After the 2000 Census, companies began paying more attention to the Hispanic market. The estimated buying power at the time was $500 Billion and has steadily increased since then. However, large corporations still struggle when it comes to marketing to Hispanics because they do not understand the subjective culture of the Hispanic marketplace--beliefs, fundamental priorities, modes of communication, technology adoption and buying habits (such as who makes the purchasing decisions in the household).
In this presentation, we'll explore the diversity of the Hispanic market such as how Hispanic markets in the U.S. vary by Designated Market Area (DMA). For example, how Los Angeles is different than Miami. We'll discuss commonalities in marketing to this group as well as how to translate your brand attributes so that they have cultural significance to Hispanics.
Hispanics adopt new technologies at a faster rate than the general population making them segmented since they are heavy consumers of both online and mobile media. Therefore, the media marketing mix has to be more diverse. We'll show where the Hispanics are, what they are consuming, and how to reach sub-demographics such as "Hispanic females aged 18-24 in Dallas."
We'll also discuss the nuances of marketing to 2nd and 3rd generation Hispanics--some of whom may only speak English but who still identify strongly with the culture.
11th–15th March 2011