ABSTRACT
This chapter introduces the concept of the “cost of doing nothing” when it comes to multicultural marketing. Given that most marketers still see multicultural marketing efforts as an incremental cost, this new concept allows marketers to compare these costs with the cost of inaction.
This concept is based on the simple idea of “fair share,” which compares the market share of a given brand with the Hispanic segment compared with the share of the segment in the total U.S. population. For instance, any brand with sales from the Hispanic segment below 19% shows an underdeveloped opportunity that can be quantified in terms of $ sales.
This chapter also discussed the concept of acculturation in the context of multicultural marketing; it presents relevant data regarding the connection of Hispanic consumers and their culture and closes with a case study from Sprint.
