ABSTRACT
Globalization has left its imprint on markets the world over, and its effects on the economies and business environment in Latin America are no exception. While the region has succeeded in attracting the interest of international business researchers, their focus has largely been on issues such as trade, foreign direct investment and inflationary pressures in the region. Seventeen years after Martínez, Quelch and Ganitsky (1992) wrote an article exhorting marketing academicians not to forget Latin America, it appears that their pleas may have largely fallen on deaf ears—despite some exceptions. The expansion of the advertising industry in Latin America is the area that has attracted the greatest attention on the part of international marketing researchers to date. However, beyond the industry's internationalization, there is a dearth of international marketing research on Latin America seeking to understand advertising practices in the region. For example, little is known about the degree to which advertising is standardized (or adapted) within the region. This issue is likely to be of interest to marketing and advertising researchers and practitioners, given the industry's penetration and sophistication in the region today. Yet, Latin America has failed to attract the attention that other emerging markets have garnered—most notably Asia. While the interest in Asia is understandable, the formidable rise in Latin America's advertising industry, the size of its markets, and the significant presence of multinational clients and agencies warrants increased attention.
