The Marketing of MR: Promoting Market Research in African Economies

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Transcript of The Marketing of MR: Promoting Market Research in African Economies

PROMOTING MARKET RESEARCH

IN AFRICAN COUNTRIES 

February 17th 2017

OUTLINE

Why is Africa important?

Why should we bother with Market Research in Africa?

How do we publicize Market Research in Africa?

Wrap up

Why is Africa Important?

AFRICAN FACTS

National Geographic ‘Getting to Know Africa: 50 Interesting Facts’ http://voices.nationalgeographic.com/2013/10/31/getting-to-know-africa-50-facts/

AFRICA'S POPULATION

Rise in discretionary

income

Living in urban

centresLarge, growing and

diverse population

High youth

population

McKinsey & Company ‘The rise of the African consumer’ http://www.mckinsey.com/global-locations/africa/south-africa/en/rise-of-the-african-consumer

AFRICA'S ECONOMY

Orange - Next 11 Economies

Purple - Fastest Growing EconomiesNext 11 ‘Focusing on your needs in Emerging Markets’ http://next11.se/next-11-emerging-markets/ Africa Business Central ‘These are Africa’s Fastest Growing Economies’ http://www.africanbusinesscentral.com/2016/05/12/here-are-africas-top-10-fastest-growing-economies-infographics/

AFRICA'S INDUSTRIES

Apparel, Consumer

Goods and Food

& Beverage account

for 45% of Africa’s

growth

Telecommunication,

Financial Services,

Education, Tourism,

Construction,

Manufacturing and

Health Care are

the fastest growth

industries

The World Bank ‘Africa Still Poised to Become the Next Great Investment Destination’ http://www.worldbank.org/en/news/opinion/2015/06/30/africa-still- poised-to-become-the-next-great-investment-destination McKinsey & Company ‘What’s driving Africa’s growth’ http://www.mckinsey.com/global-themes/middle-east-and-africa/whats-driving-africas-growth

BEHAVIOURS AND ATTITUDES

Changing Demands

Mobile Phone

Usage

Status and Self-

Presentation

Modern Shopping

Experience

Word of Mouth and

Traditional Media

Quality Products

McKinsey & Company ‘The rise of the African consumer’ http://www.mckinsey.com/global-locations/africa/south-africa/en/rise-of-the-african-consumer

Why should we bother with market research in Africa?

2 African countries make up the ‘Next 11’ Countries

11 African countries make up the list of the World’s Fastest Growing Economies

By 2020, number of households with discretionary income will rise by 35% (from 85million to 130million)

Foreign investment almost as high as that reaching China. As of 2015, reached $60billion

Investments in FMCG Manufacturing, IT, Financial Services, Retail & Tourism

ATTRACTIVENESS OF AFRICA

Attractive Landscape

for Businesses

Demand for Market

Research

Next 11 ‘Focusing on your needs in Emerging Markets’ http://next11.se/next-11-emerging-markets/ Africa Business Central ‘These are Africa’s Fastest Growing Economies’ http://www.africanbusinesscentral.com/2016/05/12/here-are-africas-top-10-fastest-growing-economies- infographics/ McKinsey & Company ‘What’s driving Africa’s growth’ http://www.mckinsey.com/global-themes/middle-east-and-africa/whats-driving-africas-growth McKinsey & Company ‘The rise of the African consumer’ http://www.mckinsey.com/global-locations/africa/south-africa/en/rise-of-the-african-consumer

CURRENT STATE

Africa contributes only 1% of

the total revenues of the

Market Research Industry

$40billion revenue industry;

Europe and United States

are the biggest buyers of

Market Research

Brazil, Russia, India and

China (BRIC nations) are

experiencing increased

demand for Market

Research

Market Research.com ‘ Key Facts About the Market Research Industry’ http://blog.marketresearch.com/key-facts-about-the-market-research-industry Kantar Millward Brown ‘Africa Leads the World into the Future of Market Research’ https://www.millwardbrown.com/Insights/Point-of- View/Africa_Leads_the_World/default.aspx

WHY ARE WE IN THIS STATE?

Difficulty

Travelling Time

Consuming

Small pool of

trained staff

Lack of Data

and Statistics

High Costs

Kantar Millward Brown ‘Africa Leads the World into the Future of Market Research’ https://www.millwardbrown.com/Insights/Point-of- View/Africa_Leads_the_World/default.aspx

(Agencies) (Agencies)(Agencies &

Companies)(Agencies &

Companies)

(Agencies &

Companies)

How do we publicize Market Research in Africa?

AGENCY: CLIENT

Stay abreast with new trends and provide

research backed

insights

Shed some light on

current and future

obstacles, and together

develop research based solutions

Collaborate with

reputable, well

established companies

as a way to display

trust, accountability,

accuracy and honesty

in our industry

Reduce the

amount of steps

needed to

participate

Provide plain language briefs

Provide instant gratification

Research on interesting

topics

Keep It Simple and Short

AGENCY: RESPONDENT

COMPANY: DEPARTMENT

Provide graduate programs,

internships and coop

programs

Encourage, support

and reward

participation in

industry events

Provide scholarship programs

Provide employee membership to

different associations

in the industry

WRAP UP

Listening to target market

Increasing market share

Increasing mind share

Thank You