The Hispanic market is the fastest growing ethnic segment of the U.S. population. Its purchasing power is projected to enter the trillions by 2007. Many American businesses are hungry to capture a piece of this exciting, lucrative market. Multicultural strategist Terry J. Soto provides a thorough account of the strategic planning process companies need to employ to understand and attract Hispanic consumers. She cautions that your strategy for marketing to Hispanics must be in sync with your overall business objectives. Soto explains how to conduct demographic and market research, analyze the competition and deploy your internal resources to reach this market. She also tells you how to muster the reports, tables and statistics you need to persuade corporate higher-ups that it is all worthwhile - although the complete marketing re-tooling she suggests may be over the top for many companies. She also favors marketing jargon, but if that is the language you speak every day, you’ll sail right along. Soto doesn’t focus on the creative aspects of marketing to Hispanics, but if you want a rundown on all the technical aspects, getAbstract recommends this complete manual.
In this summary, you will learn
- How to identify opportunities in the Hispanic market;
- How to evaluate the Hispanic market’s outlook, values and purchasing patterns in terms of your product or service;
- How to assess the market, the competition and your internal resources for this market; and
- How to implement your Hispanic marketing program.
About the Author
Terry J. Soto is a multicultural strategy consultant and president of a marketing agency. She wrote the pioneering industry report Grow with America - Best Practices in Ethnic Marketing and Merchandising. Soto also is a public speaker and a consultant for Fortune 500 companies.