Moldmakers schooled on marketing strategies for Latin America
A recent CPIA Ontario Mould Makers Council meeting provided attendees with insights on the large, growing and promising market in Latin America. High-tech companies like Celestica, Lucent and Nortel h...
A recent CPIA Ontario Mould Makers Council meeting provided attendees with insights on the large, growing and promising market in Latin America. High-tech companies like Celestica, Lucent and Nortel have a huge presence in Mexico. Brazil, with the world’s eighth largest economy, is part of a trading block known as the “southern cone”, consisting of itself, Argentina, Uruguay and Paraguay, noted Bob Marrs, director, America’s Branch Ontario Exports Inc. (179) MEDTT. The southern cone is world’s fourth largest trading block, with exports valued at $20 billion in 1998, up from $8.9 billion in 1990.
Marrs observed that Mexico is increasingly integrated with the U.S. economy, a feature which is making the Mexican economy look more and more like Ontario’s in terms of its industrial mix. The market for plastics machinery and resins in Mexico is growing at 11.6 percent annually, Marrs reported. In Chile, per capita consumption of plastics has increased by 50 percent since 1996.
Bob White, president of B.R.I. International Inc. (180), gave a presentation on threats and opportunities of doing business in Latin America. White suggested that moldmakers considering entering the Latin market first ask themselves what they need to do to create value for their Latin American customers. Implementing a successful strategy, White noted, involves creating an effective action plan to identify and meet Latin customer expectations, recognize the things your company must do to ensure that your stakeholders benefit from your Latin American initiative and understanding the gap between where you are and where you aspire to be. White recommends using an “export checklist” in preparation of an effective strategic plan that will develop the product, association and capital you need to enter the Latin American market.