Question

A) What would be the consequences of the following expected trends in the future of the U.S. Hispanic market? (address each trend separately)

1. A younger and faster growing population
2. A more diversified cultural group: multiethnic and multifaceted Latino market
3. Cultural marketing becomes more important
4. Technological innovation will have a greater impact on Hispanics
5. Political mobilization of Latino voters
6. 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

Answer 1

A) Consequences of the expected trends in the future of the U.S. Hispanic market-

Hispanic market is defined as the representation of the Hispanic immigrant population in the overall US population.

• A younger and faster-growing population- In case of growth of the population of Hispanics, the immigrant market will increase thus giving rise in overall Hispanic population in the US.
• A more diversified cultural group: multiethnic and multifaceted Latino market- Latinos and Hispanic, both the immigrant population have a fair representation in the US population and contribute to the economic growth of the country. Latinos are more diversified group than Hispanics and with its continuous growth in almost all the fields can prove to be a tough competition to the Hispanic population to make their mark just because of a large representation of the former than the latter.
• Cultural marketing becomes more important- This will help and support the Hispanic market as it focuses on the cultural aspect of the population, thus promoting the Hispanic culture.
• Technological innovation will have a greater impact on Hispanics- Hispanics need more upliftment in the US than the Latinos and natives. Technological innovation will have a greater impact on this ethnic group for it will uplift this society.