.35% *Jeep Ranked 22nd
- 19. 1 in 4 Affluent African Americans plan to buy a car over the next 12 months Meaningful Many distinct similarities and segments differences One size doesn’t fit all Desire vehicles Trend Setters that express individuality and success Motivated by quality and selection
- 20. Stretched Black Black is Better Sick and Stressed Straddlers 11% 8% 7% Black Onliners New 7% Middle Class 5% Boomer Blacks 6% Family Struggles Digital Networkers 10% 7% Broadcast Blacks Faith Fulfills 17% Connected Black 10% Teens 12%
- 21. Black consumers trust Heterogeneous market black media Highly concentrated in Family and friends are the Southeast and in opinion leaders urban areas Younger and spend Women influence all more major purchases Very Brand Conscious!
- 23. Overall Perceptions of Chrysler Brand • Somewhat aware of the Brand • Frequent discounts/deals • Borderline prestigious • Not fuel efficient • Not exhilarating
- 24. Familiarity • Somewhat 47% Overall Opinion of Product • Good 36% Purchase African American Intent Perception • Probably Not 37%
- 25. Overall Perception of Dodge/Ram Brand • High brand awareness • Rugged/Tough • Somewhat dependable • Reasonably priced • Not fuel efficient
- 26. Familiarity • Somewhat familiar 42% Overall Opinion of Product • Fair 42% Purchase African American Intent Perception • Probably not 34%
- 27. Overall Perception of Jeep Brand • Somewhat aware of the brand • Rugged/Tough • Exhilarating • Not fuel efficient • Not prestigious
- 28. Familiarity • Somewhat familiar 41% Overall Opinion of Product • Good 58% Purchase African American Intent Perception • Definitely not 48%
- 29. Awareness 2nd 5th 6th Familiarity 2nd 5th 6th Exc. Opinion 8th 7th 7th Def. Cons. 3rd 6th 6th Intentions 3rd 6th 5th Shopping 3rd 5th 5th Retail Share 6th 7th 6th
- 30. Strengths • Dealers in key cities/states Weaknesses • Limited product appeal • Limited product portfolio • Limited ads that cater to African Americans Opportunities • Significant buying power and market size • Median age of 30.6 is younger than that of the U.S. population (36.9) • Heavy media consumption offers many advertising opportunities • Urban population allows “concentrated” targeting Threats • Declining optimism towards economic recovery • Certain segments have less income
- 31. African Americans Consumers • Prefer Chrysler over Dodge and Jeep brands • Low levels of consideration to purchase Chrysler Group’s brands in relation to competitors
- 33. Chrysler Group Communicate desired brand Create emotional attributes to involvement African American consumers Create brand Identify and awareness at eliminate brand young age bottlenecks Align brand attributes to African American market segments
- 34. Stretched Black Black is Better Sick and Stressed Straddlers 11% 8% 7% Black Onliners New 7% Middle Class 5% Boomer Blacks 6% Family Struggles Digital Networkers 10% 7% Broadcast Blacks Faith Fulfills 17% Connected Black 10% Teens 12%
- 35. Profitable Target Segments New Middle Boomer Stressed Black Black is Faith Fulfills Class Blacks Straddlers Better Increased Sales and Revenue
- 36. New Middle Class “Doing It Big!” • Smallest Segment 5% • 67% between 25-44 mostly female • 82% household income at least 50K and 1/4 over 100k • Highest educated • Heavy internet, referrals from friends, magazines, TV etc... • Not a fan of "slang" Grand Cherokee Dodge Charger Dodge Challenger Town and Country Chrysler 300 Dodge Viper • Price: $26,010 • Price:$31,385 • Price: $32,238 • Price:$35,252 • Price: $36,063 • Price: $90,630
- 37. • Promotion • WSJ, NY Times, Black Enterprise, Business Week, News Week • Commercials that show successful confident black individuals and families New • HBCUs Middle Supporting alumni events Class • Excellent customer service, will assist in promoting referrals • Placement • Dealerships • Internet shoppers
