Which of the following statements about ethnic dimensions of the U. S. market is True?
A) Ethnic groups buy differently and have different needs.
B) Many firms make the mistake of treating all consumers in an ethnic group as homogeneous.
C) The number of ethnic consumers is growing at a faster rate than the overall society.
D) The buying power of ethnic submarkets is increasing rapidly.
E) All of the above are true.

Question

Quizplus · Accepted Answer

All of the statements are true. Ethnic groups represent a diverse market with distinct cultural preferences, buying habits, and needs. Many firms make the mistake of treating all consumers in an ethnic group as homogeneous, failing to recognize the differences within the group. The number of ethnic consumers is growing at a faster rate than the overall society, creating a larger target market for firms that cater to these groups. Additionally, the buying power of ethnic submarkets is increasing rapidly, making them a valuable and lucrative market for firms that can effectively target and serve them.

Which of the Following Statements About Ethnic Dimensions of the U