Hispanics Amanda Hubbard, Heather Clore, Beth Schwartz, Beckie Imboden - PowerPoint PPT Presentation

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Hispanics Amanda Hubbard, Heather Clore, Beth Schwartz, Beckie Imboden

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  1. HispanicsAmanda Hubbard,Heather Clore, Beth Schwartz, Beckie Imboden

  2. Interesting Facts • Hispanics have been around for a long time! In 1609, 11 years before the Pilgrims landed at Plymouth Rock, the Mestizo (Spanish and Indian ancestors) settled in what is now Santa Fe, New Mexico. • US Hispanics will spend over $21.3 billion on local, long distance, wireless and Internet services this year, representing over 40 percent of the lucrative ethnic telecommunications consumer market. • Eight (8) million Hispanics now live in the U.S., with 90% of them opting to live in one of four states: California, Texas, Illinois or Arizona. • 69 percent of all Hispanic immigrants send money to their family in Latin America • The younger immigrants (18 to 34 years of age) and those from the lowest socio-economic group (annual income below $20,000) are much more likely to send cash remittances than older immigrants or those that have achieved middle class status. • Food plays an important role in the Hispanic culture, and is eaten for more reasons than just nutrition. Children are not forced to eat foods that they resist because their preferences are respected.

  3. Hispanic – American Education It is a proven fact that Hispanic Americans have long lagged behind the National education averages of many existing ethnicities, but to say that they are not intelligent is not at all fair! They only lack a formal education. In each category, Hispanics have less educated people

  4. FACTS: Children under 5 are less likely to be enrolled in early education than Caucasians or African Americans Today 1/3 of Hispanics are under the age of 18, and by 2025 they will represent 25% of the K-12 population The high school drop out rate is higher in Hispanics (according to US Dept of Edu.), and in 1998 30% aged 16-25 were drop outs. INSIGHTS: The overall lack of formal education in Hispanics is in part due to their cultural norms and values – a tightly knit family and working to help pay the family’s bills is more important now than slowly getting an education. This does not mean that Hispanics are less intelligent – It just means they lack the formal education that Americans have. Education – Facts and Insights • Hispanics have lagged in schools for many reasons, some of which include: • A strong work ethic that forces them into jobs prior to graduating high school • Families often remain living in Spanish only speaking neighborhoods • Their high school graduation rate has climbed to 57% since 1980, but this is still short of the 88% for Caucasians and 80% for African Americans Implications: This lack of formal education makes it difficult for Hispanics to achieve much significant career advancement.

  5. Core Values Familismo Family is at the center of their daily life Personalismo Importance of close interpersonal relationships and friendships Respeto Treating others with respect Machismo Belief that a man is the head of the family Marianismo Emphasis on the worship to the Virgin Mary Hard Working Strive to create a better life for their family.

  6. General Life Goals close-knit family Religion Group vs. Individual goals As A Consumer Influenced by sale items and will by new brands if they are on sale Very price sensitive Hispanic elements very important Motivators/Goals

  7. Lifestyle • Approximately 20% of Hispanic families live in poverty • Only 46% have graduated from high school; 11% have a Bachelor's Degree or higher • Extremely close knit families • Although in the US, Hispanics are very set on keeping their culture and language

  8. Shared Early Life Experiences • A lot of struggle for Hispanics in the US • 1954 – Hernandez vs. Texas • 1959 – Fidel Castro takes power in Cuba • 1962 – César Chávez creates United Farmerworkers of America • 1974 – Congress passes EEOA • 1994 – NAFTA eliminates tariffs on most imports and some exports with Mexico • 2000 - Elián González was returned to his father after his mother died trying to escape from Cuba

  9. Products and Services • Hispanics often do not make online purchases due to lack of trust • Hispanic community’s purchasing power represents the 9th largest economy in the world • High-end electronics: camcorders, computers, DVD player, videogame systems, satellite dish, cell phones • Spanish-language radio and television

  10. Spending Buying power at $581 billion High-end electronics Cell phones Children's clothing Saving 43% of Hispanic adults said that their top financial priority was saving for retirement many Hispanics still believe that the safest place to save their money is at home Hispanics are newcomers to investing Spending And Saving Habits

  11. Online Growing market – 1/3 plan to buy computer in next year Face to face contact with products Credit cards Print Spanish language = emotion All Spanish Incorporating Spanish words California Wellness Foundation Radio 12 million listeners 50% between 18-40 40% 2 or more children Television Spanish channels – easy to reach Hispanic adults English channels – reach more Hispanic youth WWF Smackdown CBS Latino Grammy Awards FOX Nickelodeon Advertising and Media

  12. California Milk Producers Board “Are you Lactating?” Running out of milk not funny “Y usted, ¿Les dio suficiente leche hoy?” & “Familia Amor Leche” Univision/Galavision Hispanic adults/Hispanic youth Pacific Health Care Systems Hired a Hispanic to market to Hispanics Latino Health Solutions Procter & Gamble $90 million (10% of budget) Gain - “The scent of clean” Early 2000 – multicultural marketing 2003 Grammy’s - Crest Ad Kroger Supermercado Buena comida – 105 items Gerber Sears Western Union Companies who Market well to Hispanics

  13. What to do as Marketers • Recognize the Hispanic buying power • Market in Spanish or bilingual • From manufacturer to selling • Hire Hispanics for marketing • Not all Hispanics are the same • East coast vs. West coast • Further segmentation will be needed

  14. Summary: • Due to their strong work ethic and their desire to live in closely knit Spanish-speaking neighborhoods, Hispanics have less formal education than Americans. This does not mean they are less intelligent, it just hinders their ability to progress to higher levels of employment • Hispanics are very in touch with who they are and where they come from; because of this, they appreciate their heritage and tend to value the traditional ideas of family and religion. • Hispanics are changing the way America does business. • Hispanics' buying power is at $581 billion and they tend to feel safer by not keeping their money in bank accounts. • As marketers, it is important not to underestimate the Hispanics buying power. It is then vital to find ways to market specifically to them – Recognize that they are not all the same, hire Hispanics to market to Hispanics, and market products that we know they desire.

  15. Questions?