Results – Stage 1

  1. Do you know what economic, regulatory, immigration, foreign trade or other activity is impacting the Hispanic market and how this is likely to affect how Hispanics behave towards your industry and your offering?
    your answer:

  2. Do you know how your competition is responding to the Hispanic market, what their approach to targeting them is, and what this means in terms of the approach your company should take?
    your answer:

  3. Do you know if there is a Hispanic profile counterpart to your core consumer target and how large this Hispanic segment of the market is in the geographies where you do business?
    your answer:

  4. Do you know the extent to which your core consumer base has changed/shrunk/grown in relation to the Hispanic market segment you would target in your trade areas?
    your answer:

  5. Do you know how your sales are being impacted or could be impacted by Hispanic market growth in your trade areas?
    your answer:

  6. Have you quantified the impact on future sales if you don’t prepare to target your key Hispanic segment as part of your strategy?
    your answer:

  7. Have you analyzed the likely sales growth/decline scenario in three to five years from now if your company does nothing?
    your answer:

You answered "Yes" 0 times.

To how many of the questions can you answer “yes.” If the answer is less than 3, the first steps you need to take is to gain a thorough understanding of the macro environment, industry trends and your competitive environment relative to the Hispanic consumer marketplace so you can accurately assess the size of the opportunity.

The outcome of the opportunity assessment may lead some companies to do nothing while others discover that speed to market is critical to maintain or improve business performance into the future. What will be your assessment outcome?