Pan Boricua: Developing a Market Strategy for the Hispanic Market in the United States
(7 pages of text)
Two inexperienced, but strongly committed, entrepreneurs face the hassles of a new venture: exporting dough from Puerto Rico to cities in the United States with large numbers of Puerto Rican immigrants who are longing nostalgically for their beloved pan sobao (bread made with vegetable shortening). With thousands of Puerto Ricans living in and/or moving to the United States and after several incidents of fraud by partners of the entrepreneurs, they are thinking about how to take advantage of what seems to be an opportunity for doing business outside their Caribbean home. These entrepreneurs are confronting several challenges: 1) Preparing to detect opportunities and to get personally involved in a demanding export business 2) Differentiating and positioning the brand in a crowded market. Is a nostalgic feeling enough of a motivator to engage customers with the brand? 3) Deciding whether institution is a substitute for market data and feasibility determination.
- To illustrate the opportunities and challenges of exporting to ethnic markets in the United States.
- To illustrate the importance of conducting market research as part of opportunity identification, even if those involved in developing a new business are part of the ethnic group that comprises the market of interest. When your target is a Puerto Rican population, it is probably not enough to be a Puerto Rican in order to be successful.
- To illustrate that competing is more than just being tactical. It requires a strategic mind. So being an entrepreneur might not be enough. It is also expected that entrepreneurs become managers (“generals”) of a new business (“army”).
United States, Small, 2009
$5.30 CAD / $5.00 USD Printed Copy
$4.50 CAD / $4.25 USD Permissions
$4.50 CAD / $4.25 USD Digital Download