interTrend's Knowledge Center Unveils Results of a Recent
Study that Sheds Light Onto Asian American Trends and Insights.
LONG BEACH, CALIFORNIA (November 2, 2005) - When it comes
to forecasting cultural patterns among Asian Americans,
interTrend Communications, Inc., a full service marketing
agency targeting Asian Americans, saw the need to go beyond
basic research and mere observation.
Recently, the interTrend Knowledge Center conducted its
second annual, extensive study surveying approximately
1,100 Asians including Chinese, Vietnamese, Korean, and
Filipino sub-segments, both in-language and in English,
nation-wide across four major DMAs to examine their consumer
behavior patterns and attitudes in various industry categories.
The 2005 findings revealed insightful views into brand
loyalty, lifestyle habits, purchase drivers/motivations,
as well as media and product consumption of Asian Americans.
Brand Preference and Consumer Behavior in Industry Specific
Categories
According to the study, Asian Americans have high un-aided
brand awareness with insurance companies such as Allstate,
State Farm and Farmers. 27% of Asian Americans own life
insurance, with Filipinos having the highest rate of ownership
at 47%. There is a strong market opportunity to market
diversified financial services to Asian Americans. Other
industries explored in the study were retail, grocery,
financial services, and automotive trends.
Lifestyle Habits
Research also included
findings on lifestyle habits, values, shopping preferences,
and leisure time such as the fact
that Asian Americans attend their own community events.
In fact, 63% of Asian Americans attended community events
in 2005. This demonstrates that Asian Americans are engaged
by attending their own cultural events and proactively
strive to connect with their communities. In addition,
the study revealed important consumer behavior insights,
which showed that 96% shop at Asian stores.
Media Consumption
The Knowledge Center's study also examined
the type of media that appealed to Asian Americans. The
study showed
that 7 out of 10 Asian Americans agree that a company who
advertises in their segment cares for their community.
Overall, 78% of Asian Americans consume both ethnic (in-language)
and English media, with another 12% consuming solely ethnic
media. Koreans have the largest group consuming exclusively
ethnic specific media (in this case Korean) at 28%. Specifically,
print has the highest ranked penetration across all ethnic
segments, with the exception of Filipino (who consume television
at a higher rate). Both Filipinos and Koreans have high
consumption of TV relative to the other segments, while
radio is popular among Vietnamese and Chinese. More than
half of Asians also go to ethnic internet portals/sites
to find information.
Need for Culturally Relevant Marketing
The research conducted
by the Knowledge Center proves not only the need for marketers
to target Asian Americans,
but also understand the insights for strategically marketing
in a culturally appropriate way.
"More and more marketers are seeking this type of information
and expertise in order to determine how to strategically
connect with this growing and lucrative community," explains
Tanya Raukko, Director of Strategic Planning at interTrend
Communications. "Our goal is to generate a comprehensive
assessment of Asian Americans so that we can effectively
address their unique preferences, consumer interests, and
cultural needs to help marketers overcome this challenge."
"Asian American consumers have evolved in the past several
years much like other consumers in America. The objective
of our Knowledge Center is to track closely such change
in consumption behavior so that marketers can establish
a more current and relevant connection with the Asian American
consumers," explains Julia Huang, President and CEO of
interTrend Communications. "Only then can marketers maximize
the growth potential and ROI from this segment. This is
a smart investment that we are making for our clients."
About the Knowledge Center Study
The
results and findings of this 2005 study were represented
by a sample size of 1,104 Asian Pacific Islander Americans.
The sample collected was based upon segment population
densities across four major DMAs and respondents included
Chinese, Vietnamese, Korean and Filipino Americans 18 or
older in age. Interviews were conducted one-on-one, both
in-language and in English, by phone. Other ongoing studies
within the Knowledge Center cover Asian Indians and Asian
Youth.
In early 2004, interTrend launched a unique division,
known as the "Knowledge Center," which deploys and houses
a complex
synergy of qualitative and quantitative research data analysis,
consumer insights, and diverse consulting expertise in
various industries. The Knowledge Center is a pioneer in
monitoring, assessing, and applying specific behavioral
market trends of Asian Americans toward specific targeted
marketing strategies.
About interTrend Communications, Inc.
interTrend Communications,
Inc. is a leading full-service marketing agency targeting
the Asian American segments
such as Chinese, Japanese, Korean, Vietnamese, Asian Indian,
and Filipino. With a proven track record, interTrend has
successfully helped Fortune 1000 clients nurture and establish
brand leadership positions in this emerging market through
an integrated mix of advertising, public relations, promotions,
events and interactive strategies via various in-language
media outlets.
interTrend delivers excellence to clients, working as
marketing partners. Today, long-term partnerships have
been established
with Toyota Motor Company, JCPenney, State Farm Insurance,
Western Union, Verizon, Northwest Airlines, Southern California
Gas Company, San Diego Gas & Electric and Santa Anita
Park.
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