Demographics: Boometrics, Multicultural Marketing

The following research studies are good reminders that marketers have to consider and address the diversity within any demographic schema.

The NPD Group's Boometrics study, conducted for the National Association of Recording Merchandisers and AARP, shows that "baby boomers (born between 1941 and 1964) now account for a third of all music sales."

In addition:
More than 70 percent of the 76 million baby boomers in the U.S. report buying music in the past year, making it the most important buying segment for CDs and an increasingly important market for digital downloads.

Market to us while you can but don't assume we all like the same things or like being lumped together by age.  Ask Eons!

The Yankelovich MONITOR Multicultural Marketing Study for 2007/2008 found that African American and Hispanic respondents enjoy advertising more than other ethnic groups but find it only somewhat relevant "personally and culturally".

Emphasizing that as artists cross over into mainstream markets they may seem less authentic to African American or Hispanics, the press release gives an example using hip hop:
Hip-hop music is a good case-in-point. When African American respondents were asked about aspects of their culture and traditions they feel are the most important to preserve, "Music/Songs" was cited second most frequently, right behind "History."

As different types of African American music/songs become increasingly borrowed by the general population, they may become less effective as a means of connecting directly with African American consumers. So in this example mainstream hip-hop artists that are known to general audiences would not be considered as authentic as using more "underground" artists known exclusively by African American audiences.

The Yankelovich study also emphasized that ethnic groups are not homogenous and that "multicultural marketing needs to become more multi-dimensional", a point made in a different way regarding Hispanic diversity as revealed in BIGresearch's latest Simultaneous Media Survey.

Official Sites of Research Firms:
The NPD Group
Yankelovich
BIGresearch