The Latin Wave!
Who are they?

·Who are Hispanics? They are anyone of Spanish decent/ancestry.
· Of the Hispanic population, 64% are Mexican, another 10% are Puerto Rican, Cuban 3%, 3% Salvadorian, and another 3% being of Dominican descent. The remainders of the percentage are of other Central and South American origins.
· Since 1990, they have increased 38%, compared to the overall grow of the us was at 9%
· As of July 2004, Hispanics make up about 14.1% of the overall us population, about 41.3 million people.
· If it grows as projected, the Hispanic population is going to reach 24% of the total population, about 102.6 million people.
· Almost half of the population lives in Texas and California
· There are also three different generation groups as well, the 1st, 2nd and 3rd generations.
· The first generation are the original immigrants that speak little to no English
· The second generations speak both English and Spanish
· The third generations (under 18) speaks both fluently, and are technologically sound, they make up about 1/3rd of the Hispanic population.
Why are they so important?

· First of all, because they are growing so rapidly.
· Secondly, they are the second largest segment with the most disposable money,(second to baby boomers)
· They currently have over $700 billion in purchasing power, and are projected to grow to $1trillion by the end of 2010.(Since 1990, they have seen an increase of 76% )
· According to the Kagan Research institute, by 2010, Hispanic advertising will reach $5.5 billion in the US.
SWOT Analysis:

· Strengths of the trend include: A young, demographic with 1/3 of it being composed of minors.
Bilingual, which makes them easier to reach with an English speaking media?

· Weaknesses include: They do not respond well to an add that contains just a Spanish language, but also shows family values that they share. There can be up to four different generations that have to be targeted, which makes you able to only connect with one or two at a single time and not all of them.
· Opportunities for this group include: That Hispanics are a large demographic, so even if you target just one of the generations, you will have somewhat of a cash cow. If customer loyalty is built, there may be an opportunity to for a company to get a constant cash flow.
· Threats that are involved include: Not reaching this demographic in the correct manner; the other threat that poses, is that in the near future, Spanish media may take over in the united states as the primary form of media.
Businesses that use the Trend:

· Ford motor co, H&R Block, XM satellite radio, National Football League, Anhauser-Bush Inc., State Farm insurance.
· Businesses that the trend would work good for: healthcare industry, automotive industry, insurance industry and banking and finance industry.
Future of the trend:

· The future of this trend is a bright one, as long as someone can find a way to successfully reach to Latino population. I believe that the key media for reaching them is via internet. Many Latinos are getting internet access daily, and what a better way than to be exposed to some online advertising.