According to a recent article in Brandweek, Pepsi is throwing some huge private parties for young Latinos, scheduled to coincide with major media events like the Latin Grammys. The event is seen as a way to interact with young Latino consumers in a relevant way. But will this campaign be effective?
Called the “Blue Carpet Bash,” it will target 18 to 34 year olds, the most sought after market segment for many companies. In 2006, Pepsi spent $950 million on advertising to Latinos. With figures like these, it’s no wonder that Pepsi is ranked among the top ten advertisers to the Hispanic market each year by Advertising Age.
Microsoft is also rumored to be in talks regarding advertising at the event.
I think this event, if executed successfully, could be a huge opportunity for Pepsi, as well as a model for other companies who heavily market to the Latino community. By targeting young consumers, Pepsi is creating brand awareness among people who will be increasing their spending power and having kids in the coming years.
This event will really serve as the model for future efforts to market to Latino youth. The potential to create change in the industry as a result of this campaign is great, and I think it’s coming at the perfect time culturally. We in the U.S. are at a point where our national identity is shifting in noticeable ways and, by making efforts to change, corporate America is leading the way in tackling some tough issues.
It will be interesting to see where this goes, and if the Blue Carpet will replace the red carpet in the minds of young Latinos in the U.S.
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