USA: Beverage Firms Lead in Race to Asian American Market; Promar Study Cites First-Mover Opportunities Plentiful in Both Food and Beverage
Alcoholic beverage companies are ahead of food companies in marketing to Asian American consumers in the United States, but not by much, according to a new study by Promar International entitled "Orienting the US food and beverage market: Strategies for targeting Asian Americans to 2010.""Beverage companies understand the importance of cultivating loyal customers and are willing to invest," says Tracy Carlson, Director of the Strategic Marketing Group at Promar International. "For example, Remy Martin Cognac has grown a successful business by targeting Chinese Americans, but there are few examples of proactive ethnic marketing to this fast-growing and affluent segment-even within beverage," continued Carlson. "This is surprising, considering how attractive the Asian American market is."The ability to address emerging consumer segments is fast becoming a key success factor for branded food and beverage companies. Promar's study helps companies to understand the complexities of the Asian American market and dissects the factors that shape whom to target-as well as where, why and how. "Orienting the US food and beverage market" is designed to unleash the hidden profit opportunities in a market that will soon encompass 15 million consumers with exceptional spending power."It's not everyday that food and beverage marketers can discover a large, educated, and affluent market still uncluttered by competitors in virtually every category," says Carlson. "Smart companies will act now, rather than waiting till the 2000 US Census results are complete. By then, early movers will have pulled ahead and built a substantial lead that may be lasting." To review study details-including sample pages-please see:
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