In: Economics
A) What would be the consequences of the following expected trends in the future of the U.S. Hispanic market? (address each trend separately)
- Political mobilization of Latino voters
- Researcher will focus on the study of consumer behavior of Hispanics, with emphasis on collectivism, metaphysical influences, changes in gender role relations, polymorphic leadership, influence of time and space, cross-border transactions, and the new greening of America.
B) What are the implications for marketers of the trends listed in question A (also including trends like A younger and faster growing population, A more diversified cultural group: multiethnic and multifaceted Latino market, Cultural marketing becomes more important,Technological innovation will have a greater impact on Hispanics)
Various Researches conducted on mobilization of Latinos has shown that these guys are always going to encourage Hispanic potential voters for active participation in the polls, due to sharing the same background and a connection that develops within them. It is always an important factor deciding tje political front.
Latino candidates and Latino voters connection is always set to the extreme whether it is the offer to a policy solutions which addresses specific issues relevant to a lot in the society, and they offer important hints on whether this common background will be beneficial to how they represent their district if they're elected. Alomg woth this latinos have fewer resources, such as wealth. For instance, as per a collected report the DCCC has had Gil Cisneros in the 39th District in California, a Republica district selecting Hillary Clinton in 2016 and marks a great opportunity. Also a latino Mr. Cisneros, who gained every support from the because he has some advantages that he is a Latino, former Republican leader, and have money.
Now let's come to the second point, Its a fact that the hispanic consumers at resent are not the same as they were years back. They are now the youngest ethnic group in America with the median age being 28. Knowing that the youth is crucial for media advertisers as it influences their media consumption traits, the technology they use and its abundance in supreme spending years and much more. Hispanics or especially a younger age group of the United States — is also increasingly more scattered than older Americans. As a matter of fact, almost half of the United States millennial population will be multicultural in the upcoming years.
Now, the Brands are looking to reach younger consumer groups, specifically those who are Hispanic, will need to adapt their advertising campaigns to include relevant messaging and delivery at the right time and on the right platforms. Response by these advertisers are through messaging that relates to Hispanic customs, values and culture. Advertisers can engage with Hispanics in various ways, such as through language like Spanish/bilingual etc., this is evemtually for the advertisers to realize that when it comes to Hispanics, not all campaigns are created equally , and a large part of that is due to the diversity that exists within the United States Hispanic population depending on age, language, nationality and other factors.