Segmentation of Hispanic consumers in the United States based on the new acculturation model
Abstract:
The purpose of this paper is to provide a brief history of Acculturation Models as well as a new recommended approach to sub-segmenting the U.S. Hispanic market. There are discussions on other factors related to acculturation that may affect the way a marketer should tailor communication in order to reach sub-segments of the U.S. Hispanic market more effectively. Hispanics have not only increased in numbers to become the largest ethnic minority population in the United States, constituting one of the fastest growing ethnic minority groups, but have also reached an estimated purchasing power of $600 billion (7.4% of the total U.S. purchasing power) and which is expected to grow at an annual average rate of 9.7%.
