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Digg it UP - Marketing to Hispanics/Latinos
Breakeven is a financial term to describe a business or project where the sales revenue is equal to total expenses. It is simple to calculate if the expenses incurred are fixed, i.e. it does not change as the revenue changes. But in most projects/businesses, this is not the case. The expenses usually make up of a fixed component and variable component.The existence of variable expenses complicates the calculation of breakeven point. This is because the variable cost will increase as the number of units sold increases. The answer can be calculated by working out the total gross profit of the unit sold to be equal to the total fixed expenses.If the unit cost of the variable expenses changes not by equal amount with every unit sold (could be due to step cost, i.e. the cost increases only when it reaches certain quantity, e.g. quantity discount given), then the breakeven calculation would become much more complicated.In t
Like any group, Hispanics in a community typically become reconfigured into distinct market segments—small-business owners, professionals, agribusiness, and so on—with all the usual qualifying characteristics: Common identity and accessibility; Common characteristics; Identifiable wants, needs and objectives; active communications networks.
Where is Home?
“The Southwest and Northeast still have the heaviest concentrations of Hispanic communities, but Latinos are changing the look, sound and feel of more and more cities across the nation that have not traditionally been home to Hispanics,” reports Gigi Anders in Hispanic Magazine, adding that Hispanic communities are developing at a record-breaking pace in other nontraditional states such as Arkansas, Oregon, Nevada, and South Carolina.
And Georgia!
Yolanda R
It really pains me when leaders talk about employees who don't perform to minimum standards. It seems that rather than take on the problem, leaders often find it easier not to confront the issue. A big part of leading people is helping them understand when they are doing well and not doing so well. It is especially important to recognize someone at once when they are doing a good job. When they need to improve, your job is to coach them to better performance.Some keys of coaching are: 1. Information: Know what is going on with your staff 2. Listen with empathy 3. Be aware of the work environment. This comes from talking to people 4. Instruct staff so they know exactly what is expected 5. Giving feedbackGood coaches are good role models. They demonstrate good work habits. They also get to know people well enough to be able to develop them appropriately.Coaching is situational. You take different approaches depending on the employee and their o
Is it “Hispanics” or “Latinos”?
Hispanics and Latinos have hotly debated that question for years, and apparently, picking one answer over the other means drawing political, social, and generational lines in the sand.
I’ll explain later, but for now let’s get some numbers on the table.
Hispanic Database – The Numbers Tell the Story
It made headlines! Hispanics are now the largest minority group in the U.S., outnumbering blacks by nearly 1 million (37 million v. 36.2 million).
That may have been news, but demographers and advocacy groups saw it coming; those population estimates merely confirmed it. With extensive immigration from economic basket case, Latin America--and a robust birthrate among predominantly Catholic Hispanics--this gap is expected to grow. By 2020, the Hispanic population could easily double to 70 million, or 21% of the U.S. population; by 2050 expect people of Hispanic origin to number more than 100 million. Hispanics are 11.4% of today’s work force, a figure that could easily double in a ten years.
• Over 7.6 million Hispanic households in the U.S. average 3.6 people per household.
• U.S. Hispanic households have 2 or more people employed full time; 58% of Hispanics over 18 are employed full time.
• About 1 million Hispanic households in the United States have incomes of $50,000 or more.
• The average Hispanic household spends $31,013 annually. • Hispanics are a young population. The median age of U.S. Hispanics is 26.5 compared to a median age of 32.2 for non-Hispanics.
• 12.8 million Hispanics were foreign-born; of this number, 1 in 4 were naturalized citizens.
• Among foreign-born Hispanics, 43% entered the U.S. in the 1990s, while 27% entered before 1980.
• Although 74% of those who entered the country before 1970 had obtained citizenship by 2000, only 7% of those who entered between 1990 and 2000 had become citizens. (Becoming a naturalized citizen requires five years of residence in the U.S.)
Sources: U.S. Census Bureau 2000 Census of Population and The Hispanic Population in the United States, March 2000, Roberto Ramirez and Melissa Therrien.
Flexing Economic and Political Muscle
Today, the 7.6 million-plus Hispanic households in the U.S. boast higher educational levels, greater access to credit and capital, and more finely tuned technological skills than ever. Consequently, with buying power exceeding $350 billion, the current generation of Hispanics is an economic powerhouse.
That Adds up to Prime Marketing Potential
More than half of all Hispanics in the U.S. are between ages 18-49, which means most of them are getting married, buying homes, starting families, launching careers, and in many cases, opening their own businesses.
A strong entrepreneurial streak runs through this market, with Hispanic-owned businesses in the U.S. totaling 1.2 million firms employing over 1.3 million people and generating $186.3 billion in revenues in 1997, according to a report released this year by the Commerce Department's Census Bureau. Indeed, Hispanic-owned companies made up 6% of the 20.8 million non-farm businesses in the nation and 1% of the $18.6 trillion in receipts for all businesses.
