Page 14 - HISPANIC MARKET OVERVIEW - 2018-complete

2018 HISPANIC MARKET OVERVIEW, presented by López Negrete Communications
the name ahaa – it says ‘Association of Hispanic Advertising Agencies.’ Several years ago we decided to open it to media companies, research companies, PR companies. It made sense to update the name and was something that came up in our research. A lot of people are saying, ‘I am not a Hispanic advertising agency, and I would like to the see the name reflective of that change.’”
Concurrently, the Hispanic marketing discipline has evolved from in-language marketing to something bigger — culture marketing. Says Mizrahi, “Culture is at the base of what we do.”
But why remove “Hispanic” from the name of an organization that has Hispanic marketing and advertising at its heart?
“We are absolutely not denying we are Hispanic,” Mizrahi explains. “It is our specialization and it is at the core of what we do. Keeping that we are the voice of Hispanic marketing (as a tag line to CMC) was good enough.”
The decision to make the name change didn’t come easy. There were two votes and having the qualifying statement that
defined CMC as the voice of
Hispanic marketing was fully
vetted and debated.
Among those worried about what the name change would bring was Mizrahi.
So far, he and other key CMC leaders are convinced the commitment to culture was the right thing to do.
The qualifying statement is equally essential.
WE ARE ABSOLUTELY NOT DENYING WE ARE HISPANICS. IT IS OUR SPECIALIZATION AND IT IS AT THE CORE OF WHAT WE DO. KEEPING THAT WE ARE THE VOICE OF HISPANIC MARKETING (AS A TAG LINE TO CMC) WAS GOOD ENOUGH.
— Issac Mizrahi
“Hispanic marketing is the opportunity for growth,” Mizrahi says. “Despite the progress that we’ve seen in the last few years in terms of economy and growth, corporations in America are still struggling to find topline growth.”
Speaking of the U.S. Hispanic consumer, he continues, “We are 61 million strong, with purchasing power growing, unemployment going down, and household income and educational attainment going up.”
As such, there is continued value in adopting a segmented marketing approach.
“When there is a focus on the right attributes, it can yield significant effectiveness to our companies, and we are cautiously optimistic that we are seeing a turnaround in our market,” Mizrahi says. “The Total Market approach resulted in failed growth and failed to