Subculture

Each culture contains smaller subcultures or groups of people with shared value systems based on common life experiences and situations. Subcultures include nationalities, religions, racial groups and geographic regions. Many subcultures make up important market segments and marketers often design products and marketing programmes tailored to their needs," The huge US market of 260 million people has Hispanic (approaching 40 million) and black (over 30 million) subcultures that are bigger than most national markets. In all developed economies the greying population is growing rapidly. Marketers often have a poor understanding of these over-55s who will be a huge market force in the next millennium.7 Like all other subculture

A group ofpeople with shared value systems based on common life experiences and situations.

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