A recent research report[financed by Experimentia] states that “Recent observations in the field on the BoP consumer’s lifestyle and buyer behavior in Africa led us to conclude that their product choices and decision-making criteria are based on an entirely different set of values…” Ouuf, they finally see the light.
“ A combination of factors such as local culture and history, as well the daily experience … , lead to a different mindset when it comes to purchasing patterns.” We are making some progress here
“The failure to understand the mindset of the …consumer could result in marketing strategies and business models that contradict their values. Their needs must be met in a manner that resonates with their lifestyle and self-perception.”Any entrepreneur and business that understood that is getting their share of the market as we speak.
“Simply adapting techniques and tools from your existing successful markets won’t do; you must build from scratch and refresh all your assumptions. Starting from a clean slate means designing products and strategies that are relevant, thoughtful and emphasize the values important to your new customer”