The numbers are staggering. And U.S. executives are taking notice: In 2005, there were 40 million Hispanics in the U.S. with a buying power of $700 billion, reports the Selig Center for Economic Growth. But American marketers have had only spotty success reaching this market because of a failure to understand the cultural underpinnings that drive so much Hispanic consumer behavior, write the authors of Hispanic Marketing.
Felipe and Betty Ann Korzenny, who teach at Florida State University, bring not only a cultural-sociological understanding of the Hispanic market, but also advise readers how to apply that knowledge to create effective marketing tactics and strategies.
Too often American businesses have let stereotypes drive marketing messages. They typically believe, for example, that family is the key cultural element that needs to be recognized in communications to Hispanics. According to the authors, this attitude has produced a cookie-cutter approach to marketing that lacks the power to differentiate.
Understanding this group begins with recognizing that Hispanics aren't a race, they are many races sharing a common heritage and culture. The book dives quickly into the characteristics of the Hispanic market, looking at such elements as the role of language in Hispanic marketing, immigration and assimilation issues, the U.S. Hispanic media environment, and what makes Hispanics “Hispanic.”
Each chapter closes with targeted implications for marketers, such as the need to understand the forces of U.S. culture on Hispanic identity. “For example, Hispanics may identify with American heads of household when thinking through the importance of life insurance products, since these products are not common in their countries of origin. Although they may need the comfort level of speaking with a Hispanic agent about insurance, they may indeed emulate the aspirational level of Americans who protect their families in this way.”
Hispanic Marketing offers a very strong balance between academic theory, street observation, and marketing smarts, and belongs on the bookshelf of anyone hoping to tap into this market.
- Sean Silverthorne