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Hispanic Market Segmentation

1199 Words5 Pages

The Hispanic market is now the largest and fastest growing ethnic subculture in the United States. According to the U.S. Census Bureau’s findings, the U.S. Hispanic population numbers more than 41 million people. (Muller, 2008) The Hispanic population is growing much faster than many other ethnic segments. Hispanics will represent an increasing percentage of the American consumer base. They account for about 15% of the U.S. labor force and is projected to reach almost 20% by the year 2020. In 2008, more than 1 out of 7 U.S. residents were Hispanic. Along with the large growth in numbers, the Hispanic buying power has gone up. Many reasons for the increase in buying power have to do with employment opportunities, strong immigration, increase …show more content…

population, and marketers and the Breckenridge Brewery have definitely taken notice. ‘Most U.S.-based firms have a significant corporate imperative to attract Hispanic consumers, given their tremendous demographic and economic importance.’ (Llopis, 2013) The Hispanic market ‘will be the dominant and in many cases will be the only driver of domestic CPG sales growth.’ (Llopis, 2013) The Breckenridge Brewery is aware of the change and the shift towards the Hispanic market. It has been no secret that the Hispanic segment has been targeted by many breweries due to their rapid growth. Also, the percentage of drinking-age adults who are Hispanic is expected to grow from 16 percent in 2010 to 23 percent in 2030. Looking at this growth in numbers and beer consumption the goal for the Breckenridge …show more content…

Yuengling & Son beer, our product is local and always has new flavors and variety for every season and event. The best strategy the brewery must start with is great positioning and timing. Hispanics tend to spend more time with family and friends in the summer enjoying the heat and a nice cold beer. This would bring a great opportunity for the brewery to step in and release a possible new flavor to the Hispanic market at a big event or holiday, using word of mouth to build awareness and interest in the beer. Breckenridge Brewery recently release an Agave beer, which is beer aged in tequila barrels, which is used to incorporate more of a ‘tequila’ flavor targeted towards the young latino male. Another strategy would be to release a new ‘chili’ beer. The beer will be planned to be released during the peak of beer sales in the Hispanic market. The summer season generates an increase in outdoor activities and events that increase the consumption of alcohol. (Figueroa, 2013) Cinco de Mayo would be an ideal time to release the Chili beer along with the returning Agave beer, triggering interest and positioning the beer to the time where most Mexican Americans tend to spend most of their alcohol money on beer. Another goal would be to advertise the

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