Hispanic marketing continues to grow explosively, with new segments and microsegments emerging as the market increasingly becomes more sophisticated and mature. What’s the next big opportunity in the U.S. Hispanic market? Business to business offerings to Hispanic small and medium-sized businesses.
On the radio yesterday I heard a Target ad for Boots. Not the kind of boots you wear, but rather the Boots that is a major retailer of drugs, health and beauty in the UK.
Target presented Boots as “the largest health and beauty brand in the UK,” now available at Target. Ironically, Boots is more like Rite Aid or Walgreen’s than Clinque or Aveeda. But Target is shrewdly using the panache of Boots’ British heritage to turn this private label into a major international brand. This is one more evolution in retailers’ continued drive to redefine private label branding. With Boots, Target shows once again how they are leading this transformation.
Felipe Korzenny, Cheskin Co-Founder and Director for the Center for Hispanic Marketing Communication at FSU, and Betty Ann Korzenny, Former Cheskin Principal and Associate Director of the same Center at FSU, just published “Hispanic Marketing: A Cultural Perspective.” Stephen Palacios, Maria Flores Letelier, and Adrien Lanusse Lopez also of Cheskin made contributions to this book. The publisher is Butterworth Heinemann/Elsevier.
This book is about strategic thinking in Hispanic marketing. The size and economic importance of the Hispanic market in the US are attracting enormous attention. The buying power of the US Hispanic market is now larger than the GDP of the entire country of Mexico, and it is the second largest Hispanic market in the world. Businesses and institutions have launched major initiatives to reach this important segment. Yet, the number of qualified individuals who understand the market is small; and many of those already catering to the market still struggle to learn about its intricacies.
This book is a cultural approach to Hispanic marketing. Each of the chapters describes and explains the cultural principles of Latino marketing. Recent case studies help marketers relate to the material pragmatically. The book integrates concepts and practical examples and provides critical guidance to discern between alternative courses of action.
This book is not about repeating well-known statistics, but about the Hispanic market as a cultural target. It takes a profound look at the values, beliefs, and emotions of US Hispanics, which impact consumer behaviour. Each of the chapters has been the subject of public presentations and lectures to marketing professionals. It is their positive reactions as well as the authors dedication to Hispanic consumers which motivated this book.
* The first comprehensive guide to integrated marketing principles for the Hispanic market, the fastest-growing demographic in the United States
* Provides insight, conceptual tools and guidance to marketers on effective positioning of products in this market
* Creates a framework for to delineate the Hispanic market from larger ethnic and cross-cultural marketing approaches
I love working in technology. One of my favorite aspects of technology is discovering and exploring unintended consequences- the interesting things that people do with technology that was not originally envisioned by designers. One example: machinema. Machinema (machine + cinema) is a nascent movement of aspiring filmakers who are using video games as tools to create original stories, using game characters as “actors” and game graphics as the tools to create scenes.
I have the first 12 or so issues of Wired magazine. It used to be my Bible back in the pre-dotcom days, but it seemed to lose its way after awhile and I stopped reading it. That is, until my recent vacation.
Added Value is strengthening its global client management team by the new appointment of Jonathan Hall and the promotion of Bart Michels.
Jonathan Hall has joined Added Value as Global Client Managing Director, with specific responsibility for Nestle across the group. He brings worldwide, multi-sector experience across product, service and corporate brands, gained from his time at Corporate Edge and, more recently, in his last role of Partner, at Circus. Added Value has a longstanding relationship with Nestle, working on developing key insights behind their key brands.
Summary of Research Findings
Commissioned by Walpole and conducted by Added Value
What is the DNA of Luxury?
According to Paul McGowan of Added Value, “Success in luxury rarely comes without a story, and ideally a myth.” This in turn provides the inspiration for the creation of a truly exquisite product. For truly successful and desirable luxury brands, iconic identity and communication (via advertising, public relations, retail environment and other less tangible messaging) is another essential element. A judicious amount of celebrity cachet, ultra selective distribution and ‘hi-touch retail therapy’ are also to be found in the complex molecular make-up.
In 1980 there were about 10 million Hispanics in the US according to the US Census Bureau. In 1990 there were about 23 million, and 35.4 million in 2000. US Census Bureau estimates for July 2003 indicated that US Hispanics were about 40 million people. The explosive growth over the past 25 years has been fueled largely by immigration. Immigration to the US accelerated as economic conditions in Latin America deteriorated dramatically over the same period of time. Mexico, the key exporter of Hispanics to the US, has been the barometer of Hispanic immigration to the US. Mexicans largely define the shape, size, and profile of the US Hispanic market.
This explosive growth does not take into consideration the conservative estimate of the Pew Hispanic Center that has published estimates that there are 11 million undocumented individuals in the US in 2005, of which about 6 million are Mexican, and another 2.5 million are from other countries in Latin America. It is intuitive to those who have followed the development of the US market that these estimates should be undercounting the actual number of undocumented US Hispanics.
Time, it seems, is of the essence for South African women. And not just the time measured by the ticking of biological clocks. According to strategic marketing and consumer insight consultancy, Added Value South Africa, women are feeling the pressure of time poverty and are looking for ways to make each second count.
One of the many reasons clients send us to China is to help them create brand names that work in a country with over a billion people spread across a vast geographic area. This is both an art and a science, as this recent article by Doris Ho implies. Formal rules and guidelines exist, but creativity also plays a crucial role in finding the right name and expressing it correctly. For example,
