Rich insights into low income consumers

How should you market to customers in emerging markets? How should you alter the message, product, or brand to make it desirable to these "new" customers? These are complicated questions, so rash generalizations do not hold up - particularily when you begin to slice customers further by socio-economic data, cultural issues, climate, needs, etc. However, a good rule of thumb is to not treat them dramatically different than you would other customers. A research report by Synovate backs up this thought.

Here's a little taste + the link to the report.

Low income consumers in the world's emerging markets want many of the same things out of life and the same quality in their products as middle class consumers and differ mainly in their purchasing behaviour, according to a recent global study by Synovate.

When it comes to attitudes, low income consumers in emerging markets have many of the same life priorities, values and brand perceptions as their middle class cousins. Health, family and physical security are the top three most important things in life for more than 80% of low and middle income consumers, followed by a good home, an education and a good income.

Full article here: http://www.synovate.com/knowledge/infact/issues/200611/

Living with – or without – technology

Almost half of us think new technology looks cool even if we don't understand it, according to a recent Synovate survey. The global market research company also learned that while a mobile phone is the gadget most people could not live without, almost one-quarter of respondents claim they could live without any of their high-tech toys.

What is the most important feature when deciding which technological gadget to buy? Check out the full article here: http://www.synovate.com/knowledge/infact/issues/200606/

Battle of the brands for emerging market hearts

While almost 60 percent of consumers in emerging market countries would buy a local brand over an international brand if both products were of equal price, consumers in these 'Hotspots' countries have the same brand preferences for cars (Toyota), fast food (McDonalds) and hotels (Hilton) as developed market consumers.

Good data, interesting findings. Learn something about it here: http://www.synovate.com/knowledge/infact/issues/200703/

Why didn't I think of this...

Would you spend $100 on an umbrella? Me either. How about if it looked like this? Yeah, me too.

Check it out or buy it here.

eMachines sees an opportunity to market low-cost PCs in emerging markets

Read that eMachines is targeting its low-cost thin client PCs to educational institutions and emerging markets. The article is here.

http://crn.com/hardware/198800791?queryText=emachines

We will increasingly see more and more manufacturers trying to make their business models work in emerging markets among developing segments. This makes sense for many reasons, including the shear number (more than 5 billion cannot currently take part in the digital revolution) and the purchasing power of the top countries ($15 trillion by many accounts). We have seen mobile handset manufacturers going here, and will see the PC manufacturers trying to make it work as well.

We're not solving a problem, we're making a one.

Interesting article for those thinking that those in developing markets simply want our junk. Not true. In some cases, our "charity" can backfire and hurt those we want to help. Not that I don't think we shouldn't try. But this is a bit ridiculous.

In a broadcast that was shared with me by a colleague, there's an interesting analysis of how e-waste can hurt those who we think we're helping.

I actually am a proponant of using technology to help those in emerging markets. But this shows there are ramifications that we need to consider.

Check it out here: http://www.pbs.org/newshour/bb/science/jan-june07/ewaste_02-19.html

Creative solution to a real problem - getting clean water.

Isn't creative problem solving one of the most beautiful things. When you look at the solution and say, "yes, that's a great solution to a real-world problem". From my experience with poor people in developing countries, I've always been amazed at how they improvise and use all that they have to make things better. I really dig the creativity of those who are working on developing market problems.

Here's a great solution to a simple problem - getting clean water.

You'll love it, I'm sure.

http://www.goodmagazine.com/section/Look/water_park

How the poor spend their money

Interesting article on how the poor spend their money. Reminds me of the days when I was poor...there were many of them. The desire to indulge is what makes us, well, human. Animals, for instance, find nothing wrong with eating the same thing each day. They're just thrilled to have a meal.

Me, I've had times of poverty when I've eaten nothing but toasted tomato sandwiches, hot dogs, and corn. They were free, and that's what we ate. I can eat hot dogs, and the sandwiches remind me of simpler times. But corn...nope.

Here's the article. http://www.slate.com/id/2162738/