Answer:
Lorenzo must put together a marketing team that understands for following,
1. The difference between Hispanics and Latinos.
2. A team that can identify the cultural diversity among Hispanics
3.The team must also define their goals and objectives of developing the product in order to win Hispanic consumers.
4. Develop campaigns that target Hispanic consumers.
5. Age group differences between young Hispanic consumers and older consumers.
6. spending trends.
Explanation: To develop a product that will greatly be competitive in the Hispanic market, Lorenzo must pick a marketing team that can carry out the above in order to have the biggest advantage. Keeping in mind the differences that exist between Hispanics and Latinos is extremely important because these two groups tend to be confused for one. It is imperative to separate the two in order for the team to know what sort of campaigns they would put in place to promote the product. Use of Spanglish can be a great factor in promotional campaigns for hispanic products as well.