- 38. Faith Fulfills “Blessed and Highly Favored! “ • Tied for 4th largest - 10% • 83% are 35 years and up and mostly female • 71% income is 50K to 100k • Faith focal point of life • Media consumption is religious radio/TV Dodge Journey Jeep Liberty Grand Cherokee Chrysler Sebring Dodge Charger Chrysler 300 • Price: $25,295 • Price: $25,750 Price:$26,010 • Price: $28,620 • Price:$31,385 • Price:$36,063
- 39. • Promotion • Major church conferences and mega ministries • Religious networks Faith • BET, TBN, TCT Ex: Sunday’s Best Fulfills • Religious radio stations • Placement • Dealerships with a high percentage of black salesmen
- 40. Boomer Blacks “Living my life like it’s golden!” • 7th largest segment - 6% • 75% over 44 years (mean age: 52) and mostly female • 40% household income between 50K-100k • Prefer black advertising and ads that reflect black culture • 90% are online Chrysler PT Cruiser Jeep Liberty Grand Cherokee Chrysler Sebring Chrysler 300 All Ram Trucks • Price: $18,275 • Price: $25,750 • Price:$26,010 • Price: $28,620 • Price: $36,063 • Price:$38,930
- 41. • Promotion • TV commercials and ads should link product to black heritage and culture • Promotions should emphasize commercials with black employees Boomer saying “I built this car” and “This is my family car” Blacks • Link product to black service men and women Military commercial “When you were there, we were there with you ”Served the Country with Distinction” • Placement • Dealerships with a high percentage of black salesmen • Internet shoppers
- 42. Vehicles with better fuel efficiency Luxury Smaller and sedans and mid-size SUVs vehicles Classy and cute Price points Vehicles that between 12K- are powerful 15K and above 50K
- 43. Increase
- 44. Contest Interactive Websites Promotion with Black Athletes
- 45. • Population in South and Northeast 28.0 M • Population 18 years old and above 18.9 M • Population 18 years old and above that will purchase a new vehicle in the next 12 3.8 M months (1 in 5)
- 46. 2011 2012 2013 Chrysler 106,296 111,610 122,771 Dodge 182,221 191,332 210,465 Jeep 37,963 39,861 43,847 Total Potential Units 326,479 342,803 377,084
- 47. $590 $100 Advertising cost per vehicle to find a new Advertising cost per customer vehicle to market to existing customer
- 48. 2011 2012 2013 Potential Units Sold 326,479 342,803 377,084 Proposed Ad Expenditure per Unit 590 590 590 Proposed Advertising Expense $ 192,622,841 $202,253,983 $222,479,382
- 49. $ 192.6 Million – Total Budget AM/FM Radio $34.7 Million 18% $69.3 Million TV 36% $38.5 Million Magazines & Others 20% Internet 26% $50.1 Million
- 50. $202.3 Million- Total Budget $ 36.4 Million $ 72.8 Million AM/FM Radio TV 18% $40.4Million 36% Magazines & Others 20% Internet 26% $ 52.7 Million
- 51. $222.5 Million-Total Budget $ 40.1 Million AM/FM Radio $ 80.1 Million TV 18% 36% Magazines & Others 20% $44.5 Million Internet 26% $ 57.8 Million
- 52. 2011 2012 2013 In Millions Current Est. Expense $462.0 $456.0 $468.0 Proposed Expense for African Americans 192.6 $202.3 $222.5 Additional Marketing Expense 195.4 266.7 309.5 Total $850.0 $925.0 $1,000.0
- 53. 8% 29% 9%
- 54. • Current Revenue • Proposed Revenue Stream Stream 2011 2012 2013 2011 2012 2013 • $52,026 • $56,708 • $61,245 • $56,723 • $62,385 • $67,685 Percent Increase 9% 10% 11% In Millions
- 55. • Current Profit Streams • Proposed Profit Streams 2011 2012 2013 2011 2012 2013 • $1,579 • $2,106 • $2,358 • $1,973 • $3,018 • $3,756 Percent Increase 25% 43% 59% In Millions
- 56. Awareness 1st (+1) 3rd (+2) 3rd (+3) Familiarity 1st (+1) 3rd (+2) 4th (+2) Exc. Opinion 4th (+4) 4th (+3) 4th (+4) Def. Cons 3rd (0) 4th (+2) 4th (+2) Intentions 2nd (+1) 4th (+2) 3rd (+2) Shopping 2nd (+1) 3rd (+2) 4th (+1) Retail Share 3nd (+3) 4th (+3) 5th (+1)
Notes de l'éditeur
- from New direct sells and profitabilityFrom used brand awareness