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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. In Black is the New Green authors 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 segment corporations can’t afford to overlook if growth is the 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
- Sales Rank: #1090089 in Books
- Published on: 2010-03-15
- Released on: 2010-03-16
- Original language: English
- Number of items: 1
- Dimensions: 10.00" h x 1.00" w x 6.00" l, .85 pounds
- Binding: Hardcover
- 224 pages
Review
“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 reading Black 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
—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
About the Author
Leonard E. Burnett, Jr. is co-CEO and Group Publisher, of Uptown Media Group and VIBE Lifestyle Network. UPTOWN Magazine is a bi-monthly publication for urbanites focusing on the lifestyle and culture of AAAs –which also comprises UptownLife.net, the interactive website, as well as Uptown’s signature and advertiser sponsored upscale events, and Uptown Social. Len is a pioneer in the urban media space, and has been transforming marketer’s perceptions of the importance of reaching the underserved urban audience for twenty years.
Andrea Hoffman is founder and CEO of Diversity Affluence, a research, marketing communications and business development consultancy that helps brand managers, marketers, agencies, entrepreneurs and business development and media executives to understand and market to affluent ethnic consumers. She is a marketing strategist, trend forecaster, and consultant with over 23 years of experience in marketing communications. She has worked with brands such as Scholastic, Sony Electronics, Mercedes-Benz, BMW NA, NASCAR Café, Hachette Filipacchi Magazines, ALMA Awards, Nashville Entertainment Association, Alliance Bernstein and Fox Television. Andrea serves on the Board of Evidence, A Dance Company.
Most helpful customer reviews
2 of 2 people found the following review helpful.
Great Read!
By Urban Professor
This book is a great read and sheds a new light on African-Americans and the progress they have made in this country considering their start. Very informative for marketers of companies looking to tap into a really untapped market the Affluent African-American of now!
1 of 1 people found the following review helpful.
Excellent
By Carolyn M. Appleton
This book is well-written, provides real-life examples, and is very inspiring. I recommend it to everyone on my blog, in fact [...] Kudos to the authors, and hearty thanks.
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