Bow & Shake Hands Strategies to Asian marketing

Today’s Agenda

1. Background & Demographics2. Understanding the Culture3. Key Strategy: Education4. Branding5. Moving Forward

1.Background &

Demographics

• U.S. Population: 301,668,897

• Asian:• 13,952,184 (4.62%)

• Hispanic: • 45,327,524 (15.02%)• Add African American data

U.S. Population

Greater Bay Area 2005 Population Data

(By Race & Ethnicity By Counties)

County Santa Clara Alameda Contra Costa San Francisco San Mateo Sonoma Solano Marin Napa Monterey TotalWhite 465,777 352,864 397,194 283,329 256,457 250,138 119,910 167,484 65,484 51,842 2,410,479Asian and Pacific Islander 509,782 357,529 137,499 240,859 169,553 18,748 61,624 12,790 6,702 26,852 1,541,938Hispanic or Latino (of any race) 416,660 297,212 213,227 98,891 155,964 96,024 84,121 29,222 36,033 201,127 1,628,481Black or African American 42,307 188,655 93,820 46,779 20,188 6,208 57,482 4,540 1,655 9,691 471,325Others 187,558 163,978 124,252 29,656 63,510 50,838 54,044 14,553 13,803 87,298 789,490Two or more races 47,806 61,070 40,494 19,563 23,599 13,894 18,245 7,020 3,768 12,194 247,653

References: U.S. Census Bureau; American Factfinder

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Santa Clara Alameda Contra Costa San Francisco San Mateo Sonoma Solano Marin Napa Monterey

Greater Bay Area California - Counties

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White Asian and Pacific Islander Hispanic or Latino (of any race)

Black or African American Others Two or more races

• Between 2000-2020 more than 80% of the US population growth will be Latino, Asian Pacific Islanders or African-American.

• Asian American have the highest median home values of any group in the U.S of $57,518 according to 2004 census data.

• Asian American have the highest educational level of any group in the U.S.

• Homeownership rate is approximately 60%

Key Demographic Data

• Asian will rise from $117.6 billion in 1990 to $363 billion in 2004 to $528 billion in 2009.

• A 347% increase over 19 years.

Buying Power

2006 White Black Asian Hispanic

Households by Race 94,092,671 13,541,438 3,800,754 11,493,418

Percentage Change White Black Asian Hispanic

Households by Race 5.81% 7.90% 15.40% 16.23%

2011 White Black Asian Hispanic

Households by Race 99,558,904 14,610,957 4,386,035 13,358,858

Households by Race

2007 White Black Asian Hispanic

CA Median Income 61,171 65,287 44,178

Percentage Change White Black Asian Hispanic

CA Median Income 2.88% 11.16% 8.33% 10.48%

2012 White Black Asian Hispanic

CA Median Income62,934 47,437 70,723 48,810

42,675

California Median Income by Race

Vietnamese10%

Others11%

Korean10%

Japanese7%

Indian20%

Chinese23%

Filipino18%

• The sub group distribution changed from 2000 to 2004• Asian Indian has grown to 2nd largest in the sub markets• Chinese continues to be the largest segment

Asian American Population Composition

Asian-American Population Growth Rate

Population in 2000 Population in 2004 % GrowthAsian 10.246 12.097 18%

Chinese 2.432 2.900 19%Asian Indian 1.678 2.245 34%

Filipino 1.850 2.148 16%Korean 1.076 1.251 16%

Japanese 0.797 0.832 9%Vietnamese 1.122 1.267 13%

• Overall population registered a growth increase of 18%

Communications

• High context vs. Low context

• Dos when working with Asians

2. Understanding the Culture

Language

• Key Terms within the Culture

• Asian Groups consist of Chinese, Korean, Japanese, Vietnamese, Filipino, Indian and many more.

• Relationship Marketing = Kuan Xi Marketing

• What is High Context Communication?

High Context Communication

• Bi-lingual staff / Culturally Competent Staff• Greet warmly and respectfully• Establish a social relationship• Avoid assumptions

What are some Dos?

• Bilingual resources- brochures, websites

• Culture competency training

• Resources to consider

3. Education

• Title.com• FNTIC.com• CTIC.com• Ticortitle.com• Websites in Chinese, Korean,

Vietnamese

At Fidelity National Financial, we take pride in offering our customers and our staff

competency training!

• What and Why?• What is Culture?• Assumptions• Basic Dos• FNF can help you

Culture competency training

Websites in Chinese, Korean, and Vietnamese

• Title.com• FNTIC.com• CTIC.com• Ticortitle.comImmobel Website Editing

Over 10 languages! www.Immobel.com

Resources to Consider

• Publication References• BOOK - Kiss, Bow or Shake Hands• DVD– Joy Luck Club

• http://recenter.tamu.edu/store/

More Resources …..…

• CIPS - Certified International Property Specialist

• AREAA - AREAA Certified Professional • TRC - Transnational Referral Certification • Expand Your Market Course• At Home with Diversity• NAR- At home with diversity

Enhance your credentials

• Relationship building

• Media/Press

• Key communication mediums

• Being recognized as a partner in the community

4. Branding

• Trade Associations (Information and Networking Opportunities)• AREAA – AREAA.org• FAREPA – FAREPA.com• SAREAA – SAREAA.com• International Consortium of Real Estate

Associations – automatic for all Realtors®• Various chambers of commerce• Non-profit Housing Associations

Relationship Building

• TV Media & News Paper• World Journal San Francisco• Asian American Times, Inc.• Asian Week • KMTP TV 32• KTSF Channel

Media/Press

Your business plan• 1. Identify and understand the business

opportunity >Why.

• 2. Self-analysis-> What do I have to offer? What skills and resources do I have?

• 3. Establish target -> find your niche

• 4. Action plan

5. Moving Forward

Arigato Thank you Xie Xie Gracias Salamat• Let’s Bow and Shake Hand

• You and FNF