By Betting in Brazil
You are a multinational company with a new product. Where will you test market: San Francisco, London, Jakarta, Switzerland, Japan or Brazil ?
Take a guess.
7.000 new products were introduced in Brazil in the first semester of 2009. Nearly 6% of all new products introduced in the world. Why?
For various reasons.
1. Brazil has the youngest population, excluding Africa, of the world. 26 year average, just in the beginning of a life cycle. That is a wonderful market to try new products. If you choose Switzerland, were everyone is loyal to a 30 year old brand, you may not be that successful.
2. Brazilians for many other reasons, are curious, technologically bent, and will try out everything new. We have more cell phones, more people on the internet, 80% of ORKUT affiliates of the world are Brazilian.
3. We speak a single language, USA has two, Switzerland has 4, and so on. Great for reducing advertising costs. Read more.