Market Research in Mexico2017-04-07T00:23:28+00:00

Market Research in Mexico

Market Research Mexico

Mexico is the largest Spanish speaking population in the world, with over 100 million people and a heavily urbanized population.

An export-driven economy, Mexico benefits from several comparative advantages including its position as the second largest economy in Latin America. Mexico’s economy is diverse, with a wide range of industries.

Mexico is one of the United States’ largest export markets and one of its largest trading partner. It has a growing middle class and access to one of the largest economies in the world.

Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, bilateral trade has increased. Because of its shared Hispanic and Western US culture manufacturers find opportunities to promote, manufacturer and sell their products and services in Mexico.

Still, challenges exist in understanding the Mexico market.

Diverse regions have different wants, tastes, attitudes and lifestyle differences. Market entry and doing business in Mexico can pose a variety of different challenges than in other countries. Supply chain dynamics and business practices can also differ dramatically among countries. Strategies which work in some countries, may not work as well in Mexico. SIS International Research provides insight for confident decision making in Mexico & Central America.

Methodologies

All this has changed in the twenty years following NAFTA. However, face-to-face is still the most popular method of doing research in Mexico.

Much of it is door-to-door research. Mobile phone penetration is high, and the internet is still a relatively small portion of methodologies used. Ecommerce is new and unproven in these emerging markets; knowing the brand or person behind it, even digitally, can create more trust among users.

One of the major problems facing the Mexican market research industry is the response rates: people are not willing to take the time out to do the surveys.

Another issue is Mexico’s diversity and size. It can be hard to get a single distributor to cover this gigantic market. The Mexican legal system also poses a problem, since it differs significantly from that of other countries. Product standards, customs regulations and labor laws are also potential pitfalls for foreign companies.

About SIS

SIS International Research provides a range of services, including general advertising research, attitude and usage research, and brand positioning research.

SIS also provides business to business industrial market research, concept testing and positioning, and corporate image/identity research. Other services include customer satisfaction benchmark studies, competitive intelligence and qualitative/quantitative market research. SIS has more than 30 years’ experience in global market research, with in-depth resources and expertise for the Mexico market.