Using Market Research and Hispanic Segmentation to Drive Political Awareness

Supercharge Your Branding Strategy With Market Research

7 reasons to consider Houston for your next market research study!

Houston, the 4th largest city in the U.S., offers a diverse environment perfect for individuals from all walks of life. For this reason it is the perfect place for companies to obtain valuable consumer market research information, to assist them further with understanding how consumers respond and interact with their products, services, and their brand. Here are seven reasons why businesses should consider Houston for their next market research location.

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How Moderators Use Their Listening Skills To Improve Their Market Research Focus Groups

For almost 20 years, Maricel Dominguez-Watson, owner and CEO of ConneXion Research has conducted hundreds of market research focus groups with people of all ages and backgrounds. Topics have ranged from consumer goods and services, to retail and finances, and more. Whether she’s talked to them about home buying or purchasing a new brand of yogurt, for instance, the one thing that is most critical for success for each market research topic is listening.

In her experience, mastering the art of listening can help you become a good leader, discover new opportunities, and become even more knowledgeable. People often confuse hearing with listening. However, there is a distinct difference between the two.

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Check Yourself Before You Wreck Yourself & Your Advertising Campaign (How Brands Use Market Research)

One of the reasons why brands use market research is to deepen their understanding of their customers, then use this information to create effective advertising campaigns. High performing brands and marketing agencies realize that consumer insights can make marketing more effective and, ultimately, their products or services more successful.

By not using market research, you run the risk of wasting a lot of creative time and marketing budget on a doomed ad campaign.

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Why We Love Consumer Research…And You Should, Too!

Consumers are the backbone of many businesses in the U.S. and they account for approximately 70 percent of the national economy. For the third quarter of 2015, consumer spending in the United States increased to 11268.60 USD Billion from 11178.90 USD Billion in the second quarter of 2015.  Without gathering data and having a better understanding of consumers’ perceptions, both businesses and the government, run the risk of facing surprises that can be economically detrimental.  Therefore, when you take into account how much consumers are spending and the impact they have on the market, it’s no brainer to fall in love with consumer research.

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Recognizing Hispanic Heritage all year round!

Hispanic Heritage is celebrated each year between the dates of September 15 to October 15.  During this time people recognize the contribution of American citizens whose ancestors came from different Hispanic Heritage from around the world. Although this holiday only last a month here in the U.S., we need to continue raising awareness and recognizing contributions made by Hispanics all year round!

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Multicultural Expansion in the U.S.

As we continue to focus on reaching multicultural consumers, in particularly Hispanics, we are thrilled when we find reliable market research data worthy of sharing, and beneficial for our readers.

We recently attended MultiCultural Retail 360 event in CA, we learned several key statistics from Nielsen’s The Multicultural Edge: Rising Super Consumers report.

It’s no surprise that the top growing generation of Americans consist of mixed ethnicities known as multicultural consumers. They are savvy buyers and are setting new trends while significantly spending more on products and services. In the top 25 most populated counties in the U.S., multicultural residents are already the majority. For this and many other reasons, identifying and connecting with multicultural consumers should be a top priority for many businesses.

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Diversity In The Workforce Increases Consumer Reach

Once seen as an idea of the future, diversity in the workplace is now the popular method of employment companies are implementing to sustain business for the future. The reason is because this provides a rich mix of employees to capture a snapshot of different markets and therefore build trust and a further connection with consumers. Brands that make it a point to understand deeply the differences in ethnicities, gender, sexual orientation, religion, and cultures, strengthen their marketing strategies which can result in faster growth.

Companies in the S&P 100 that received first and second ratings for including women, minorities, and people of diverse sexual orientation include Citigroup, Merck, JP Morgan Chase, and Coca Cola. Another 11 companies ranked third, including American Express, Dell, McDonald’s, and PepsiCo. What these companies also have in common, is that they are all top mega international brands. Their consumer reach is greater than most companies, which perhaps relates to their diverse workforce. Investing in a diverse workforce effectively drives innovation, increases creativity, and makes recruitment easier.

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Millennials – Gain their trust, earn their spending

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We already know that Millennials, or “Gen Y,” are tech savvy, connected, self-centered but, socially-conscious, and educated. And they love to spend. This makes a lot of sense, given that they grew up during one of the most prosperous and stable economic periods in American history. This makes them resilient and optimistic about their futures. Despite facing a shaky job market and a diminished value in their education, they see their future bright and full of success.

With 80 million+ strong, a current $2.45 TRILLION purchasing power, and an anticipated growth from 44% to 75% of the workforce globally by 2025, it makes sense why so many brands are interested in marketing and selling to this generation.

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