Consumer Behavior – Segment: Hispanics
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1. Describe the segment. Include characteristics, lifestyles, number in cohort, purchasing power, and other statistics, etc.
A Hispanic is a person of Cuban, Mexican, Puerto Rican, South or Central American, or other Spanish culture regardless of race. There are 39 million Hispanics in the U.S. and they are growing at a rate of 3% per year. They are the largest ethnic subculture in the United States and are the fastest growing demographic due to immigration. 90% are bilingual, but prefer to speak Spanish. They are willing to work for less pay and are very family oriented.
2. What techniques should marketers use to reach the Hispanic population?
A technique that marketers should use to reach the Hispanic population is to communicate in Spanish. Whether this is the use of advertising in Spanish or hiring employees that are bi-lingual. Marketers should also use cultural events and Spanish holidays to market to Hispanics. You can also market to them by using prominent Latino personalities such as George Lopez and others.
3. Identify products which are appealing to this segment?
Products that are appealing to the Hispanic segment are things like health care and banking. Other things that are appealing to Hispanics are things that emphasize family and tie into their culture.
4. What are the controversies associated with marketing