Beating the Paradoxes of Emerging Markets: Strategies for Reaching the Consumers at the Bottom of the Pyramid
Beating the Paradoxes of Emerging Markets: Strategies for Reaching the Consumers at the Bottom of the Pyramid
This chapter reviews the strategies of Latin American companies that have attained leading positions in the region, facing and beating major global companies in their product categories. The companies studied include Cemex, Corona Beer, Arcor, Jabon La Corona, Nazca Cosmetics, Bodegas Lopez, and others. The chapter examines the complex context drawn by scarcity in the region, and several ‘myths’ about the poor that blur managers' perspective when assessing the real market potential. Consumer research conducted in six major markets proves them wrong. The paradoxes that prevent managers from developing innovative strategies that have given the examined companies access to broad mass markets in the region are considered.
Keywords: Latin America, strategy, emerging economies, scarcity, innovation
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