Latinos currently make up about 17% of the US population and they are an important piece of the American consumer landscape. With buying power of more than $1.2 trillion, Latinos represent an important piece of the American market that should be studied in its own right to be well understood. In addition, Latinos are ahead of the trends in terms of adopting digital technologies, meaning they are connected and engaged consumers whose opinions could prove invaluable to your company. To make the most of Latino market research, it is important to keep certain dos and don’ts in mind. Learn what you need to know in today’s blog.
Are you mastering Hispanic market research?
Latinos are a multi-faceted group
While we tend to lump Latinos into one homogenous group, this could not be further from reality. Hispanics come from a wide variety of backgrounds in terms of socioeconomic status, cultural and religious beliefs, and political affiliations. To effectively conduct market research, you’ll need to recognize the diversity within the population and use that to your advantage. To gain an accurate and useful assessment, you’ll need to include a variety of respondents from a broad range of backgrounds, including varying levels of acculturation.
Keep questions open ended
It is important to remember that the Hispanic market may not always use goods and products in the same way that the General Market will, so take care to ensure your questions can accommodate the different ways that Latinos may interact with your product. For example, if you are asking about consumer opinions on their favorite cereal to eat for breakfast, you may miss out on the insight that many families eat cereal for meals other than just breakfast. By asking questions that are open to interpretation, you can better ensure that you will receive the types of diverse responses that will give you the most insight into your product.
Respect your participants
When working with market research participants who speak limited English or have minimal formal education, it may be tempting to oversimplify your questions or your research. However, this is not only disrespectful but can also hurt your research. Your participants hold valuable insight and opinions that will benefit your company. Design your questions and research methods to be respectful and engaging and you will gain useful marketing insight that can give you a leg up on your competitors.
About Observation Baltimore:
At Observation Baltimore, we understand that the success of your research is directly tied to the quality of your participants. Recognized as one of the top Maryland market research facilities and rated “One of the World’s Best” by Impulse Survey, we believe that Experienced Recruiting Makes the Difference. Our experienced recruiting is the foundation of our mission, as well as courteous and proactive hospitality and client services. Just six minutes from BWI airport and AMTRAK, our Baltimore research facility has a great location. Most importantly, we understand market research!
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