Document Type
Conference Proceeding
Publication Date
2019
Abstract
Latin America and the Caribbean encompasses over 40 countries in Central America, South America, and the Caribbean. Cultural influences in this region include Africa, the native groups, India, as well as the former colonizers from Europe - the British, Spanish, French, Dutch, and Portuguese, making it one of the most diverse markets in the world. Country populations within the region are also varied and range from as small as St. Kitts & Nevis with a population of only 52,175 to as large as Brazil with a population of 207,353,391, according to the CIA World Factbook (2017).
Despite lower incomes, the sheer size of this region cannot be ignored by marketers, as it numbers over 630 million people, according to the World Bank’s 2016 numbers, with millennials alone representing approximately thirty percent (30%) of this group. It should also be noted that economic growth in the region is projected to increase by an average of 2.7 percent by 2020, a marked improvement over previous years (Haughton, 2018). Given their close proximity to North America, this region has represented low hanging fruit for multinational corporations. However, with the varying sizes and populations, Latin America and the Caribbean present certain unique challenges to international marketers when developing marketing strategies for the region. This panel will discuss some key considerations for targeting such a diverse region. Discussions will revolve around the marketing challenge associated with global expansion to this region and will highlight three areas most pertinent to marketers responsible for their organizations’ success in the region.
Copyright Statement / License for Reuse
This work is licensed under a Creative Commons Attribution 3.0 License.
Recommended Citation
Leslie, Neleen S.; McKoy, Celia; and Hyatt, Everett, "Diversity in Emerging Markets: The Case of Latin American & The Caribbean" (2019). Association of Marketing Theory and Practice Proceedings 2019. 61.
https://digitalcommons.georgiasouthern.edu/amtp-proceedings_2019/61
About the Authors
Neleen S. Leslie, University of Technology, Jamaica
Celia McKoy, University of Technology, Jamaica
Everett Hyatt, University of Technology, Jamaica