WORKSHOPS
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Upon completion of a workshop participants will receive a Certificate of Completion.
Marketing to the Hispanic Consumer - An overview of the basic marketing principles involved in reaching Hispanics.
When: TBD
Where: TBD
Who should attend: Individuals interested in reaching Hispanics, business owners, and those desiring to broaden their customer base.
Cost: $175
Instructor: Ed Rincón, Click for Bio
The Hispanic segment is the fastest growing minority in the United States and is predicted to grow to over a quarter of the population by the year 2050. Discover how to create opportunities for your business and cater to an underserved market that is quickly becoming a major factor in creating new business! Whether you are a professional already offering your products to the Hispanic consumer, or trying to find out more about the market before launching a product or service, this workshop will get you started on the basic marketing principles involved, while helping you avoid common mistakes. Cases will be discussed, but participant is encouraged to bring own projects and ideas for discussion. |
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What you will learn:
*Identifying major market components
* Evaluating market opportunities
* Distinguishing facts from stereotypes
* Selecting the right media options
* Avoiding costly advertising and PR mistakes
*Creating Hispanic-friendly shopping environments
* Basic product and pricing issues
Agenda
Introductions
Why study Hispanic marketing?
• The Opportunities
• The Transformation of Dallas/Ft. Worth
• The Challenges- An absence of cultural intelligence;
Common myths and marketing bloopers
• Exercise: Using Census data to analyze market potential
The Value of Sound Market Intelligence
• Hispanics pose challenges to researchers
• Questionable research practices
• Research tools for decision-making - Primary and secondary sources; Recommended research
practices for studies of Hispanics
Need for a Hispanic Marketing Roadmap
• Overview of the marketing process (the 5 C’s)
• Market Segmentation - Identifying the right Hispanic target; Language vs. product-related segmention;
Defining the best positioning strategy to create value for your product or service
• Exercise: SWOT analysis exercise to summarize opportunities and threats
Marketing Mix Considerations for Your Target Segment
• What products or services will satisfy the needs of your target segment?
• Where will you place the product or service so that target segment Hispanics can easily buy it? Is
your selected channel Hispanic-friendly?
• What promotional elements (media, advertising, sales) will you use to sell or promote your
product to Hispanics in your target segment?
• What pricing strategy will you use to sell your product or service to Hispanics in your target
segment?
• Review of selected findings from the DFW Multicultural Trendline Study 2008.
Sustaining Value
• Where will you get new Hispanic customers in this target segment?
• How will you keep existing Hispanic customers?
• Is the program profitable or are you losing money or resources selling to this target segment of
Hispanics?
