Big Brands Target Hispanic Consumers - 1507 Words

Theme of the Article This article focuses on the increased importance for marketers to place a reasonable focus on the growing Hispanic demographic and their substantial purchasing power. With an estimated eleven percent of the US population by 2017, Hispanic consumers will comprise a large submarket. This Hispanic submarket will be able to add to the bottom line of companies that are able to target this market with the right marketing mix. Targeting the $1.2 trillion submarket is becoming a necessity for brands that are looking to grow their market share. Hispanic consumers are increasingly making their way into mainstream America and creating their own American Dreams. As they move up the socioeconomic scales they begin to buy bigger†¦show more content†¦This form of segmentation and variables are very popular for marketers because they are often associated to consumers’ wants and needs, and they are easily measured. Within the variables described above, age and race are emphasized in the article. This kind of Multicultural Marketing recognizes that different ethnic and cultural segments have sufficiently different needs and wants to require targeted marketing approaches, and that a mass market approach is not refined enough for such diversity. Multicultural marketing can result in different marketing messages, media, channels, etc. Hispanics have long been seen as a growing and profitable market by many. However, as the article mentions, only recently have many large brand names begun to view them as a valuable base of customers. The article states that dating to the 1980s, Hispanic consumers became a target for advertisers but only recently have they become a serious target for all serious marketers, especially the big name brands that are looking to boost sales in these tough times. Creating marketing aimed at a specific set of races and cultures gives a marketer an advantage over competitors who are ignoring that market. Adapting mar keting campaigns and translating ads that have proven successful for a company can be challenging for companies that do not prepare properly. For example, the California Milk Processor Board (CMPB) failed when they used their traditional â€Å"Got Milk?†Show MoreRelatedJohn Deere Brand Analysis1638 Words   |  7 Pagesexpand its consumer marketing to sell products/services to new retirees, home and acreage buyers with different ethnicities, and females, while keeping the current consumers that are traditionally Caucasian males. The paper considers the brand personality of John Deere and the different characteristics of the three new segments and identifies areas of opportunities. 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Target also has many competitors fighting for market share in this huge industry. Target demographic are all shoppers