HISPANIC
MARKET - $1.2 TRILLION BUYING POWER
BUYING
POWER IN SEVERAL INDUSTRIES:
•
Hispanic-owned businesses generated over $390 billion in sales (Source: U.S.
Census)
•
Hispanics spend $140 billion in consumer packaged goods
•
Hispanics spent $17.6 billion in mobile devices
•
Hispanics spend $30 billion in prepaid loadable cards
•
Hispanics customers make 9.8 billion restaurant visits (Source: U.S. Census)
•
Hispanics spent $8.5 billion in food and beverages
•
50+ million Hispanics in the USA
•
Hispanics are the largest minority in the U.S.
•
75% of the Hispanic population is under 45 years old
RELEVANT
SWOT QUESTIONS WHEN IMPLEMENTING MULTICULTURAL MARKETING PROGRAMS
Strengths:
• Is your brand or
reputation strong?
• What is the best brand
positioning in relation to your competition?
• What do analysts
consider to be your strengths of your product/service?
• What resources do you
have?
Weaknesses:
• What does the
competition do better than you?
• What do you do poorly?
• What generates the most
customer dissatisfaction or complaints?
• What generates the most
employee dissatisfaction and complaints?
• What processes and
activities can you improve?
Opportunities:
• Where can you apply your
strengths?
• How are your customers
and their needs changing?
• How is technology
changing your business?
• Are there new markets to
explore?
• Are there new ways of
producing your products?
• Are your competitors’
customers dissatisfied?
Threats:
• Are customers able to
meet their needs with alternative products?
• Are customers needs
changing away from your product?
• What are your
competitors developing?
• Are your rivals
improving their product offerings or prices?
• Is new technology making
your product obsolete?
• Is your cash-flow and
debt position healthy?
• Are your employees
satisfied? Is turnover high?
• Is new competition
coming?
• Are sales growing slower
than the industry average?
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