Thursday, July 1, 2010

As the U.S. Hispanic Market Grows, Leading Brands Step Up the Pressure on Information and Measurement Companies for More Comprehensive and Targeted Data

NEW YORK, July 1 /PRNewswire-HISPANIC PR WIRE/ -- With the U.S. Hispanic population becoming a major consumer force, brand marketers' need for comprehensive consumption and media measurement on this segment is essential. At a recent meeting of the Latinum Network, held at NBA headquarters in Manhattan, marketing executives from the nation's most powerful brands called for stepped up action by the industry's leading measurement and data companies. The meeting also uncovered the industry's appetite for standardized methodologies to assess overall performance and metrics in the U.S. Hispanic market.

The industry appears to be moving towards a "total market approach" where sales allocation and media consumption patterns for U.S. Hispanics are assessed vis a vis the general market. Without this new paradigm, brands will continue to struggle to evaluate ROI and optimize spend in the midst of this exploding demographic consumer segment.

According to David Wellisch, principal, Latinum Network, "A total market approach will ensure that you're investing each dollar where the return is highest, yet without sales tracking and comprehensive panel data, understanding the interactions and spillovers between the general market and the Hispanic market becomes very difficult."

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