Wednesday, February 15, 2012

Non-Hispanic managers need to "get it"

The mission of PMP's latest release, WIN! the Hispanic Market: Strategies for Business Growth, is to alert corporate managers and investors to the coming power of the Hispanic market, both in numbers and consumer spending. It also focuses on the concern that consumer market research and data collection in corporations does not record many sales to Hispanics and therefore, corporate managers often do not appreciate just how much of their market is multicultural.

The book's author, M. Isabel Valdes, is a strong proponent of high quality market research as well as taking an in-culture approach to marketing. She believes marketing in-culture is essential to winning "share of heart" among Hispanics. The contributions to the book of 19 strategic, data, and marketing research experts support her beliefs with cogent examples and suggestions of how data collection can be improved.

The sad thing, from our point of view, is that most of the early orders for this book are coming from Hispanic managers. The good thing is that the book should help these ethnic managers "sell" their point of view within the companies they work for. But wouldn't it be great if non-Hispanic white managers took the initiative to learn more about this important growing market and how to appeal to it to grow their businesses in the United States?

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