American American Financial Issues

In: Social Issues

Submitted By lbsapika
Words 1171
Pages 5
Blair, Lauri
Journal #3
African-American Consumers and the Economic
March 30, 2010

1) Create a detailed consumer profile of the average African-American household. Find the average income, wealth, and primary purchases of the African-American household. Compare and contrast the consumption pattern of the African-American with European, Asian, and Hispanic Americans.
African-American household
Average income- $37,150
Wealth- $6,000

White Household
Average income- $55,463
Wealth- $88,000

Comparing African American households to European, Asian and Hispanic Americans, African Americans have the lowest income. Second of all, in response to a lower income theoretically one would think that African Americans would save more and spend less and begin to invest, yet in response to poor financially education, and decisions African Americans spend more than any other race on materialistic things.
African Americans spend a large amount and above any other races median in clothing, video game hardware, pc software and shoes. African Americans have been found to be very brand loyal to body soap, sneakers, potato chips, soda, hair products, and cookies and nail polish.

African-American/Black Market profile found that African Americans are very persuaded through marketing, such as commercials, music videos, radios, and locals ads to buying cars, car accessories, communication gadgets and cosmetic products, and theses products are not being differentiated or improved, but marketers have learned techniques to persuade the African American race to purchase. 2) Given your consumer profile of the average African-American household, create a graph to illustrate the current economic status of the average African-American household. Describe your graph in detail, both theoretically and factually. Be sure to use mathematics in calculating…...

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