By Mari D. González
THE PREMISE: “America’s corporations can no longer ignore Hispanic marketing like Mitt Romney did.”
THE RELUCTANCE: “Companies [have failed] to understand the importance of being culturally relevant because they first-and-foremost have their brand’s interests – rather than Hispanic consumer’s cultural values, preferences and passion points – at heart.” Armando Azarloza
THE CHALLENGE: “Companies are deprived of diversity in leadership, [thus] lack the imagination, creativity, authenticity and innovation to market to today’s fast growing demographic shift.”
AND THE GOOD NEWS: “Hispanic small businesses are growing at twice the rate of the national average – generating over $350B in annual revenues (that some estimate is closer to $650B).”
Quotes from Forbes’, November 12, 2012, article by Glenn Llopis
The expanding rate in the Hispanic market is something a lot of companies are struggling to understand and utilize.