Question

Would the Hispanic subculture be a viable target segment for a marketers of consumer goods? Why/not? Explain the 5 criteria used in class to define an effective market segment. Does the Hispanic market meet these criteria for this service?

Answer 1

Yes, Hispanic subculture are a viable target segment for a marketers of consumer goods. One of the main reasons for this is that they represent 19.5% of the US population which is around 64 Million. Another reason is that since most of them are migrated workers, they don't have preference for any brand beforehand. So, it is easier to woo them and enjoy their loyalty for lifetime as they are not familiar with the brands and all the companies have an equal opportunity to attract these customers.

The 5 criteria are:

Sizeable or large: This means there population should constitute a significant percentage of the total population.

Identifiable or measurable: There should be data available to know their numbers.

Accessible: The target group should be willing to explore new brands.

Stable: The group should be there for a larger period of time.

Actionable or Congruent: The company should be able to implement policies to attract the group.

The hispanic market meet all of the above criteria's as discussed above.