Explain the trends in the racial and ethnic composition of the United States. How can marketers use this information?

A notable trend is the changing racial and ethnic composition of the U.S. population. Approximately one in three U.S. residents belongs to the following racial or ethnic groups: African American, Native American or Alaska Native, Asian American, or Native Hawaiian or Pacific Islander. While the growing size of these groups has been identified through new Census data, their economic impact on the marketplace is also very noticeable. Hispanics, African Americans, and Asian Americans spend more than $1.5 trillion, $1.3 trillion, and $1 billion each year, respectively. To adapt to this new marketplace, many companies are developing multicultural marketing programs, which are combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races and ethnic groups.Because businesses must now market their products to a consumer base with many racial and ethnic identities, in-depth marketing research that allows an accurate understanding of each culture is essential.