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... ect marketers to incongruent statistics that lead to misrepresentations of the demographic profiles of the Hispanic market. In their Census 2000 Brief, Overview of Race and Hispanic Origin, the U. S. Census Bureau states, "The Federal government considers race and Hispanic origin to be two separate and distinct concepts.
For Census 2000, the questions on race and Hispanic origin were asked of every individual in the United States. The question on Hispanic origin asked respondents if they were Spanish, Hispanic or Latino. The question on race asked respondents to report the race or races they considered themselves to be. Both questions are based on self-identification... the data on race are not directly comparable with data from the 1990 census or earlier censuses.
Caution must be used when interpreting changes in the racial composition of the U. S. over time. " (pg. 1 - 2) Officially, the census did not take into account undocumented or illegal aliens who reside in the United States and contribute to the relative purchasing power of Hispanics. Statistics described in latter sections of this report will be based upon Census figures, keeping in mind the above status exception. Numbers aside, there are socio-economic and cultural implications when considering the appropriate description of the market. The use of the term "Hispanic" in this report is irrespective of the historical implications that may be derived by such use of the term where it may evoke sentiment, among some, of Spanish conquest and colonization.
Today's politically correct environment would dictate the use "Latino" but for purposes of this research, the term Hispanic will be used to describe all peoples of Spanish speaking descent and moreover is the term dominantly used by businesses to describe the market segment. "In sum, there is no consensus within the Hispanic community as to how to refer to its members collectively. The term Hispanic is neither offensive nor preferable. " (Valdes, p. 8) Why Target the Hispanic Market? "Unlike many markets, the Hispanic market is sold across racial, national, social, and cultural barriers, making it apt terrain for the powerfully "neutral" language of statistics. " (Rodriguez, p. 51) If we delve into the statistical profiles of the Hispanic market, we can obtain a fundamental understanding of why this market is gaining serious attention from marketers worldwide. "There are three major Hispanic groups - Mexicans, Puerto Ricans, and Cubans - which are geographically separated and greatly facilitate the ability of local and regional media to reach each group. " (Guernica. pg. 5) However, Hispanics come from various countries throughout Latin America and the Caribbean, with the largest percentage coming from Mexico. (Fig. 1. 1) During the period between 1950 and 1996, the total U. S. population grew from 151. 3 million to 264. 8 million. This represents an increase of more than 75 %.
During the same period, the Hispanic population grew from 4. 0 million to 27. 2 million, an increase of more than 600 %. Hispanics currently compromise 13 % (35. 3 million) of the nation's population (283. 8 million) and are projected to grow to 56 million by 2010 and reach 70 million by 2020. (Source: United States Census Bureau) In comparison the to the U. S. population, Hispanics are younger, typically in their mid-twenties, a characteristic important to companies who want to build early brand loyalty.
Their buying power is triple the rate of inflation, and their overall poverty levels are dropping. (Fig. 1. 2) Overall, the number of poor and the poverty rate for Hispanics dropped from 8. 7 million in 1996 to 8. 3 million in 1997, an approximate 5 % drop in a single year. "Not all Latinos are from agricultural families living in poverty. In fact, 92 percent live in metropolitan areas, compared with 77 percent of white non-Hispanics. And 50 percent of all Latino households have household incomes of $ 28, 300 or more... Hispanic market growth is exponential and outpaced only by growth in Hispanic purchasing power...
there were more and larger households in the market with even larger and faster growing incomes in 1999 than there were in 1990. " (Valdes, 2000) Hispanics are an increasingly affluent population. In 1993, 30 % earned between $ 25, 000 and $ 50, 000, 16 % earned over $ 50, 000. Estimates have it that in 2002, Hispanic purchasing power will be $ 428. 3 billion (approximately 6 % of total U. S. purchasing power). However, only about 1 % of U.
S. advertising dollars will be spent trying to reach Hispanic consumers. (Whitefield, C 1 +) What's more, the Hispanic market exhibits sustained brand loyalty that, once established, will give marketers access to the growing purchasing power of U. S. Hispanics, which could reach approximately $ 1 trillion. It is important for marketers to understand that unlike traditional market segment research and eventual campaigns, there are several cultural attributes of Hispanics that must be understood before any new endeavor is to be started. Cultural Attributes from a Marketing Perspective "The factor that stands out as one reads through these cases is that the U.
S. Hispanic market is DIFFERENT from the general market. " (Roslow and Therein Decker, 1997) One of the crucial barriers for marketers to overcome is the pervasiveness of the industry to adhere to socio-economic stereotypes, which have been consistent and negative, when forming the media campaigns aimed at winning over the Hispanic market. When attempting reach the Hispanic market, marketers should understand the cultural traits of the community; . Hispanics are united in their shared status as a minority group in the United States; many have experienced political, economic and religious pressures in their native lands. Acculturation. Hispanics tend to be loyal to co-ethnic brands, spokespersons, celebrities and sponsors.
Brand loyal... The Hispanic market is compromised of several individual segments bound by a common language; Spanish-whether it be the primary or secondary vehicle of communication. Language (Guernica, pg. 123 - 128). Hispanics tend to identify with what mainstream Americans consider "traditional values" driven through their intense assimilation of Roman Catholicism.
Religion (Guernica, pg. 123 - 128). Hispanics value family ties and possess a strong work ethic and entrepreneurial spirit, accompanied by a belief that success is measured monetarily. Family (Guernica, pg. 123 - 128) Acculturation The 'enlightenment' era has given marketers an understanding of the Hispanic market and the cultural traits that underlie their market presence, buying / spending patterns and sales behavior. The first hurdle to overcome is that marketers must understand that even in areas where Hispanics are in the majority of the population, they are continued to be viewed as a minority.
Herein lies a cultural juxtaposition of mainstream society's view of Hispanics and how the community views itself. Hispanics understand that the dominant society of the United States sees them as a minority, however, they perceive...
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