Saylor URL: http://www.saylor.org/books Saylor.org
don’t do. Companies such as Visa and MasterCard and businesses that offer consumers credit to purchase
items with high ticket prices have to deal with factors such as these.
The Consumer’s Subculture(s)
A subculture is a group of people within a culture who are different from the dominant culture but have
something in common with one another—common interests, vocations or jobs, religions, ethnic
backgrounds, sexual orientations, and so forth. The fastest-growing subculture in the United States
consists of people of Hispanic origin, followed by Asian Americans, and blacks. The purchasing power of
U.S. Hispanics is growing by leaps and bounds. By 2010 it is expected to reach more than $1
trillion. [1] This is a lucrative market that companies are working to attract. Home Depot has launched a
Spanish version of its Web site. Walmart is in the process of converting some of its Neighborhood Markets
into stores designed to appeal to Hispanics. The Supermarcado de Walmart stores are located in Hispanic
neighborhoods and feature elements such as cafés serving Latino pastries and coffee and full meat and
fish counters. [2]
Marketing products based the ethnicity of consumers is useful. However, it could become harder to do in
the future because the boundaries between ethnic groups are blurring. For example, many people today
view themselves as multiracial. (Golfer Tiger Woods is a notable example.) Also, keep in mind that ethnic
and racial subcultures are not the only subcultures marketing professionals look at. As we have indicated,
subcultures can develop in response to people’s interest. You have probably heard of the hip-hop
subculture, people who in engage in extreme types of sports such as helicopter skiing, or people who play
the fantasy game Dungeons and Dragons. The people in these groups have certain interests and exhibit
certain behaviors that
allow marketing professionals design specific products for them.
The Consumer’s Social Class
A social class is a group of people who have the same social, economic, or educational status in
society. [3] To some degree, consumers in the same social class exhibit similar purchasing behavior. Have
you ever been surprised to find out that someone you knew who was wealthy drove a beat-up old car or