Reference no: EM133252939

Please combine the following information into three paragrphs

First paragraph:

Substantial

• Population:
  The population of Korean Americans in the United States is estimated to be around 1.7 million.
• Age:
  The median age of Korean Americans in the United States is 32 years old.
• Growth rates (birth/death, immigration, other):
  The growth rate of the Korean American population in the United States is mainly due to immigration.

Second Paragrph:

Reachable

• Media habits:
  Korean Americans have a variety of media habits. They consume traditional media such as television, radio, and newspapers, as well as new media such as the internet, social media, and mobile devices.
• Literacy/language:
  Korean Americans have a high rate of literacy and are proficient in both English and Korean.
• Geographic distribution:
  Korean Americans are concentrated in the states of California, New York, and New Jersey. However, they can be found in other states as well.

Third Paragrph:

Profitable

• Current purchase behaviors:
  Korean Americans are willing to spend money on fashion items that are of high quality and that fit their personal style.
• Industry and competition issues:
  The fashion industry is highly competitive. Companies need to differentiate themselves in order to attract and retain customers.
• Entry barriers:
  There are high entry barriers for new fashion companies due to the need for significant capital investment and the need to establish a strong brand.
• Economies of scale:
  Companies in the fashion industry can benefit from economies of scale in production and marketing.
• Product substitutes:
  There are many substitutes for fashion products, such as second-hand clothing, vintage clothing, and DIY clothing.
• Imports:
  Many fashion products are imported into the United States from other countries.
• Incremental costs:
  The incremental costs of producing fashion products are relatively low.
• Product use rates within group:
  The product use rates for fashion products among Korean Americans are high.