To Target or not to Target: Are Hispanic Teen Car Buyers a Worthwhile Segment?
Tom Anderson of Anderson Analytics and Frank Leinweber of
TNS Automotive to Present “A Viable New Segment? – The Hispanic Youth Market in North America” at ESOMAR Automotive 2006 Conference
Lausanne, Switzerland—February 28, 2006—For companies trying to increase sales by understanding who buys what, analysis of target markets and buying trends is a top priority. The North American automotive industry is no different as it seeks to understand an important and growing market segment: Hispanic youth.
In a study presented at the 2006 ESOMAR Automotive Conference in Lausanne, Switzerland, Anderson Analytics looked at the following key targeting criteria: economic potential, identification of causal differences, and reachability in order to determine whether or not this segment merits a unique marketing approach. Anderson’s analysis of the quantitative and qualitative data made a strong case in support of targeting the Hispanic Youth Segment with a unique and differentiated marketing strategy.
The research showed that the Hispanic youth segment should be targeted based on all standard targeting criteria. The segment is economically attractive, growing faster than any other demographic group. It is very different in terms of psychological needs and attitudes related to cars. And, while Hispanic youth tend to be bilingual, and it is possible to reach the majority in mainstream English media, they are reachable in other ways, and clearly warrant a specific strategy.
“Hispanic teens are indeed a growing target for car makers,” said Tom Anderson, principal, Anderson Analytics. “We found that innovative marketers willing to take advantage of the more creative media channels such as websites or magazines catering to Hispanic Youth or via viral marketing could have much greater success reaching this market.”
“This study is unique in that it combines advanced research techniques with the cultural awareness and sensitivity needed to truly understand this otherwise hard to reach segment. This study is a perfect example of how to successfully model the impact of cultural differences in today’s multi-ethnic business environment” said Frank Leinweber, Director, TNS Automotive.
The TNS Teen Auto Survey was conducted by TNS in both English and Spanish in 2004, was administered to 1,307 US youth, 290 whom identified themselves as Hispanic. In January 2006, Anderson Analytic’s conducted projective interviews with an additional 236 youth, 12% whom identified themselves as Hispanic.
About Anderson Analytics, LLC
Anderson Analytics is a full service market research consultancy, providing quantitative and qualitative solutions. At Anderson Analytics we help solve challenging marketing problems and discover hidden opportunities. We combine the efficiencies and business experience found in large research firms with the rigorous methodological understanding from academia with the enthusiasm and creativity found only in smaller firms. Helping clients achieve a significantly better return on marketing investment is our main goal. For more information, please see www.andersonanalytics.com.
TNS is a market information group. One of the world's largest custom research companies, TNS operates a global network spanning 70 countries and employees over 13,000 people. It provides market information and measurement, together with insights and analysis, to local and multinational organizations.