emerging & frontier markets
If you look at the emerging markets as they stand today, you'll see massive differences in geographic, political, religious and cultural profiles. These markets are united as a group by their developing economic potential and are widely recognised as an area of opportunity for global business. However they're also considered more risky; they can be financially and politically unstable and some come with very real security concerns. Above all, they each have idiosyncrasies which must be understood before business is viable - meaning research is a necessity.
There is a wealth of data available now about these more obvious risks. But for an organisation looking to expand, reposition or gain understanding within these exciting markets there’s a key intelligence gap that must be filled – knowing what motivates the newly empowered consumer groups that populate them.
RESEARcHING THE EMERGING AND FRONTIER MARKETS
We see two key opportunities to use ethnography in emerging and frontier markets.
The first is for organisations that already have a presence in these markets and possibly collect quantitative data on their consumers there, but that need to deepen their understanding of how their product or service is perceived and used in order to further their market share or cause.
The second is for an organisation looking to move into a new market about which they know little. habitus Insight can enter the market and provide data on:
- How competitor products and services are perceived and consumed
- How the population view the type of product and service - are there any hidden cultural stigmas that need to be recognised?
- Which demographics are highest priority for marketing activity
- Which media channels are most prominently used and by whom
Ultimately, we can provide the insight you need to increase your chances of successful market penetration despite the unknowns.