American Red Cross Market Analysis

Define Your Market:

The American Red Cross is created to bring assistance without discrimination to the hurt and afflicted in both an international and national capacity (Mission & Values, 2018). They aim to prevent and alleviate all human suffering wherever it is found, and further aim to protect, to heal, and to respect human life (Mission & Values, 2018). Therefore, the American Red Cross would define their market as every human life. With a value in every human being, they see every disaster, crisis, or illness as an opportunity to step in. Additional, Red Cross is a volunteer-based organization, thus requiring continual support from free labor to perform it's core duties. Therefore, not only does Red Cross's market knowledge need them

to find a customer base, but also to see those whom will serve such services.

How Large is The Market:
Since the inception of the Red Cross in 1881, the organization continually grows and develops new areas of service. In its early days, their focus was on blood collection and the support of military members. As national crisis has arisen, the Red Cross has responded. Such crisis includes the Aids epidemic of the, need for training in CPR, and most recently a partnership with FEMA to respond to natural disasters. With such growth and a commitment to meet the ever-changing needs of society, the Red Cross's market continues to change and grow. In 2017 Red Cross reported -
-they responded to 242 natural disasters,
-mobilized more than 56,000 disaster workers,
-opening 1,100 emergency shelters to provide 658,000 overnight stays,
-serving 13.6 million meals and snacks
-distributing 7 million relief items
-providing 267,000 health and mental health consultations
-and supporting 624,000 households with recovery assistance (Year in Review, 2018).
Thus proving the market of the Red Cross is vast.

How Saturated is the Market? Are there are a lot of consumers out there to reach?

There are nearly 1.6 million non-profit organizations in the US alone. Many of those agencies offering the same types of aid and care that are also provided by the American Red Cross. Therefore, the Red Cross has had to become vigilant in recruiting and develop awareness for their cause. Further, recent studies (Stark, 2016) have indicated the most significant generation populous, the millennials, are eager to participate in causes and humanitarian efforts, thus need to be invited and directed. Nearly 80 million strong, the millennials have created one of the most significant potential non-profit groups in American history (Stark, 2016). As Stark (2016) explains, millennials are the first generational group to be interested in corporate social responsibility as well as humanitarian efforts over personal their own consumer desires. Such thinking offers limitless potential for organizations such as the Red Cross in recruiting volunteers, raising funds, and developing awareness.

2017 Year in Review. (n.d.). Retrieved January 18, 2018, from http://www.redcross.org/news/press-release/local/florida/central-florida/2017-Year-in-Review

Mission & Values. (2018). Retrieved January 18, 2018, from http://www.redcross.org/about-us/who-we-are/mission-and-values

Stark, D. (2016). Reaching millennials: proven methods for engaging a younger generation. Minneapolis: Bethany House.