The Marketing of MR: Promoting Market Research in African Economies
-
Upload
busola-akin-olawore -
Category
Marketing
-
view
23 -
download
4
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