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MarketTools Extends Hispanic Reach
Online specialist MarketTools has introduced a new service - Hispanic Reach - designed to understand the opinions and purchasing behaviour of the US Hispanic population, which has an estimated buying power of $600bn. The service will use a 100,000-strong online panel, together with offline respondents to ensure a representative sample.
Hispanics currently comprise 12.5% of the US population, and are expected to reach 24% by 2050, making them the fastest growing population segment. Their buying power is expected to grow to $1 trillion by 2007.
However, according to MarketTools, this population is often difficult for researchers to reach and understand. The company says that online-only research tends to capture Hispanics who are more 'acculturated', while offline research captures a more 'unacculturated' group. By blending both solutions, the company aims to reach a more representative sample. The majority of the research will be conducted online with a subset of MarketTools' two-million-plus ZoomPanel.
Speaking of the new service, Amal Johnson, CEO of MarketTools, says: 'As the Hispanic population and other multi-cultural populations grow and diversify, our customers need to keep abreast of their evolving needs, attitudes and opinions.'
The company is online at www.markettools.com
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