Marketing is about people, especially in LATAM markets. People are affected by their affinity groups (types of groups – grandmothers, teenagers, etc. – that are buying certain products for reasons not necessarily aligned with a specific demographic), consumer behavior, values, beliefs, and cultures.
The way they express themselves can change the way they buy. Robert Sanchez understands this and guides corporations to adapt and adopt their marketing strategies to exploit and develop new opportunities fully. His grasp and understanding of the resources, tools, and external conditions in each market actually establish the company’s brand penetration capability.
Robert Sanchez, Business Development / Revenue Growth Leader
The major challenge in LATAM is tied to political and economic conditions that are highly volatile. For example, a country can have four presidents elected democratically in the same year, each with his own agenda. One must learn to live in Crisis. To address this, Robert uses the sales force as a communication resource working directly in the field, with channels, and with a consumer-facing Marketing approach.
For example, the nutritional Market decreased because physicians were not motivated to prescribe supplements. Instead, companies introduced new vitamins and complements. Robert worked with the channels and retailers to find an alternative solution. “I discovered that there would be an opportunity if the company moved from a traditional product segmentation plan to a new one based on consumer behavior and not by demographics, but by using affinity groups.”
The idea was to create new affinity groups instead of splitting the total market into segments. Also, by understanding the cultural differences related to how Hispanics approach the buying process (more human, less digital interaction), I was able to drive marketing strategies that supported this key difference. “With these changes, all the strategy was set around new patterns and gained ten times what had been forecast, growing 35% for the first three years, and gaining 40% market share. If a company takes the best part of both market approaches, it would be possible to gain greater market share and better positioning in the rapidly growing Hispanic Market in the US and then extend their innovations to LATAM,” said Sanchez.
Watch full video interview below.
Contact Robert Sanchez via LinkedIn or his Career WebFolio.
Fred Coon, CEO
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