Black Is the New Green
Marketing to Affluent African Americans
Authors: Burnett, L., Hoffman, A.
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- About this book
The general market for luxury goods has become stagnant. Given the new economic reality of the early 21st Century - not to mention the all-important new demographics of the new century - it s bad business to continue to rely on luxury s traditional customer base to support sales, or on tired marketing strategies and tactics. InBlack is the New Greenauthors Burnett and Hoffman show readers how to follow in the footsteps laid down by brands such as Gucci, HSBC, Sony Electronics, and Aston Martin, amongst others, to become successful in a segmentcorporations can t afford to overlook if growth isthe objective. The total number of affluent ethnic households in the United States in now estimated at over 1.3 million, the buying power of affluent African Americans (referred to as AAA s in this book) is currently $87.3 billion. It would be foolish in the extreme not to tap into this rich buying segment, yet that is exactly what the marketing arms of companies do all too frequently. Sometimes this is because the executives in a particular marketing department are unaware of the potential that exists within this segment, sometimes it s because they are baffled about how to reach out to this segment and sometimes it s because they think they lack the money or resources to make a credible effort at adding a whole new segment. And sometimes, unfortunately, it s because they have reached out in the past but their efforts were unappealing to the AAA audience. Black is the New Green will show you how to attract this lucrative market and create brand loyalty and product bonding among affluent African Americans in an affordable and measurable way. Up until now, the affluent African American market has been underappreciated and overlooked. But with a sitting African American president - the time is now to tap into this market and to embrace a constituency that will have a lasting effect on your bottom line. http://www.blackisthenewgreenthebook.com
- About the authors
Andrea Hoffman is a marketing strategist, trend forecaster, consultant and founder of pioneering research and marketing communications consultancy Diversity Affluence™. Leonard Burnett serves as Co-Founder and Group Publisher of UPTOWN Magazine, and the former Group Publisher of VIBE and cofounder of the urban publishing company Vanguarde Media.
"Marketers who read this book will have a solid primer for understanding niche marketing, as well as a primer for marketing to an ethnic community . . .Any marketer looking for connection with the African American consumer will have gold readingBlack Is The New Green." - Small Business Trends
"In Black is the New Green, Andrea Hoffman and Len Burnett offer astute insight into one very powerful demographic shift that is driving the trend toward niche marketing - and they provide compelling and cost-effective strategies for reaching this emerging new affluent niche. They make the case that target marketing is no longer simply 'nice' to do, it is a 'need' to do - and, using recent, successful case studies to illuminate each step, they show you how."
- Jim Clifton, CEO, The Gallup Organization
"Understanding the dynamics of the affluent African American marketplace as well as its motivations and expectations are critical challenges for all marketers. Black is the New Green is a must-read for marketers who have a lot to gain from understanding this important segment of affluent America."
- Bob Shullman, President, Ipsos Mendelsohn
"Hoffman and Burnett put a spotlight on an enormous, yet underappreciated opportunity. If you want to increase sales of upscale goods and services, this book is a roadmap."
- Noel Hankin, Sr. VP Multicultural Relations, Moët Hennessy USA"Of all the sins marketers commit, few evoke more scorn from peers than that of 'leaving money on the table'. If there's a population willing and able to buy what you're selling, then failure to reach those people is a needless blow to your brand. Many luxury brands appear oblivious to the fact there's any such thing as an AAA audience, even though such households now deploy some $87 billion in purchasing power. With the image in their heads of a handful of wealthy black athletes and entertainers, these marketers overlook the existence of 340,000-plus AAA households - headed by professionals, corporate executives, entrepreneurs and the like - with yearly income of at least $150,000. Black Is the New Green offers counsel on how to go about reaching the AAA audience." - AdWeek"Black is the New Green provides a thorough insight into the growing, affluent African American community. It explores the vast opportunities that exist for brands which have not yet authentically communicated with this group. An enjoyable read and with numerous anecdotes throughout, it is straight-forward and to the point." - Rudy Chavez, President, Baume and Mercier, North America
Table of contents (8 chapters)
Introduction: Where the Money Is
Three Degrees of Separation: Everyone Knows Everyone
Meet the Royaltons
Insights, Trends, and 360-Degree Marketing
- Bibliographic Information
- Book Title
- Black Is the New Green
- Book Subtitle
- Marketing to Affluent African Americans
- L. Burnett
- A. Hoffman
- Palgrave Macmillan US
- Copyright Holder
- Palgrave Macmillan, a division of Nature America Inc.
- eBook ISBN
- Edition Number
- Number of Pages