Market Positioning Pays (As Always)
The longer Hispanics live in an area and the more prosperous they are the more invisible they become, and many school districts are having marked success with “immersion” English-language training among Hispanic grade school students. Yet assimilation may never be complete. In most Hispanic communities in the U.S., strong cultural identity persists, and that can affect how you market to them. So though the times are indeed a-changing (to borrow a phrase), you’ll still find that a fundamental understanding of Hispanic culture and working knowledge of Spanish are assets in this market—make that markets, since Hispanic communities are no more homogeneous than others.
Like any group, Hispanics in a community typically become reconfigured into distinct market segments—small-business owners, professionals, agribusiness, and so on—with all the usual qualifying characteristics: Common identity and accessibility; Common characteristics; Identifiable wants, needs and objectives; active communications networks.
Where is Home?
“The Southwest and Northeast still have the heaviest concentrations of Hispanic communities, but Latinos are changing the look, sound and feel of more and more cities across the nation that have not traditionally been home to Hispanics,” reports Gigi Anders in Hispanic Magazine, adding that Hispanic communities are developing at a record-breaking pace in other nontraditional states such as Arkansas, Oregon, Nevada, and South Carolina.
And Georgia!
Yolanda Ro
There are so many job and business opportunities online, that it seems to be a real goldmine, but what you don't now, is that a lot of people fall for scams and then get frustrated for not seeing the results that they want. You have to look for legitimate work at home jobs that will pay you month after month.I will tell you where you should start, but first lets look at some points you have to be aware before choosing that great online job. Never choose a job opportunity that seems to good to be true, always ask for contact information and if you want to be completely sure that the job is real, make a phone call to the company or employer.There are many places where you will come across legitimate work at home jobs ads, in newspapers, directories, online news, google ads, magazines, pop ups, emails, etc. of all of those sources there is not a best one, you have to see the what the job offers and immediately look for the contact information and the c
• Over 7.6 million Hispanic households in the U.S. average 3.6 people per household.
• U.S. Hispanic households have 2 or more people employed full time; 58% of Hispanics over 18 are employed full time.
• About 1 million Hispanic households in the United States have incomes of $50,000 or more.
• The average Hispanic household spends $31,013 annually. • Hispanics are a young population. The median age of U.S. Hispanics is 26.5 compared to a median age of 32.2 for non-Hispanics.
• 12.8 million Hispanics were foreign-born; of this number, 1 in 4 were naturalized citizens.
• Among foreign-born Hispanics, 43% entered the U.S. in the 1990s, while 27% entered before 1980.
• Although 74% of those who entered the country before 1970 had obtained citizenship by 2000, only 7% of those who entered between 1990 and 2000 had become citizens. (Becoming a naturalized citizen requires five years of residence in the U.S.)
Sources: U.S. Census Bureau 2000 Census of Population and The Hispanic Population in the United States, March 2000, Roberto Ramirez and Melissa Therrien.
Flexing Economic and Political Muscle
Today, the 7.6 million-plus Hispanic households in the U.S. boast higher educational levels, greater access to credit and capital, and more finely tuned technological skills than ever. Consequently, with buying power exceeding $350 billion, the current generation of Hispanics is an economic powerhouse.
That Adds up to Prime Marketing Potential
More than half of all Hispanics in the U.S. are between ages 18-49, which means most of them are getting married, buying homes, starting families, launching careers, and in many cases, opening their own businesses.
A strong entrepreneurial streak runs through this market, with Hispanic-owned businesses in the U.S. totaling 1.2 million firms employing over 1.3 million people and generating $186.3 billion in revenues in 1997, according to a report released this year by the Commerce Department's Census Bureau. Indeed, Hispanic-owned companies made up 6% of the 20.8 million non-farm businesses in the nation and 1% of the $18.6 trillion in receipts for all businesses.
Market Positioning Pays (As Always)
The longer Hispanics live in an area and the more prosperous they are the more invisible they become, and many school districts are having marked success with “immersion” English-language training among Hispanic grade school students. Yet assimilation may never be complete. In most Hispanic communities in the U.S., strong cultural identity persists, and that can affect how you market to them. So though the times are indeed a-changing (to borrow a phrase), you’ll still find that a fundamental understanding of Hispanic culture and working knowledge of Spanish are assets in this market—make that markets, since Hispanic communities are no more homogeneous than others.
Like any group, Hispanics in a community typically become reconfigured into distinct market segments—small-business owners, professionals, agribusiness, and so on—with all the usual qualifying characteristics: Common identity and accessibility; Common characteristics; Identifiable wants, needs and objectives; active communications networks.
Where is Home?
