1. The Challenge Their Goal: –Build bridges to the Hispanic community and connect without creating a cultural divide Their Product: –Membership to the organization –Networking opportunities –Business services –Legislative/lobbying services The Marketing Challenges: –Acquire new small, medium & large member businesses –Retain existing members year-over-year Provide the right “products” mix to satisfy member needs Increased Revenue leads to increased resource availability

2. Market Segmentation Variables that determined market segments: –Location –Membership benefits/goals –Size of the business 4 Segments identified: –Relationship & Service Businesses –Hispanic-Owned businesses in Richmond/NoVA –Hispanic-Owned businesses outside of Richmond & Northern Virginia –Corporations

3. Selected Marketing Strategy Focus on solution for three segments: 1.Corporate Sponsors 2.Relationship Members 3.Small Hispanic-owned Business Members

4. Product: misc (don’t know where this goes) Online member database

5. Price Consider the following pricing strategies: –Quarterly payment plans –Multi-year membership plans –Discounted renewal –Associate member plans

6. Promotion: Acquisition Direct marketing –Purchase list of Hispanic-Owned Businesses –Send out introduction letters –Follow-up with telephone calls –Expenses can be recovered with one new member Targeted mass media –Virginia Business Magazine

7. Alternative Marketing Strategies Price: –Tiered or Menu pricing structure