MARKET RESEARCH IN

LATIN AMERICA (LATAM)

Qualitative, quantitative and desk research

I'M AN ORIGINAL CATCHPHRASE

With offices in both the UK and Peru, Advantage helps organisations better understand Latin American markets and customer nuances. 

Our dual perspective helps us design effective market research, understand cultural differences and add value to the interpretation of findings.

We use creative (and sometimes unconventional) solutions to overcome infrastructure and information challenges to meet our clients' needs. 

At its heart, our approach combines Latin energy, spirit and creativity with rigour and discipline. 

We work with proven local partners to deliver high quality market research services.

 

Full service (design data collection, analysis and reporting) or fieldwork only.  

Our resources include:

  • 150 CATI stations located in Peru, Mexico, Brazil and Argentina. 

  • Over 200 street interviewers

  • Viewing facilities in all main markets with remote live streaming capabilities

  • Multiple online panels

Our desk research combines high quality global information from the British Library with country sources accessed by our local researchers in Peru, Mexico, Argentina, Brazil and Chile.  

Qualitative

  • Focus groups

  • Depth interviews

  • Online groups

  • Online communities 

  • Observation 

  • Accompanied activities e.g. shopping & website use

  • Mystery shopping

Quantitative

  • Telephone surveys (CATI)

  • Street interviews (CAPI)

  • Online surveys

  • Mystery shopping

Desk Research

  • Context for primary research findings

  • Market size & trends

  • Competitors 

  • Market entry support: 

    • Suppliers​

    • Distributors

    • Customers

Advantage is a proven partner to help companies enter new markets

Our international experience and dual perspective means we are well placed to add value, particularly for companies entering or seeking to grow within Latin American markets.  

We use both market research and desk research to help organisations evaluate new market risks and opportunities and provide practical support to help them succeed.

Or services include:  

  • Selecting the right markets:

    • Calculating market size

    • Understanding market trends, regulation and growth forecasts

    • Evaluating the attractiveness of market segments

    • Evaluating the resources needed

    • Identifying competitors and analysing their strengths and weaknesses 

  • Understanding customer needs

  • Testing the appeal of a clients's product and reactions to their marketing

  • Helping clients find potential customers and distributors

  • Identifying and connecting clients with local suppliers

 

​We use our own analysis framework to help advise companies. Market and segment opportunities are evaluated by examining both the market conditions and the degree of fit with a client’s current or planned capabilities to give commercially grounded recommendations.  

This model can be adapted to fit the needs of organisations of different sizes and budgets. Some clients require a full analysis, while others may only require an assessment of competitors. 

The main advantage of this approach is its objectivity. We use a very transparent methodology, resulting in very clear recommendations. 

The model provides a starting point as the needs of each organisation can vary. We would be happy to discuss your requirements and provide specific recommendations without any cost or obligation 

Market research in Latin America

The LATAM area consists of four geographical regions, thirty-three countries and is home to over 655 million people (source: 2019 www.worldometers.info).

 

Its population, natural resources and growth (in some countries) make it an area of great strategic opportunity for many companies.


Just a quick glance at country statistics reveals significant differences in terms of size and economic performance and that is before considering the social and political differences between each nation.

 

Importance of Cultural Understanding

Success within the region requires looking deeper than general stereotypes. Although only two languages are spoken across the region, the shared language does not always equate to shared values and behaviours. This can have an important impact on brand positioning and marketing activities as well as how market research findings are interpreted. 

 

The Hofstede 6-D model is helpful in illustrating cultural differences across six dimensions. Three dimensions are illustrated below with the darker colours indicating where countries index higher. 

 

Mediacom cluster the LATAM country characteristics and their implications for brand managers into three broad types. 

 

The need for up-to-date market information

Another important aspect of the region is its energy and volatility. The crisis in Venezuela and election of Jair Bolsonaro as Brazil’s president illustrate the relative instability in the region and the speed with which situations can change. 


Having accurate, up-to-date information is critical for businesses operating in or considering entry into the area. 

 

Information challenges 

Getting good quality information is certainly more difficult in LATAM when compared to European countries or the US, emphasising the need for local understanding and more creative approaches.

Published Information

  • Sources can be limited, updated infrequently and vary considerably in terms of overall quality.

  • Information sources are less accessible online, requiring local connections and knowledge of sources.

  • Published information quickly becomes out of date.

  • Corruption varies by country and can distort published information in terms of availability, quality and impartiality. This is especially the case where the information has financial implications such as reported company turnover.

Technology infrastructure

  • B2B and B2C databases are often poorly maintained leading to additional lead qualification and wasted effort.

  • Internet penetration is improving but remains low among the lower socio-economic groups.

  • Landline penetration is lower compared with European countries.

  • Online panels are growing, but quality can be an issue as people can mislead to earn incentives.

Cultural differences:

  • An absence of trust is often seen in both professional and day-to-day interactions until relationships have been established. LATAM businesses are considerably less likely to respond to telephone or online research and are less willing to share information compared with their European counterparts.

  • Limited intellectual property protection and its lack of enforcement means that clients need to be sensitive to the information they share.

 

 

© Advantage Market Intelligence Ltd.

14 Park Row

Nottingham

Nottinghamshire

NG1 6GR

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