“The Southwest and Northeast still have the heaviest concentrations of Hispanic communities, but Latinos are changing the look, sound and feel of more and more cities across the nation that have not traditionally been home to Hispanics,” reports Gigi Anders in Hispanic Magazine, adding that Hispanic communities are developing at a record-breaking pace in other nontraditional states such as Arkansas, Oregon, Nevada, and South Carolina.
And Georgia!
Yolanda R
People work to live, but most also live to work. A study on the meaning of work conducted back in 1987 revealed a strong attachment to work as a way of life. The study found that 86 percent of people would continue working even if they had enough money never to work another day. There could be no better indication that work is not simply a matter of putting food on the table, but is core to the being of most adults.Adults in mid-life in particular often find this sense of work as a central component of their lives under direct assault from a business culture that undervalues personal fulfillment as an essential driver of productivity.I believe the next wave of workforce management for enlightened corporations will be to focus on “softer” indicators of productivity. Fulfillment, meaning, satisfaction, and that intangible sense that the job is about more than a paycheck are what will make all workers, in particular those in mid-life, more productive.<
• Although 74% of those who entered the country before 1970 had obtained citizenship by 2000, only 7% of those who entered between 1990 and 2000 had become citizens. (Becoming a naturalized citizen requires five years of residence in the U.S.)
Sources: U.S. Census Bureau 2000 Census of Population and The Hispanic Population in the United States, March 2000, Roberto Ramirez and Melissa Therrien.
Flexing Economic and Political Muscle
Today, the 7.6 million-plus Hispanic households in the U.S. boast higher educational levels, greater access to credit and capital, and more finely tuned technological skills than ever. Consequently, with buying power exceeding $350 billion, the current generation of Hispanics is an economic powerhouse.
That Adds up to Prime Marketing Potential
More than half of all Hispanics in the U.S. are between ages 18-49, which means most of them are getting married, buying homes, starting families, launching careers, and in many cases, opening their own businesses.
A strong entrepreneurial streak runs through this market, with Hispanic-owned businesses in the U.S. totaling 1.2 million firms employing over 1.3 million people and generating $186.3 billion in revenues in 1997, according to a report released this year by the Commerce Department's Census Bureau. Indeed, Hispanic-owned companies made up 6% of the 20.8 million non-farm businesses in the nation and 1% of the $18.6 trillion in receipts for all businesses.
Market Positioning Pays (As Always)
The longer Hispanics live in an area and the more prosperous they are the more invisible they become, and many school districts are having marked success with “immersion” English-language training among Hispanic grade school students. Yet assimilation may never be complete. In most Hispanic communities in the U.S., strong cultural identity persists, and that can affect how you market to them. So though the times are indeed a-changing (to borrow a phrase), you’ll still find that a fundamental understanding of Hispanic culture and working knowledge of Spanish are assets in this market—make that markets, since Hispanic communities are no more homogeneous than others.
Like any group, Hispanics in a community typically become reconfigured into distinct market segments—small-business owners, professionals, agribusiness, and so on—with all the usual qualifying characteristics: Common identity and accessibility; Common characteristics; Identifiable wants, needs and objectives; active communications networks.
Where is Home?
“The Southwest and Northeast still have the heaviest concentrations of Hispanic communities, but Latinos are changing the look, sound and feel of more and more cities across the nation that have not traditionally been home to Hispanics,” reports Gigi Anders in Hispanic Magazine, adding that Hispanic communities are developing at a record-breaking pace in other nontraditional states such as Arkansas, Oregon, Nevada, and South Carolina.
And Georgia!
Yolanda R
Ever heard the expression "Perception is reality"? I am not sure how accurate that is about most things, but it is true when it comes to service. I was reminded of this truth while making hotel reservations for a recent trip to Washington DC. My decision was based solely on my perception of the quality of service I would receive, and that decision was based on their brand name.The difference between the brand name hotels (or automotive companies for that matter) is that they have effectively leveraged people’s perception of their brands. Not only do they capitalize on it, but spend millions of dollars to promote it. The result is that when you think about luxury driving, you don’t think about Hyundai, you usually think about Lexus. Not so fair to Hyundai, who continues to build affordable, reliable cars every year.By definition, perception is how we define our experiences. It is how we recognize and interpret stimuli. That applies to your customers,
A strong entrepreneurial streak runs through this market, with Hispanic-owned businesses in the U.S. totaling 1.2 million firms employing over 1.3 million people and generating $186.3 billion in revenues in 1997, according to a report released this year by the Commerce Department's Census Bureau. Indeed, Hispanic-owned companies made up 6% of the 20.8 million non-farm businesses in the nation and 1% of the $18.6 trillion in receipts for all businesses.
Market Positioning Pays (As Always)
The longer Hispanics live in an area and the more prosperous they are the more invisible they become, and many school districts are having marked success with “immersion” English-language training among Hispanic grade school students. Yet assimilation may never be complete. In most Hispanic communities in the U.S., strong cultural identity persists, and that can affect how you market to them. So though the times are indeed a-changing (to borrow a phrase), you’ll still find that a fundamental understanding of Hispanic culture and working knowledge of Spanish are assets in this market—make that markets, since Hispanic communities are no more homogeneous than others.
Like any group, Hispanics in a community typically become reconfigured into distinct market segments—small-business owners, professionals, agribusiness, and so on—with all the usual qualifying characteristics: Common identity and accessibility; Common characteristics; Identifiable wants, needs and objectives; active communications networks.
Where is Home?
“The Southwest and Northeast still have the heaviest concentrations of Hispanic communities, but Latinos are changing the look, sound and feel of more and more cities across the nation that have not traditionally been home to Hispanics,” reports Gigi Anders in Hispanic Magazine, adding that Hispanic communities are developing at a record-breaking pace in other nontraditional states such as Arkansas, Oregon, Nevada, and South Carolina.
And Georgia!
Yolanda R
About four years ago I had a great idea for an article that I couldn't quite put into words. Recently, I ran across a video created by Michael Chaney which outlined a similar concept that I wanted to communicate to my customers. This video really helped me finish my own article was very similar to his analogy.In his video he outlines an important concept which business owners must understand when connecting with their customers and getting them to pull out their wallets or open their check books. Here is his same concept in my own words.When you are approaching your customers, there is a large gap between you and them. You are on an Island, they are on land and the gap between you represents an ocean of mistrust. All your customers see are you trying to get them to come across this ocean to your "island."To the customer, this ocean can be a scary place. They will face many dangers and perils when trying to cross to get to your islan
Like any group, Hispanics in a community typically become reconfigured into distinct market segments—small-business owners, professionals, agribusiness, and so on—with all the usual qualifying characteristics: Common identity and accessibility; Common characteristics; Identifiable wants, needs and objectives; active communications networks.
Where is Home?
“The Southwest and Northeast still have the heaviest concentrations of Hispanic communities, but Latinos are changing the look, sound and feel of more and more cities across the nation that have not traditionally been home to Hispanics,” reports Gigi Anders in Hispanic Magazine, adding that Hispanic communities are developing at a record-breaking pace in other nontraditional states such as Arkansas, Oregon, Nevada, and South Carolina.
And Georgia!
Yolanda Rodr?guez, writing in Hispanics Online: “In 1996, the Georgia Hispanic Chamber of Commerce had 180 members and now has 931, ranging from multimillion dollar companies to small mom-and-pop operations.”
Business owners and professionals who understand that will enjoy a competitive edge in this marketplace and find it easier to build productive relationships with receptive Hispanic prospects and clients.
So, Which is it: Hispanic or Latino?
We’re back to that question…
Those who call themselves Hispanic are typically more assimilated (or acculturated), politically conservative, and younger than those who use the term Latino, who, conversely, tend to be liberal, older, and at times, more radical.
“A recent presidential tracking poll by Hispanic Trends, Inc., a polling firm associated with Hispanic Magazine, wanted to put the identity issue to rest once and for all by asking registered voters which term they preferred--Hispanic or Latino?” Concludes Ms. Granado, “The result was something of a surprise: A majority prefers the term Hispanic.”
There, does that straighten the picture on the wall?
Reference Sources:
1. U.S. Census Bureau, Census of Population.
2. www.HispanicsOnline.com. This website is an invaluable resource for anyone seeking to learn more about Hispanic culture, lifestyle, economics and demographics.
3. “Surveys Reveal Hispanics’ Family Concerns,” Humberto Cruz, The Savings Game, Tribune Media Services, 1/5/03
4. “Family Is Priority for Many Hispanic Workers,” Carol Kleiman, Tampa Tribune, 12/24/02
5. The Allied Media Publication Network allows you to target this market through publications whose editorial focus is directly linked to Hispanic culture.
6. “Bilingual Yellow Pages to Embrace Hispanics,” Rafael Morales, Tampa Tribune, 10/25/02
7. “Small Business Research Summary’s – Analysis of Hispanic-Owned Companies,” David Birch September 2000. Cognetics Marketing Services, Inc.
8. “The Hispanic Market Continues To Grow Everywhere!” Alex L?pez Negrete, President/CEO, L?pez Negrete Communications.
9. “The Hispanic Population in the United States, March 2000,” Roberto Ramirez and Melissa Therrien.
10. “Top 10 Cities For Hispanics 2002,” Gigi Anders, www.HispanicsOnline.com
11. “Hispanics Living in the Peach State,” Yolanda Rodr?guez, www.HispanicsOnline.com
12. “'Hispanic' vs. 'Latino’: A New Poll Finds That The Term 'Hispanic' Is Preferred,” Christina Granado, www.Hispaniconline.Com
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